Universal Display Corporation $OLED Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its stake in Universal Display Corporation by 6.8%, holding 351,834 shares valued at approximately $49.07 million after selling 25,669 shares in the 1st quarter.
• Universal Display's stock has a consensus rating of "Moderate Buy" with an average target price of $190.43, despite Zacks Research downgrading it from "strong-buy" to "hold."
• The company also announced a quarterly dividend of $0.45 per share, with a dividend yield of 1.3%, set to be paid out on September 30th.

Rafferty Asset Management LLC decreased its holdings in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 6.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 351,834 shares of the semiconductor company's stock after selling 25,669 shares during the quarter. Rafferty Asset Management LLC owned about 0.74% of Universal Display worth $49,074,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in OLED. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Universal Display by 73.8% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,407,846 shares of the semiconductor company's stock worth $614,806,000 after buying an additional 1,871,333 shares in the last quarter. Brown Advisory Inc. acquired a new position in Universal Display in the 1st quarter worth $72,327,000. FengHe Fund Management Pte. Ltd. acquired a new position in Universal Display in the 1st quarter worth $41,147,000. Point72 Asset Management L.P. acquired a new position in Universal Display in the 4th quarter worth $38,981,000. Finally, Raymond James Financial Inc. increased its position in shares of Universal Display by 64.4% in the 1st quarter. Raymond James Financial Inc. now owns 466,612 shares of the semiconductor company's stock worth $65,083,000 after purchasing an additional 182,730 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company's stock.

Wall Street Analyst Weigh In

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

Universal Display Trading Down 1.9%

Universal Display stock traded down $2.63 during midday trading on Friday, reaching $138.59. 446,661 shares of the stock traded hands, compared to its average volume of 537,144. The firm has a fifty day moving average price of $148.37 and a two-hundred day moving average price of $144.34. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 4.07 and a beta of 1.47. Universal Display Corporation has a fifty-two week low of $103.70 and a fifty-two week high of $215.90.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly 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. The company had revenue of $171.79 million during the quarter, compared to analyst estimates of $161.58 million. Universal Display had a net margin of 36.95% and a return on equity of 15.82%. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 EPS. Universal Display has set its FY 2025 guidance at EPS. Analysts anticipate that Universal Display Corporation will post 4.71 earnings per share for the current year.

Universal Display Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 16th. Universal Display's dividend payout ratio is currently 35.16%.

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.