New Age Alpha Advisors LLC Sells 5,869 Shares of Universal Display Corporation (NASDAQ:OLED)

Key Points

• New Age Alpha Advisors LLC reduced its stake in Universal Display Corporation by 58.8% during the first quarter, now holding shares worth approximately $574,000.
• Universal Display announced a quarterly dividend of $0.45, representing an annualized yield of 1.3%, to be paid on September 30th.
• The company's recent earnings report showed $1.41 EPS, exceeding expectations, with revenue up 8.4% year-over-year.

New Age Alpha Advisors LLC lessened its holdings in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 58.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,114 shares of the semiconductor company's stock after selling 5,869 shares during the period. New Age Alpha Advisors LLC's holdings in Universal Display were worth $574,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. US Bancorp DE grew its stake in shares of Universal Display by 31.0% in the 1st quarter. US Bancorp DE now owns 6,208 shares of the semiconductor company's stock valued at $866,000 after purchasing an additional 1,470 shares during the period. Wealthquest Corp acquired a new position in shares of Universal Display in the 1st quarter worth approximately $1,855,000. Natixis Advisors LLC boosted its holdings in shares of Universal Display by 15.4% in the 1st quarter. Natixis Advisors LLC now owns 18,869 shares of the semiconductor company's stock worth $2,632,000 after acquiring an additional 2,522 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Universal Display by 6.9% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 1,550 shares of the semiconductor company's stock worth $216,000 after acquiring an additional 100 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of Universal Display by 19.2% in the 1st quarter. LPL Financial LLC now owns 60,411 shares of the semiconductor company's stock worth $8,426,000 after acquiring an additional 9,740 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on OLED shares. Needham & Company LLC reaffirmed a "buy" rating and set a $170.00 price objective on shares of Universal Display in a report on Friday, May 2nd. Wall Street Zen raised Universal Display from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $190.43.

Universal Display Price Performance

Shares of OLED stock traded up $4.67 during trading hours on Tuesday, reaching $140.48. The company had a trading volume of 664,346 shares, compared to its average volume of 665,982. The company has a 50 day moving average of $151.80 and a 200 day moving average of $144.68. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of 27.44, a P/E/G ratio of 1.47 and a beta of 1.47. Universal Display Corporation has a 1-year low of $103.70 and a 1-year high of $215.90.

Universal Display (NASDAQ:OLED - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.23. Universal Display had a net margin of 36.95% and a return on equity of 15.82%. The business had revenue of $171.79 million during the quarter, compared to analysts' expectations of $161.58 million. During the same quarter in the prior year, the company earned $1.10 EPS. The firm's quarterly revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts forecast that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Dividend Announcement

The company 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. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.3%. Universal Display's dividend payout ratio is currently 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.