Voya Investment Management LLC Cuts Holdings in Universal Display Corporation $OLED

Key Points

• Voya Investment Management LLC sold 25,687 shares of Universal Display Corporation, reducing its stake by 66.3% in the first quarter, leaving it with 13,043 shares valued at $1,819,000.
• Universal Display reported earnings per share (EPS) of $1.41 for the recent quarter, surpassing estimates and marked an 8.4% increase in revenue year-over-year.
• The company announced a $0.45 quarterly dividend, translating to an annual yield of 1.3%, with the ex-dividend date set for September 16th.

Voya Investment Management LLC reduced its position in Universal Display Corporation (NASDAQ:OLED - Free Report) by 66.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,043 shares of the semiconductor company's stock after selling 25,687 shares during the quarter. Voya Investment Management LLC's holdings in Universal Display were worth $1,819,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OLED. Kayne Anderson Rudnick Investment Management LLC raised its position 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 purchasing an additional 1,871,333 shares during the period. Brown Advisory Inc. purchased a new stake in Universal Display in the 1st quarter worth about $72,327,000. FengHe Fund Management Pte. Ltd. purchased a new stake in Universal Display in the 1st quarter worth about $41,147,000. Raymond James Financial Inc. raised its position in 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 period. Finally, GAMMA Investing LLC raised its position in Universal Display by 32,547.2% in the 1st quarter. GAMMA Investing LLC now owns 134,180 shares of the semiconductor company's stock worth $18,715,000 after purchasing an additional 133,769 shares during the period. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Trading Up 1.0%

Shares of NASDAQ:OLED traded up $1.36 on Monday, hitting $143.37. 896,375 shares of the company were exchanged, compared to its average volume of 781,443. The stock's 50 day moving average price is $143.00 and its 200 day moving average price is $143.06. Universal Display Corporation has a 1-year low of $103.70 and a 1-year high of $215.90. The firm has a market capitalization of $6.81 billion, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 4.17 and a beta of 1.50.

Universal Display (NASDAQ:OLED - Get Free Report) last issued 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. Universal Display had a net margin of 36.95% and a return on equity of 15.82%. The firm had revenue of $171.79 million during the quarter, compared to analysts' expectations of $161.58 million. During the same quarter last year, the company posted $1.10 earnings per share. The firm's revenue was up 8.4% compared to the same quarter last year. Universal Display has set its FY 2025 guidance at EPS. On average, equities analysts predict that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Dividend Announcement

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

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 note on Tuesday, August 19th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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.