Universal Display Corporation $OLED Stock Holdings Reduced by Pacer Advisors Inc.

Key Points

• Pacer Advisors slashed its Universal Display stake by 95.3% in the first quarter, selling 107,837 shares and retaining 5,370 shares worth approximately $492,000. Institutional investors collectively own 78.19% of the company.
• Universal Display reported quarterly EPS of $1.06, exceeding the $1.03 consensus estimate, but revenue fell 11.4% year over year to $152.16 million, below expectations.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $116.33; the company also announced a quarterly dividend of $0.50 per share, implying a 2.1% yield.

Pacer Advisors Inc. reduced its position in Universal Display Corporation (NASDAQ:OLED - Free Report) by 95.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,370 shares of the semiconductor company's stock after selling 107,837 shares during the period. Pacer Advisors Inc.'s holdings in Universal Display were worth $492,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC bought a new stake in shares of Universal Display in the 3rd quarter valued at approximately $33,000. RHL Group LLC acquired a new position in Universal Display in the fourth quarter worth approximately $60,000. Canada Pension Plan Investment Board bought a new position in Universal Display during the second quarter valued at approximately $62,000. UMB Bank n.a. raised its position in Universal Display by 28.3% during the fourth quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company's stock valued at $64,000 after acquiring an additional 121 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Universal Display in the fourth quarter valued at approximately $75,000. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Stock Up 3.9%

Shares of Universal Display stock opened at $94.04 on Wednesday. Universal Display Corporation has a 12-month low of $76.42 and a 12-month high of $153.38. The stock has a 50 day moving average price of $84.64 and a two-hundred day moving average price of $95.42. The stock has a market capitalization of $4.32 billion, a P/E ratio of 22.77 and a beta of 1.54.

Universal Display (NASDAQ:OLED - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.03. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The company had revenue of $152.16 million for the quarter, compared to analyst estimates of $157.54 million. During the same quarter last year, the firm posted $1.41 earnings per share. The company's quarterly revenue was down 11.4% compared to the same quarter last year. Sell-side analysts anticipate that Universal Display Corporation will post 4.18 earnings per share for the current year.

Universal Display Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, September 16th. Universal Display's dividend payout ratio (DPR) is 48.43%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Susquehanna decreased their target price on shares of Universal Display from $110.00 to $90.00 and set a "neutral" rating for the company in a research report on Friday, July 31st. Needham & Company LLC reduced their price objective on shares of Universal Display from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, July 31st. Citigroup reduced their price objective on shares of Universal Display from $100.00 to $85.00 and set a "neutral" rating for the company in a research note on Monday, August 3rd. Weiss Ratings downgraded shares of Universal Display from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. Finally, Oppenheimer reissued an "outperform" rating and set 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, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $116.33.

Universal Display 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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