Voya Investment Management LLC Sells 25,687 Shares of 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 shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 66.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,043 shares of the semiconductor company's stock after selling 25,687 shares during the period. Voya Investment Management LLC's holdings in Universal Display were worth $1,819,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC increased its position in Universal Display by 87.9% in the 1st quarter. Rise Advisors LLC now owns 186 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 87 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in Universal Display by 4,700.0% during the first quarter. Golden State Wealth Management LLC now owns 240 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 235 shares during the period. Brooklyn Investment Group grew its holdings in Universal Display by 98.5% during the first quarter. Brooklyn Investment Group now owns 270 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 134 shares during the period. Global X Japan Co. Ltd. acquired a new position in Universal Display during the first quarter valued at approximately $49,000. Finally, Banque Transatlantique SA bought a new position in Universal Display in the first quarter valued at approximately $45,000. 78.19% of the stock is owned by institutional investors.

Universal Display Stock Performance

NASDAQ:OLED opened at $142.01 on Monday. Universal Display Corporation has a 52 week low of $103.70 and a 52 week high of $215.90. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 27.74, a P/E/G ratio of 4.17 and a beta of 1.50. The firm's 50-day simple moving average is $143.19 and its 200 day simple moving average is $143.17.

Universal Display (NASDAQ:OLED - Get Free Report) last released its earnings results on Thursday, July 31st. The semiconductor company reported $1.41 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $161.58 million. During the same period last year, the firm earned $1.10 EPS. The business's quarterly revenue was up 8.4% compared to the same quarter last year. Universal Display has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Universal Display Corporation will post 4.71 EPS for the current year.

Universal Display Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.

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