Jacobs Levy Equity Management Inc. Sells 3,173 Shares of Universal Display Corporation $OLED

Key Points

• Jacobs Levy Equity Management Inc. has decreased its stake in Universal Display Corporation (NASDAQ:OLED) by 18.7%, now owning 13,767 shares valued at approximately $1.92 million.
• Zacks Research downgraded Universal Display from a "strong-buy" to a "hold" rating, while analysts maintain a consensus rating of "Moderate Buy" with a price target of $190.43.
• Universal Display announced a quarterly dividend of $0.45 per share, which equates to an annualized dividend of $1.80 and a yield of 1.3%, payable on September 30th to investors of record.

Jacobs Levy Equity Management Inc. cut its holdings in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 18.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,767 shares of the semiconductor company's stock after selling 3,173 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in Universal Display were worth $1,920,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new stake in Universal Display during the fourth quarter worth $29,000. Golden State Wealth Management LLC lifted its stake in Universal Display by 4,700.0% during the first quarter. Golden State Wealth Management LLC now owns 240 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 235 shares during the last quarter. Brooklyn Investment Group lifted its stake in shares of Universal Display by 98.5% in the 1st quarter. Brooklyn Investment Group now owns 270 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 134 shares during the last quarter. Banque Transatlantique SA bought a new position in shares of Universal Display in the 1st quarter valued at $45,000. Finally, Global X Japan Co. Ltd. bought a new position in shares of Universal Display in the 1st quarter valued at $49,000. 78.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Universal Display Trading Up 2.1%

NASDAQ:OLED traded up $2.82 during trading hours on Tuesday, hitting $136.98. 608,819 shares of the company were exchanged, compared to its average volume of 560,389. The stock has a market capitalization of $6.51 billion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 3.94 and a beta of 1.50. Universal Display Corporation has a one year low of $103.70 and a one year high of $215.90. The company has a fifty day simple moving average of $144.22 and a 200 day simple moving average of $143.42.

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, topping the consensus estimate of $1.18 by $0.23. The business had revenue of $171.79 million during the quarter, compared to analyst estimates of $161.58 million. Universal Display had a return on equity of 15.82% and a net margin of 36.95%.Universal Display's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $1.10 EPS. Universal Display has set its FY 2025 guidance at EPS. Equities research analysts predict that Universal Display Corporation will post 4.71 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 16th. Universal Display's dividend payout ratio (DPR) is currently 35.16%.

Universal Display 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.