Universal Display Corporation $OLED Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its stake in shares of Universal Display Corporation (NASDAQ:OLED) by 890.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,091 shares of the semiconductor company’s stock after purchasing an additional 34,247 shares during the quarter. Hsbc Holdings PLC’s holdings in Universal Display were worth $4,489,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Universal Display in the 4th quarter valued at about $92,756,000. JPMorgan Chase & Co. increased its stake in shares of Universal Display by 86.4% during the fourth quarter. JPMorgan Chase & Co. now owns 880,678 shares of the semiconductor company’s stock worth $102,846,000 after buying an additional 408,315 shares during the period. Analog Century Management LP purchased a new stake in shares of Universal Display during the fourth quarter worth approximately $46,914,000. UBS Group AG raised its holdings in Universal Display by 100.8% in the fourth quarter. UBS Group AG now owns 646,787 shares of the semiconductor company’s stock valued at $75,532,000 after acquiring an additional 324,677 shares in the last quarter. Finally, Rafferty Asset Management LLC raised 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 acquiring an additional 222,327 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Trading Down 0.4%

Shares of NASDAQ:OLED opened at $87.16 on Friday. The company has a market capitalization of $4.07 billion, a PE ratio of 19.46 and a beta of 1.54. Universal Display Corporation has a twelve month low of $83.64 and a twelve month high of $162.36. The firm has a 50 day simple moving average of $91.98 and a 200-day simple moving average of $104.01.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.37). The company had revenue of $142.21 million during the quarter, compared to analyst estimates of $161.23 million. Universal Display had a net margin of 34.08% and a return on equity of 12.34%. The company’s quarterly revenue was down 14.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.35 EPS. As a group, equities research analysts predict that Universal Display Corporation will post 4.23 EPS for the current fiscal year.

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, June 16th. Universal Display’s dividend payout ratio is currently 44.64%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on OLED shares. Needham & Company LLC lowered their price target on shares of Universal Display from $145.00 to $120.00 and set a “buy” rating for the company in a report on Friday, May 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Universal Display in a research report on Thursday, June 18th. The Goldman Sachs Group set a $135.00 target price on shares of Universal Display in a research note on Tuesday, April 21st. Citigroup dropped their target price on Universal Display from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Finally, Oppenheimer cut their price target on Universal Display from $160.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $130.60.

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.