Janus Henderson Group PLC Has $20.66 Million Stake in Universal Display Corporation $OLED

Key Points

• Janus Henderson cut its Universal Display stake by 64.6% in the first quarter, selling 412,610 shares and retaining 225,635 shares worth about $20.66 million. Institutional investors collectively own 78.19% of the company.
• Universal Display beat quarterly EPS estimates, reporting $1.06 versus the $1.03 consensus, but revenue of $152.16 million missed expectations and fell 11.4% year over year.
• The company declared a quarterly dividend of $0.50 per share, equivalent to $2.00 annually and a 2.5% yield. Analyst sentiment remains mixed, with an average “Hold” rating and a consensus price target of $116.33.

Janus Henderson Group PLC reduced its stake in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 64.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,635 shares of the semiconductor company's stock after selling 412,610 shares during the period. Janus Henderson Group PLC owned 0.48% of Universal Display worth $20,665,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in OLED. Systematic Financial Management LP boosted its position in Universal Display by 40.2% during the fourth quarter. Systematic Financial Management LP now owns 196,515 shares of the semiconductor company's stock worth $22,949,000 after purchasing an additional 56,320 shares during the period. Caxton Associates LLP grew its holdings in Universal Display by 132.6% during the first quarter. Caxton Associates LLP now owns 43,818 shares of the semiconductor company's stock valued at $4,016,000 after purchasing an additional 24,977 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of Universal Display by 776.6% in the first quarter. Quantinno Capital Management LP now owns 251,218 shares of the semiconductor company's stock valued at $23,027,000 after purchasing an additional 222,561 shares during the period. UBS Group AG raised its position in shares of Universal Display by 100.8% in the fourth quarter. UBS Group AG now owns 646,787 shares of the semiconductor company's stock valued at $75,532,000 after purchasing an additional 324,677 shares during the period. Finally, Hussman Strategic Advisors Inc. bought a new position in shares of Universal Display in the fourth quarter valued at approximately $1,962,000. Institutional investors own 78.19% of the company's stock.

Universal Display Price Performance

Shares of Universal Display stock opened at $79.78 on Tuesday. The company has a market cap of $3.73 billion, a PE ratio of 19.32 and a beta of 1.54. The firm has a fifty day moving average price of $85.15 and a two-hundred day moving average price of $96.62. Universal Display Corporation has a fifty-two week low of $76.42 and a fifty-two week high of $153.38.

Universal Display (NASDAQ:OLED - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.03. The company had revenue of $152.16 million for the quarter, compared to the consensus estimate of $157.54 million. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The business's revenue was down 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.41 EPS. Analysts expect that Universal Display Corporation will post 4.2 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. Universal Display's dividend payout ratio (DPR) is 48.43%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on OLED shares. Weiss Ratings downgraded shares of Universal Display from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, July 28th. Zacks Research lowered shares of Universal Display from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 21st. Susquehanna decreased their price target on shares of Universal Display from $110.00 to $90.00 and set a "neutral" rating for the company in a report on Friday. Roth Capital set a $168.00 price target on Universal Display in a research report on Friday, May 1st. Finally, The Goldman Sachs Group set a $135.00 price objective on Universal Display in a research note on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $116.33.

About Universal Display

Universal Display Corporation NASDAQ: OLED is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display's core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.

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