Universal Display Corporation $OLED Shares Newly Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 168,517 shares of Universal Display in the second quarter, worth approximately $14.6 million and representing about 0.37% of the company. Institutional investors and hedge funds collectively own 78.19% of the stock.
• Analyst sentiment is mixed, with three Buy ratings, four Holds and one Sell. The consensus rating is Hold, with an average price target of $116.33, despite several recent target-price reductions.
• Universal Display beat quarterly earnings expectations with $1.06 in EPS, but revenue fell 11.4% year over year to $152.16 million. The company declared a quarterly dividend of $0.50 per share, equivalent to a 2.6% annualized yield.

Bank of America Corp DE bought a new stake in Universal Display Corporation (NASDAQ:OLED - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 168,517 shares of the semiconductor company's stock, valued at approximately $14,592,000. Bank of America Corp DE owned approximately 0.37% of Universal Display as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Eurizon Capital SGR S.p.A. acquired a new position in shares of Universal Display during the 4th quarter valued at $75,000. Hantz Financial Services Inc. raised its position in Universal Display by 49.8% in the fourth quarter. Hantz Financial Services Inc. now owns 977 shares of the semiconductor company's stock worth $114,000 after acquiring an additional 325 shares in the last quarter. Clearstead Trust LLC acquired a new stake in Universal Display in the 2nd quarter valued at about $87,000. Parallel Advisors LLC boosted its position in shares of Universal Display by 45.6% during the 1st quarter. Parallel Advisors LLC now owns 1,009 shares of the semiconductor company's stock valued at $92,000 after purchasing an additional 316 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Universal Display in the 1st quarter worth approximately $102,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on OLED shares. Weiss Ratings downgraded Universal Display from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, July 28th. Zacks Research upgraded Universal Display from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 13th. BTIG Research downgraded Universal Display to a "neutral" rating in a report on Friday, July 31st. Citigroup decreased their price target on shares of Universal Display from $100.00 to $85.00 and set a "neutral" rating for the company in a report on Monday, August 3rd. Finally, Oppenheimer reiterated an "outperform" rating and issued a $120.00 target price (down from $130.00) on shares of Universal Display in a research report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Universal Display currently has an average rating of "Hold" and an average price target of $116.33.

Universal Display Stock Performance

Shares of Universal Display stock opened at $77.39 on Friday. The firm has a market cap of $3.56 billion, a P/E ratio of 18.74 and a beta of 1.56. The firm's 50-day simple moving average is $82.95 and its 200-day simple moving average is $88.11. Universal Display Corporation has a twelve month low of $73.23 and a twelve month high of $153.38.

Universal Display (NASDAQ:OLED - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.03. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The company had revenue of $152.16 million for the quarter, compared to the consensus estimate of $157.54 million. During the same period in the previous year, the business earned $1.41 earnings per share. The company's quarterly revenue was down 11.4% on a year-over-year basis. On average, equities analysts forecast that Universal Display Corporation will post 4.17 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. Universal Display's dividend payout ratio (DPR) is presently 48.43%.

Universal Display Profile

Universal Display Corporation NASDAQ: OLED develops and commercializes organic light-emitting diode (OLED) technologies and materials. The company's business is centered on high-efficiency phosphorescent OLED (PHOLED) technology, which is designed to improve the performance and energy efficiency of OLED displays and lighting products.

Universal Display supplies OLED emitter materials and other related products to manufacturers and provides technology licenses, technical assistance and support under agreements covering its intellectual property.

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