Vest Financial LLC Increases Stake in Universal Display Corporation $OLED

Vest Financial LLC increased its position in shares of Universal Display Corporation (NASDAQ:OLED) by 34.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,543 shares of the semiconductor company’s stock after purchasing an additional 9,307 shares during the period. Vest Financial LLC’s holdings in Universal Display were worth $5,249,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Impact Capital Partners LLC lifted its stake in Universal Display by 1.4% in the second quarter. Impact Capital Partners LLC now owns 4,823 shares of the semiconductor company’s stock worth $745,000 after purchasing an additional 67 shares during the last quarter. HM Payson & Co. lifted its stake in shares of Universal Display by 10.7% during the 3rd quarter. HM Payson & Co. now owns 734 shares of the semiconductor company’s stock worth $105,000 after acquiring an additional 71 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Universal Display by 9.7% during the 2nd quarter. Parallel Advisors LLC now owns 848 shares of the semiconductor company’s stock valued at $131,000 after acquiring an additional 75 shares during the period. Farther Finance Advisors LLC boosted its holdings in Universal Display by 27.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 351 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 75 shares during the period. Finally, Wealth Alliance LLC grew its position in Universal Display by 4.0% in the 2nd quarter. Wealth Alliance LLC now owns 2,186 shares of the semiconductor company’s stock valued at $338,000 after acquiring an additional 85 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on OLED shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a research report on Wednesday, December 24th. Wall Street Zen lowered shares of Universal Display from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Zacks Research downgraded shares of Universal Display from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 target price on shares of Universal Display in a research report on Monday, December 22nd. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Universal Display currently has an average rating of “Hold” and a consensus price target of $177.60.

Universal Display Price Performance

NASDAQ:OLED opened at $117.92 on Thursday. Universal Display Corporation has a 1-year low of $103.70 and a 1-year high of $164.29. The company has a 50-day moving average of $118.81 and a 200 day moving average of $135.11. The firm has a market cap of $5.61 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 3.26 and a beta of 1.62.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.27). Universal Display had a net margin of 34.65% and a return on equity of 14.10%. The business had revenue of $139.61 million during the quarter, compared to the consensus estimate of $165.56 million. During the same quarter in the prior year, the firm posted $1.40 EPS. The company’s revenue for the quarter was down 13.6% compared to the same quarter last year. Sell-side analysts anticipate 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 was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were issued a dividend of $0.45 per share. The ex-dividend date was Wednesday, December 17th. This represents a $1.80 dividend on an annualized basis and a yield of 1.5%. Universal Display’s dividend payout ratio is currently 38.79%.

Universal Display Profile

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.