Universal Display Corporation $OLED Stock Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP cut its Universal Display stake by 95.1% in the second quarter, selling 133,967 shares and retaining 6,927 shares valued at approximately $600,000. Institutional investors own 78.19% of the company.
• Analyst sentiment is broadly neutral: Universal Display has an average “Hold” rating and a consensus price target of $116.33, although several firms recently lowered their targets or downgraded the stock.
• Universal Display reported quarterly EPS of $1.06, slightly exceeding estimates, but revenue fell 11.4% year over year to $152.16 million. The company also declared a quarterly dividend of $0.50 per share, representing a 2.6% annualized yield.

Corient Private Wealth LP cut its position in Universal Display Corporation (NASDAQ:OLED - Free Report) by 95.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,927 shares of the semiconductor company's stock after selling 133,967 shares during the quarter. Corient Private Wealth LP's holdings in Universal Display were worth $600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Universal Display in the 2nd quarter worth approximately $3,196,000. AlphaGrep UK Ltd purchased a new position in shares of Universal Display in the 2nd quarter valued at approximately $298,000. Nykredit A S purchased a new stake in Universal Display in the second quarter worth about $159,000. BTG Pactual Asset Management US LLC bought a new position in shares of Universal Display during the second quarter valued at $293,000. Finally, Sigma Planning Corp lifted its position in Universal Display by 3.1% in the 2nd quarter. Sigma Planning Corp now owns 11,188 shares of the semiconductor company's stock valued at $969,000 after acquiring an additional 336 shares in the last quarter. 78.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on OLED shares. Zacks Research upgraded Universal Display from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 13th. Susquehanna reduced their target price on shares of Universal Display from $110.00 to $90.00 and set a "neutral" rating on the stock in a report on Friday, July 31st. Citigroup reduced their price target on Universal Display from $100.00 to $85.00 and set a "neutral" rating on the stock in a report on Monday, August 3rd. Needham & Company LLC dropped their price objective on Universal Display from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, July 31st. Finally, BTIG Research cut Universal Display to a "neutral" rating in a research note on Friday, July 31st. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $116.33.

Universal Display Trading Up 0.9%

Shares of OLED stock opened at $76.16 on Wednesday. The company's 50-day moving average price is $82.71 and its 200-day moving average price is $87.73. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 18.44 and a beta of 1.56. Universal Display Corporation has a twelve month low of $73.23 and a twelve month high of $153.38.

Universal Display (NASDAQ:OLED - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.03. The firm had revenue of $152.16 million during the quarter, compared to analysts' expectations of $157.54 million. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The firm's quarterly revenue was down 11.4% on a year-over-year basis. During the same quarter last year, the company posted $1.41 EPS. As a group, equities research analysts predict that Universal Display Corporation will post 4.17 EPS for the current year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, September 16th. Universal Display's dividend payout ratio (DPR) is presently 48.43%.

Universal Display Profile

Universal Display Corporation NASDAQ: OLED develops and commercializes organic light-emitting diode (OLED) technologies and materials. The company's business is centered on high-efficiency phosphorescent OLED (PHOLED) technology, which is designed to improve the performance and energy efficiency of OLED displays and lighting products.

Universal Display supplies OLED emitter materials and other related products to manufacturers and provides technology licenses, technical assistance and support under agreements covering its intellectual property.

Want to see what other hedge funds are holding OLED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Display Corporation (NASDAQ:OLED - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.