Atlantic Union Bankshares Corp Acquires 15,359 Shares of Universal Display Corporation $OLED

Atlantic Union Bankshares Corp lifted its stake in Universal Display Corporation (NASDAQ:OLED) by 6,143.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,609 shares of the semiconductor company’s stock after acquiring an additional 15,359 shares during the period. Atlantic Union Bankshares Corp’s holdings in Universal Display were worth $2,242,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. HM Payson & Co. lifted its holdings in 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 purchasing an additional 71 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Universal Display by 27.2% during the third quarter. Farther Finance Advisors LLC now owns 351 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 75 shares during the period. Wealth Alliance LLC lifted its holdings in shares of Universal Display by 4.0% in the second quarter. Wealth Alliance LLC now owns 2,186 shares of the semiconductor company’s stock worth $338,000 after buying an additional 85 shares in the last quarter. Rise Advisors LLC lifted its holdings in shares of Universal Display by 53.3% in the third quarter. Rise Advisors LLC now owns 299 shares of the semiconductor company’s stock worth $43,000 after buying an additional 104 shares in the last quarter. Finally, Money Concepts Capital Corp boosted its position in shares of Universal Display by 0.7% in the third quarter. Money Concepts Capital Corp now owns 15,602 shares of the semiconductor company’s stock valued at $2,241,000 after acquiring an additional 115 shares during the period. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on OLED shares. Wall Street Zen raised shares of Universal Display from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Citigroup decreased their price target on shares of Universal Display from $150.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, January 27th. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 price objective on shares of Universal Display in a research report on Monday, December 22nd. Zacks Research cut Universal Display from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Universal Display in a research note on Wednesday, December 24th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $171.20.

Universal Display Stock Performance

Shares of NASDAQ:OLED opened at $117.24 on Wednesday. Universal Display Corporation has a 52-week low of $103.70 and a 52-week high of $164.29. The firm has a fifty day moving average of $119.53 and a 200 day moving average of $132.65. The firm has a market capitalization of $5.57 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 3.32 and a beta of 1.63.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.27). Universal Display had a net margin of 34.65% and a return on equity of 14.10%. The firm had revenue of $139.61 million for the quarter, compared to analysts’ expectations of $165.56 million. During the same quarter in the previous year, the business earned $1.40 EPS. The company’s revenue for the quarter was down 13.6% on a year-over-year basis. On average, sell-side analysts forecast that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

About Universal Display

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.