Hsbc Holdings PLC Lowers Position in Universal Display Corporation $OLED

Key Points

• Hsbc Holdings PLC reduced its stake in Universal Display Corporation by 95.0%, selling 149,556 shares and retaining only 7,946 shares valued at approximately $1,108,000.
• Universal Display reported quarterly earnings of $1.41 per share, exceeding analyst expectations and reflecting an 8.4% year-over-year revenue increase to $171.79 million.
• The company also announced a quarterly dividend of $0.45 per share, with an annual yield of 1.3% and a dividend payout ratio of 35.16%.

Hsbc Holdings PLC lowered its stake in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 95.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,946 shares of the semiconductor company's stock after selling 149,556 shares during the quarter. Hsbc Holdings PLC's holdings in Universal Display were worth $1,108,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Orion Capital Management LLC acquired a new position in shares of Universal Display during the fourth quarter valued at about $29,000. Golden State Wealth Management LLC increased its holdings in shares of Universal Display by 4,700.0% during the first quarter. Golden State Wealth Management LLC now owns 240 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 235 shares in the last quarter. Brooklyn Investment Group increased its holdings in shares of Universal Display by 98.5% during the first quarter. Brooklyn Investment Group now owns 270 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 134 shares in the last quarter. Global X Japan Co. Ltd. acquired a new position in shares of Universal Display during the first quarter valued at about $49,000. Finally, Summit Securities Group LLC acquired a new position in shares of Universal Display during the first quarter valued at about $57,000. Institutional investors and hedge funds own 78.19% of the company's stock.

Universal Display Price Performance

NASDAQ:OLED traded down $0.53 during midday trading on Wednesday, hitting $137.81. The company's stock had a trading volume of 201,108 shares, compared to its average volume of 646,763. Universal Display Corporation has a fifty-two week low of $103.70 and a fifty-two week high of $215.90. The firm's 50 day moving average is $147.75 and its 200-day moving average is $144.27. The firm has a market cap of $6.55 billion, a P/E ratio of 26.92, a P/E/G ratio of 4.07 and a beta of 1.50.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.23. Universal Display had a net margin of 36.95% and a return on equity of 15.82%. The company had revenue of $171.79 million for the quarter, compared to the consensus estimate of $161.58 million. During the same quarter in the prior year, the company earned $1.10 EPS. Universal Display's quarterly revenue was up 8.4% on a year-over-year basis. Universal Display has set its FY 2025 guidance at EPS. As a group, analysts forecast that Universal Display Corporation will post 4.71 EPS for the current year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, September 16th. Universal Display's dividend payout ratio is currently 35.16%.

Wall Street Analysts Forecast Growth

Separately, Zacks Research downgraded shares of Universal Display from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Universal Display currently has an average rating of "Moderate Buy" and an average price target of $190.43.

About Universal Display

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.