Rafferty Asset Management LLC Sells 25,669 Shares of Universal Display Corporation $OLED

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

Several other institutional investors have also recently made changes to their positions in the stock. Comerica Bank raised its holdings in shares of Universal Display by 19.9% during the first quarter. Comerica Bank now owns 21,879 shares of the semiconductor company's stock valued at $3,052,000 after purchasing an additional 3,624 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Universal Display by 73.8% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,407,846 shares of the semiconductor company's stock valued at $614,806,000 after purchasing an additional 1,871,333 shares during the period. Synovus Financial Corp raised its holdings in shares of Universal Display by 9.9% during the first quarter. Synovus Financial Corp now owns 6,770 shares of the semiconductor company's stock valued at $944,000 after purchasing an additional 610 shares during the period. Systematic Financial Management LP raised its holdings in shares of Universal Display by 0.5% during the first quarter. Systematic Financial Management LP now owns 129,010 shares of the semiconductor company's stock valued at $17,994,000 after purchasing an additional 653 shares during the period. Finally, Jump Financial LLC acquired a new position in shares of Universal Display during the first quarter valued at about $1,309,000. Institutional investors and hedge funds own 78.19% of the company's stock.

Universal Display Stock Down 1.9%

OLED stock traded down $2.63 during trading on Friday, reaching $138.59. The stock had a trading volume of 446,661 shares, compared to its average volume of 650,459. Universal Display Corporation has a one year low of $103.70 and a one year high of $215.90. The company's 50 day moving average is $148.62 and its two-hundred day moving average is $144.35. The company has a market capitalization of $6.59 billion, a price-to-earnings ratio of 27.07, a P/E/G ratio of 4.14 and a beta of 1.47.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.23. Universal Display had a net margin of 36.95% and a return on equity of 15.82%. The business had revenue of $171.79 million during the quarter, compared to the consensus estimate of $161.58 million. During the same period in the prior year, the firm posted $1.10 EPS. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. 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 fiscal year.

Universal Display Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and set a $170.00 price objective on shares of Universal Display in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Universal Display from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Finally, Zacks Research lowered shares of Universal Display from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Universal Display currently has an average rating of "Moderate Buy" and a consensus target price of $190.43.

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.