UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Holdings in Universal Display Corporation $OLED

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in Universal Display Corporation (NASDAQ:OLED) by 6.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 94,707 shares of the semiconductor company’s stock after selling 6,913 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.21% of Universal Display worth $8,201,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. North Star Asset Management Inc. purchased a new stake in Universal Display in the second quarter valued at approximately $502,000. Empowered Funds LLC acquired a new position in Universal Display during the second quarter worth $344,000. Public Employees Retirement System of Ohio purchased a new position in shares of Universal Display during the second quarter worth $1,097,000. XXEC Inc. acquired a new stake in shares of Universal Display in the second quarter valued at $63,716,000. Finally, Corient Private Wealth LP acquired a new stake in shares of Universal Display in the second quarter valued at $590,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Stock Performance

Universal Display stock opened at $82.33 on Tuesday. The firm has a market capitalization of $3.78 billion, a P/E ratio of 19.93 and a beta of 1.56. Universal Display Corporation has a twelve month low of $76.42 and a twelve month high of $153.38. The stock’s fifty day simple moving average is $83.50 and its 200-day simple moving average is $90.72.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.03. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The firm had revenue of $152.16 million during the quarter, compared to analyst estimates of $157.54 million. During the same period last year, the business posted $1.41 earnings per share. Universal Display’s revenue was down 11.4% compared to the same quarter last year. Sell-side analysts predict that Universal Display Corporation will post 4.17 earnings per share for the current year.

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, September 16th. Universal Display’s dividend payout ratio (DPR) is presently 48.43%.

Analysts Set New Price Targets

OLED has been the topic of several research analyst reports. BTIG Research downgraded Universal Display to a “neutral” rating in a report on Friday, July 31st. Citigroup dropped their target price on Universal Display from $100.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Weiss Ratings lowered shares of Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Oppenheimer reissued an “outperform” rating and set a $120.00 price target (down from $130.00) on shares of Universal Display in a research report on Friday, July 31st. Finally, Susquehanna lowered their price objective on shares of Universal Display from $110.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $116.33.

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.