Wellington Management Group LLP Sells 27,061 Shares of Universal Display Corporation $OLED

Key Points

• Wellington Management Group LLP reduced its stake in Universal Display Corporation by 19.0%, now owning 115,269 shares valued at approximately $16 million.
• Despite the reduction by Wellington, other investors like Brooklyn Investment Group and Raymond James Financial Inc. increased their positions significantly, indicating continued institutional interest.
• Universal Display announced a quarterly dividend of $0.45 per share, which indicates an annualized yield of 1.3% and a dividend payout ratio of 35.16%.

Wellington Management Group LLP cut its stake in Universal Display Corporation (NASDAQ:OLED - Free Report) by 19.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,269 shares of the semiconductor company's stock after selling 27,061 shares during the quarter. Wellington Management Group LLP owned about 0.24% of Universal Display worth $16,078,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Orion Capital Management LLC bought a new position in Universal Display in the 4th quarter worth $29,000. Golden State Wealth Management LLC raised its holdings in Universal Display by 4,700.0% in the 1st quarter. Golden State Wealth Management LLC now owns 240 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 235 shares in the last quarter. Brooklyn Investment Group raised its holdings in Universal Display by 98.5% in the 1st quarter. Brooklyn Investment Group now owns 270 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 134 shares in the last quarter. Global X Japan Co. Ltd. bought a new position in Universal Display in the 1st quarter worth $49,000. Finally, Summit Securities Group LLC bought a new position in Universal Display in the 1st quarter worth $57,000. 78.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Zacks Research cut shares of Universal Display from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $190.43.

Universal Display Stock Down 1.9%

Shares of NASDAQ OLED traded down $2.63 during midday trading on Monday, hitting $138.59. The stock had a trading volume of 446,661 shares, compared to its average volume of 503,502. The business's 50 day moving average is $148.09 and its 200-day moving average is $144.31. Universal Display Corporation has a 52 week low of $103.70 and a 52 week high of $215.90. The company has a market cap of $6.59 billion, a P/E ratio of 27.07, a PEG ratio of 4.07 and a beta of 1.50.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.23. The firm had revenue of $171.79 million during the quarter, compared to analyst estimates of $161.58 million. Universal Display had a net margin of 36.95% and a return on equity of 15.82%. The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.10 earnings per share. Universal Display has set its FY 2025 guidance at EPS. As a group, analysts expect that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a $0.45 dividend. 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 payout ratio is 35.16%.

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.