Universal Display Corporation $OLED Shares Sold by First Trust Advisors LP

Key Points

• First Trust Advisors LP trimmed its stake in Universal Display by 1.8% in Q3, selling 12,462 shares and now holds 686,950 shares (~1.45% of the company) worth about $98.7M; institutional investors and hedge funds own roughly 78.19% of the stock.
• Quarterly results: Universal Display beat EPS expectations ($1.39 vs. $1.28) while revenue of $172.93M was slightly below estimates, with a 6.5% YoY revenue increase and a 37.2% net margin; analysts project about 4.71 EPS for the year.
• Dividend and analyst stance: the company raised its quarterly dividend to $0.50 ($2.00 annualized, 2.0% yield), and the consensus rating is "Hold" with an average price target of $151.67 versus a current share price near $98.63.

First Trust Advisors LP lowered its position in Universal Display Corporation (NASDAQ:OLED - Free Report) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 686,950 shares of the semiconductor company's stock after selling 12,462 shares during the quarter. First Trust Advisors LP owned approximately 1.45% of Universal Display worth $98,667,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Focus Partners Wealth increased its holdings in shares of Universal Display by 6.4% in the 1st quarter. Focus Partners Wealth now owns 3,680 shares of the semiconductor company's stock valued at $513,000 after acquiring an additional 221 shares during the period. Bank of Montreal Can boosted its stake in Universal Display by 6.8% during the 2nd quarter. Bank of Montreal Can now owns 9,294 shares of the semiconductor company's stock worth $1,436,000 after purchasing an additional 594 shares during the period. First Horizon Advisors Inc. boosted its stake in Universal Display by 81.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 479 shares of the semiconductor company's stock worth $74,000 after purchasing an additional 215 shares during the period. Atlantic Union Bankshares Corp purchased a new position in Universal Display during the 2nd quarter worth $39,000. Finally, Los Angeles Capital Management LLC purchased a new position in Universal Display during the 2nd quarter worth $1,750,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Stock Performance

Shares of Universal Display stock opened at $98.63 on Tuesday. Universal Display Corporation has a one year low of $93.50 and a one year high of $163.21. The company has a market cap of $4.65 billion, a P/E ratio of 19.45, a PEG ratio of 7.46 and a beta of 1.65. The firm has a fifty day moving average of $116.55 and a two-hundred day moving average of $127.43.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its earnings results on Thursday, February 19th. The semiconductor company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.11. The business had revenue of $172.93 million for the quarter, compared to the consensus estimate of $173.35 million. Universal Display had a net margin of 37.21% and a return on equity of 14.07%. The business's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.22 earnings per share. As a group, equities analysts predict that Universal Display Corporation will post 4.71 earnings per share for the current year.

Universal Display Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, March 17th. This is a positive change from Universal Display's previous quarterly dividend of $0.45. Universal Display's payout ratio is presently 35.50%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Zacks Research cut shares of Universal Display from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 19th. Citigroup lowered their price target on Universal Display from $150.00 to $130.00 and set a "neutral" rating on the stock in a report on Tuesday, January 27th. Needham & Company LLC reduced their price objective on Universal Display from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Friday, February 20th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Universal Display in a research report on Wednesday, December 24th. Finally, Roth Mkm reiterated a "buy" rating and issued a $180.00 target price on shares of Universal Display in a research note on Friday, February 20th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Universal Display presently has a consensus rating of "Hold" and an average price target of $151.67.

Universal Display Company Profile

Universal Display Corporation NASDAQ: OLED is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display's core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.

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