Peregrine Investment Management Inc. Reduces Position in Universal Display Corporation $OLED

Key Points

• Peregrine Investment Management Inc. has reduced its stake in Universal Display Corporation by 25.2% during the second quarter, maintaining ownership of approximately 40,560 shares of the company.
• Universal Display reported a quarterly earnings per share of $1.41, surpassing analysts' expectations and reflecting an 8.4% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.45 per share, indicating a 1.2% dividend yield and a payout ratio of 35.16%.

Peregrine Investment Management Inc. lessened its stake in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 25.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,560 shares of the semiconductor company's stock after selling 13,680 shares during the quarter. Universal Display makes up approximately 4.0% of Peregrine Investment Management Inc.'s portfolio, making the stock its 13th biggest position. Peregrine Investment Management Inc. owned 0.09% of Universal Display worth $6,265,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC boosted its stake in shares of Universal Display by 87.9% during the first quarter. Rise Advisors LLC now owns 186 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 87 shares during the period. Golden State Wealth Management LLC boosted its stake 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 purchasing an additional 235 shares during the period. Brooklyn Investment Group boosted its stake 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 purchasing an additional 134 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Universal Display by 79.2% during the second quarter. Farther Finance Advisors LLC now owns 276 shares of the semiconductor company's stock valued at $43,000 after purchasing an additional 122 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Universal Display by 79.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 307 shares of the semiconductor company's stock valued at $47,000 after purchasing an additional 136 shares during the period. Hedge funds and other institutional investors own 78.19% of the company's stock.

Universal Display Trading Up 2.5%

OLED opened at $147.02 on Wednesday. Universal Display Corporation has a 12-month low of $103.70 and a 12-month high of $215.90. The stock has a fifty day simple moving average of $142.90 and a two-hundred day simple moving average of $143.08. The company has a market cap of $6.99 billion, a price-to-earnings ratio of 28.71, a price-to-earnings-growth ratio of 4.21 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, beating the consensus estimate of $1.18 by $0.23. Universal Display had a return on equity of 15.82% and a net margin of 36.95%.The firm had revenue of $171.79 million during the quarter, compared to the consensus estimate of $161.58 million. During the same period last year, the company earned $1.10 earnings per share. The company's revenue was up 8.4% on a year-over-year basis. Universal Display has set its FY 2025 guidance at EPS. On average, analysts predict that Universal Display Corporation will post 4.71 EPS for the current year.

Universal Display Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.2%. Universal Display's dividend payout ratio (DPR) is presently 35.16%.

Wall Street Analysts Forecast Growth

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

Universal Display Profile

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.

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