Royal Bank of Canada Boosts Holdings in Universal Display Corporation $OLED

Royal Bank of Canada boosted its holdings in Universal Display Corporation (NASDAQ:OLED - Free Report) by 81.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 179,380 shares of the semiconductor company's stock after buying an additional 80,665 shares during the period. Royal Bank of Canada owned 0.38% of Universal Display worth $25,019,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new stake in Universal Display in the 4th quarter worth about $29,000. Golden State Wealth Management LLC boosted its stake in Universal Display by 4,700.0% in the 1st quarter. Golden State Wealth Management LLC now owns 240 shares of the semiconductor company's stock worth $33,000 after buying an additional 235 shares during the last quarter. Brooklyn Investment Group boosted its stake in Universal Display by 98.5% in the 1st quarter. Brooklyn Investment Group now owns 270 shares of the semiconductor company's stock worth $38,000 after buying an additional 134 shares during the last quarter. Global X Japan Co. Ltd. acquired a new stake in Universal Display in the 1st quarter worth about $49,000. Finally, SVB Wealth LLC acquired a new stake in Universal Display in the 1st quarter worth about $50,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Zacks Research lowered Universal Display from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $190.43.

Universal Display Stock Down 1.2%

Shares of NASDAQ OLED traded down $1.69 during midday trading on Friday, hitting $136.51. The stock had a trading volume of 433,193 shares, compared to its average volume of 534,738. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 4.05 and a beta of 1.50. Universal Display Corporation has a 1-year low of $103.70 and a 1-year high of $215.90. The company has a fifty day moving average price of $145.09 and a 200 day moving average price of $143.77.

Universal Display (NASDAQ:OLED - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $171.79 million for the quarter, compared to analyst estimates of $161.58 million. Universal Display had a return on equity of 15.82% and a net margin of 36.95%.The company's revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 EPS. Universal Display has set its FY 2025 guidance at EPS. On average, research analysts forecast that Universal Display Corporation will post 4.71 EPS for the current year.

Universal Display Announces Dividend

The company 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. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.80 annualized dividend and a yield of 1.3%. Universal Display's dividend payout ratio (DPR) is 35.16%.

Universal Display Company 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.