United Services Automobile Association Buys New Shares in Universal Display Corporation $OLED

Key Points

• United Services Automobile Association acquired a new stake in Universal Display Corporation, purchasing 2,908 shares valued at approximately $422,000.
• Universal Display reported earnings per share of $1.41 for the latest quarter, exceeding analysts' expectations and showing an 8.4% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.45 per share, representing an annualized yield of 1.3%, set to be paid on September 30th.

United Services Automobile Association acquired a new position in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,908 shares of the semiconductor company's stock, valued at approximately $422,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Universal Display by 73.8% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,407,846 shares of the semiconductor company's stock worth $614,806,000 after buying an additional 1,871,333 shares during the period. Primecap Management Co. CA boosted its position in shares of Universal Display by 2.1% during the first quarter. Primecap Management Co. CA now owns 1,835,722 shares of the semiconductor company's stock worth $256,047,000 after buying an additional 38,590 shares during the period. Brown Advisory Inc. acquired a new position in shares of Universal Display during the first quarter worth approximately $72,327,000. Raymond James Financial Inc. boosted its position in shares of Universal Display by 64.4% during the first quarter. Raymond James Financial Inc. now owns 466,612 shares of the semiconductor company's stock worth $65,083,000 after buying an additional 182,730 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Universal Display by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 439,874 shares of the semiconductor company's stock worth $61,354,000 after buying an additional 2,282 shares during the period. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Trading Up 0.9%

NASDAQ:OLED traded up $1.17 during trading hours on Tuesday, hitting $134.88. 116,685 shares of the stock traded hands, compared to its average volume of 649,034. The firm has a 50 day moving average price of $144.66 and a 200 day moving average price of $143.46. Universal Display Corporation has a fifty-two week low of $103.70 and a fifty-two week high of $215.90. The firm has a market cap of $6.41 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 4.00 and a beta of 1.50.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its 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 the consensus estimate of $161.58 million. During the same period in the previous year, the business earned $1.10 EPS. The company's revenue was up 8.4% on a year-over-year basis. Universal Display has set its FY 2025 guidance at EPS. Research analysts predict that Universal Display Corporation will post 4.71 EPS for the current year.

Universal Display Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.45 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a yield of 1.3%. Universal Display's dividend payout ratio is currently 35.16%.

Analyst Upgrades and Downgrades

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

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.