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. decreased its holdings in Universal Display Corporation (NASDAQ:OLED - Free Report) by 31.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its stake in Universal Display by 5.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 139,646 shares of the semiconductor company's stock worth $19,478,000 after purchasing an additional 6,604 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in 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 purchasing an additional 87,801 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Universal Display in the 1st quarter worth about $242,000. DAVENPORT & Co LLC acquired a new stake in Universal Display in the 1st quarter worth about $377,000. Finally, GAMMA Investing LLC raised its stake in 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 purchasing an additional 551 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company's stock.

Universal Display Stock Performance

Shares of Universal Display stock traded down $2.63 during midday trading on Friday, hitting $138.59. 446,661 shares of the company traded hands, compared to its average volume of 537,144. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 4.07 and a beta of 1.47. The firm's fifty day moving average price is $148.37 and its 200-day moving average price is $144.34. Universal Display Corporation has a 12 month low of $103.70 and a 12 month high of $215.90.

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

Universal Display Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 payout ratio is 35.16%.

Wall Street Analyst Weigh In

Several research firms have commented on OLED. Zacks Research lowered shares of Universal Display from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Wall Street Zen raised shares of Universal Display from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Finally, Needham & Company LLC reissued a "buy" rating and issued a $170.00 target price on shares of Universal Display in a report on Friday, May 2nd. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Universal Display has an average rating of "Moderate Buy" and a consensus price target of $190.43.

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.