Russell Investments Group Ltd. Sells 8,480 Shares of Universal Display Corporation $OLED

Key Points

• Russell Investments Group Ltd. has reduced its stake in Universal Display Corporation by 31.5%, selling 8,480 shares and retaining 18,422 shares valued at approximately $2.57 million.
• Universal Display's recent earnings report showed an EPS of $1.41, exceeding expectations, with revenue of $171.79 million, reflecting an 8.4% year-over-year increase.
• The company announced a quarterly dividend of $0.45 per share, set to be paid on September 30th, representing a yield of 1.2% and a payout ratio of 35.16%.

Russell Investments Group Ltd. cut its stake in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 31.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,422 shares of the semiconductor company's stock after selling 8,480 shares during the quarter. Russell Investments Group Ltd.'s holdings in Universal Display were worth $2,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its position in Universal Display by 5.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 139,646 shares of the semiconductor company's stock valued at $19,478,000 after purchasing an additional 6,604 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Universal Display by 44.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 286,320 shares of the semiconductor company's stock worth $39,936,000 after acquiring an additional 87,801 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Universal Display in the 1st quarter worth approximately $242,000. DAVENPORT & Co LLC bought a new stake in shares of Universal Display in the 1st quarter worth approximately $377,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Universal Display by 134.1% in the 1st quarter. GAMMA Investing LLC now owns 962 shares of the semiconductor company's stock worth $134,000 after acquiring an additional 551 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors.

Universal Display Stock Up 3.2%

Shares of NASDAQ OLED opened at $144.87 on Monday. Universal Display Corporation has a 52 week low of $103.70 and a 52 week high of $215.90. The firm's fifty day moving average is $149.54 and its 200 day moving average is $144.39. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 4.29 and a beta of 1.47.

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

Universal Display Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 16th. Universal Display's payout ratio is presently 35.16%.

Analysts Set New Price Targets

OLED has been the subject of a number of recent research reports. Zacks Research lowered shares of Universal Display from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Needham & Company LLC restated a "buy" rating and issued a $170.00 price objective on shares of Universal Display in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of Universal Display from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently 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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