Vest Financial LLC Has $5.34 Million Position in Universal Display Corporation $OLED

Vest Financial LLC lifted its position in shares of Universal Display Corporation (NASDAQ:OLED) by 25.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,681 shares of the semiconductor company’s stock after acquiring an additional 9,138 shares during the period. Vest Financial LLC’s holdings in Universal Display were worth $5,335,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Universal Display by 10.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,069,107 shares of the semiconductor company’s stock valued at $728,076,000 after purchasing an additional 460,792 shares during the last quarter. UBS Group AG boosted its stake in shares of Universal Display by 100.8% during the fourth quarter. UBS Group AG now owns 646,787 shares of the semiconductor company’s stock valued at $75,532,000 after purchasing an additional 324,677 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in Universal Display by 63.2% in the second quarter. Rafferty Asset Management LLC now owns 574,161 shares of the semiconductor company’s stock valued at $88,685,000 after purchasing an additional 222,327 shares during the period. Deprince Race & Zollo Inc. raised its position in Universal Display by 86.6% during the 4th quarter. Deprince Race & Zollo Inc. now owns 428,335 shares of the semiconductor company’s stock worth $50,021,000 after purchasing an additional 198,845 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in Universal Display by 58.8% during the 2nd quarter. Bank of America Corp DE now owns 447,993 shares of the semiconductor company’s stock worth $69,197,000 after buying an additional 165,939 shares during the period. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Stock Performance

OLED stock opened at $91.18 on Wednesday. The business has a 50-day simple moving average of $98.03 and a two-hundred day simple moving average of $115.52. The company has a market capitalization of $4.26 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 7.70 and a beta of 1.65. Universal Display Corporation has a 52-week low of $86.43 and a 52-week high of $163.21.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, February 19th. The semiconductor company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.11. The company had revenue of $172.93 million for the quarter, compared to analyst estimates of $173.35 million. Universal Display had a return on equity of 14.07% and a net margin of 37.21%.The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned $1.22 earnings per share. As a group, sell-side analysts forecast that Universal Display Corporation will post 4.82 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were issued a $0.50 dividend. This is an increase from Universal Display’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Tuesday, March 17th. Universal Display’s dividend payout ratio is currently 39.45%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citigroup cut their price objective on Universal Display from $130.00 to $105.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Universal Display in a research report on Monday, March 23rd. Needham & Company LLC dropped their price target on Universal Display from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Roth Mkm reiterated a “buy” rating and issued a $180.00 price objective on shares of Universal Display in a research note on Friday, February 20th. Finally, Wall Street Zen upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $141.25.

Universal Display Company 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.