Griffin Asset Management Inc. lowered its holdings in Universal Display Co. (NASDAQ:OLED - Free Report) by 1.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 432,668 shares of the semiconductor company's stock after selling 5,020 shares during the quarter. Universal Display accounts for about 7.4% of Griffin Asset Management Inc.'s holdings, making the stock its biggest position. Griffin Asset Management Inc. owned about 0.91% of Universal Display worth $60,349,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Orion Capital Management LLC acquired a new stake in Universal Display in the fourth quarter valued at $29,000. Brown Brothers Harriman & Co. raised its stake in shares of Universal Display by 280.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company's stock worth $31,000 after buying an additional 154 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Universal Display by 401.9% during the 4th quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company's stock worth $38,000 after buying an additional 209 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Universal Display during the 4th quarter worth $40,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Universal Display by 761.1% during the 4th quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company's stock worth $45,000 after buying an additional 274 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company's stock.
Universal Display Stock Down 3.5%
Shares of OLED traded down $5.61 on Friday, hitting $153.52. 559,041 shares of the stock traded hands, compared to its average volume of 601,611. The firm has a market capitalization of $7.30 billion, a P/E ratio of 33.02, a P/E/G ratio of 1.61 and a beta of 1.50. The stock's 50 day moving average is $137.93 and its two-hundred day moving average is $145.31. Universal Display Co. has a 1 year low of $103.70 and a 1 year high of $237.00.
Universal Display (NASDAQ:OLED - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.28. The business had revenue of $166.28 million for the quarter, compared to the consensus estimate of $154.76 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The company's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.19 earnings per share. Research analysts forecast that Universal Display Co. will post 4.71 EPS for the current year.
Universal Display Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Monday, June 16th. Universal Display's dividend payout ratio (DPR) is 37.42%.
Analyst Ratings Changes
OLED has been the subject of several research reports. Roth Mkm lifted their price target on Universal Display from $207.00 to $213.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $170.00 price target on shares of Universal Display in a research note on Friday, May 2nd. Wall Street Zen raised Universal Display from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd. Finally, Susquehanna cut their price target on Universal Display from $165.00 to $160.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $190.43.
Check Out Our Latest Report on OLED
About Universal Display
(
Free Report)
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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