Legacy Wealth Asset Management LLC Trims Stock Position in Universal Display Corporation $OLED

Legacy Wealth Asset Management LLC lessened its holdings in Universal Display Corporation (NASDAQ:OLED) by 13.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,443 shares of the semiconductor company’s stock after selling 390 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Universal Display were worth $377,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Universal Display by 73.8% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,407,846 shares of the semiconductor company’s stock valued at $614,806,000 after purchasing an additional 1,871,333 shares in the last quarter. Primecap Management Co. CA lifted its holdings in shares of Universal Display by 2.1% in the first quarter. Primecap Management Co. CA now owns 1,835,722 shares of the semiconductor company’s stock valued at $256,047,000 after purchasing an additional 38,590 shares in the last quarter. Brown Advisory Inc. purchased a new stake in shares of Universal Display in the first quarter valued at about $72,327,000. Raymond James Financial Inc. lifted its holdings in shares of Universal Display by 64.4% in the first quarter. Raymond James Financial Inc. now owns 466,612 shares of the semiconductor company’s stock valued at $65,083,000 after purchasing an additional 182,730 shares in the last quarter. Finally, Copeland Capital Management LLC raised its position in shares of Universal Display by 15.0% in the second quarter. Copeland Capital Management LLC now owns 457,396 shares of the semiconductor company’s stock valued at $70,650,000 after buying an additional 59,640 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Stock Performance

Shares of OLED stock opened at $149.76 on Wednesday. Universal Display Corporation has a one year low of $103.70 and a one year high of $214.57. The company has a 50 day moving average price of $142.71 and a 200 day moving average price of $142.99. The firm has a market capitalization of $7.12 billion, a price-to-earnings ratio of 29.25, a price-to-earnings-growth ratio of 4.44 and a beta of 1.55.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $1.41 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 analyst estimates of $161.58 million. During the same quarter in the prior year, the business posted $1.10 earnings per share. Universal Display’s revenue for the quarter was up 8.4% compared to the same quarter last year. Universal Display has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.80 annualized dividend and a yield of 1.2%. Universal Display’s dividend payout ratio is 35.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on OLED shares. Zacks Research lowered shares of Universal Display from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Universal Display in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Universal Display 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.