Universal Display Corporation $OLED is Griffin Asset Management Inc.'s Largest Position

Key Points

• Griffin Asset Management Inc. reduced its stake in Universal Display Corporation by 37.7%, now holding 269,628 shares, which constitutes approximately 4.9% of their portfolio, making it their largest position.
• Universal Display reported earnings of $1.41 per share for the latest quarter, exceeding analyst expectations and achieving a revenue of $171.79 million, up 8.4% year-over-year.
• The company recently announced a quarterly dividend of $0.45, representing an annual yield of 1.3% with a payout ratio of 35.16%.

Griffin Asset Management Inc. lowered its position in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 37.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 269,628 shares of the semiconductor company's stock after selling 163,040 shares during the quarter. Universal Display comprises approximately 4.9% of Griffin Asset Management Inc.'s portfolio, making the stock its biggest position. Griffin Asset Management Inc. owned 0.57% of Universal Display worth $41,647,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its position in shares of 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 during the last quarter. Envestnet Asset Management Inc. raised its position 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 purchasing an additional 87,801 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Universal Display in the 1st quarter worth about $242,000. DAVENPORT & Co LLC purchased a new position in shares of Universal Display in the 1st quarter worth about $377,000. Finally, GAMMA Investing LLC raised its position 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 purchasing an additional 551 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company's stock.

Universal Display Stock Performance

Shares of NASDAQ:OLED opened at $137.40 on Monday. Universal Display Corporation has a fifty-two week low of $103.70 and a fifty-two week high of $214.57. The business has a 50-day simple moving average of $141.64 and a two-hundred day simple moving average of $142.34. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 4.03 and a beta of 1.55.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its earnings results on Thursday, July 31st. The semiconductor company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.18 by $0.23. Universal Display had a return on equity of 15.82% and a net margin of 36.95%.The business had revenue of $171.79 million during the quarter, compared to analyst estimates of $161.58 million. During the same quarter in the previous year, the firm earned $1.10 EPS. Universal Display's revenue was up 8.4% on a year-over-year basis. Universal Display has set its FY 2025 guidance at EPS. As a group, research analysts predict that Universal Display Corporation will post 4.71 earnings per share for the current year.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a yield of 1.3%. Universal Display's payout ratio is 35.16%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Universal Display in a research report on Wednesday, October 8th. Zacks Research downgraded Universal Display from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Universal Display has an average rating of "Moderate Buy" and an average 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.

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