National Bank of Canada FI Trims Position in Universal Display Corporation $OLED

Key Points

• National Bank of Canada FI drastically reduced its stake in Universal Display Corporation by 98%, selling over 10,000 shares during the 1st quarter.
• The company reported strong earnings, exceeding estimates with an EPS of $1.41 and a revenue of $171.79 million for the most recent quarter.
• Universal Display recently declared a quarterly dividend of $0.45 per share, which reflects an annualized yield of 1.3%.

National Bank of Canada FI decreased its holdings in Universal Display Corporation (NASDAQ:OLED - Free Report) by 98.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 213 shares of the semiconductor company's stock after selling 10,275 shares during the quarter. National Bank of Canada FI's holdings in Universal Display were worth $30,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Headlands Technologies LLC boosted its holdings in shares of Universal Display by 37.6% in the first quarter. Headlands Technologies LLC now owns 6,774 shares of the semiconductor company's stock worth $945,000 after buying an additional 1,851 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Universal Display by 5.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 358,612 shares of the semiconductor company's stock worth $50,019,000 after buying an additional 17,593 shares during the last quarter. Primecap Management Co. CA boosted its holdings in shares of Universal Display by 2.1% in the first quarter. Primecap Management Co. CA now owns 1,835,722 shares of the semiconductor company's stock worth $256,047,000 after buying an additional 38,590 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Universal Display by 31.0% in the first quarter. US Bancorp DE now owns 6,208 shares of the semiconductor company's stock worth $866,000 after buying an additional 1,470 shares during the last quarter. Finally, Wealthquest Corp purchased a new position in shares of Universal Display in the first quarter worth approximately $1,855,000. Hedge funds and other institutional investors own 78.19% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Universal Display from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Needham & Company LLC reiterated a "buy" rating and issued a $170.00 price target on shares of Universal Display in a research report on Friday, May 2nd. Finally, Zacks Research lowered shares of Universal Display from a "strong-buy" rating to a "hold" rating in a research 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $190.43.

Universal Display Stock Performance

OLED stock traded down $1.94 during mid-day trading on Monday, reaching $142.93. 322,503 shares of the stock traded hands, compared to its average volume of 554,726. Universal Display Corporation has a one year low of $103.70 and a one year high of $215.90. The stock has a market capitalization of $6.79 billion, a PE ratio of 27.92, a PEG ratio of 4.29 and a beta of 1.47. The business has a 50-day moving average price of $149.28 and a two-hundred day moving average price of $144.39.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its earnings results on Thursday, July 31st. The semiconductor company reported $1.41 earnings per share (EPS) 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 analysts' expectations of $161.58 million. During the same period in the prior year, the business earned $1.10 EPS. The firm's quarterly revenue was up 8.4% on a year-over-year basis. Universal Display has set its FY 2025 guidance at EPS. On average, equities analysts expect that Universal Display Corporation will post 4.71 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

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

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.