WINTON GROUP Ltd Decreases Position in Universal Display Corporation $OLED

WINTON GROUP Ltd decreased its position in Universal Display Corporation (NASDAQ:OLED) by 38.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,433 shares of the semiconductor company’s stock after selling 7,244 shares during the period. WINTON GROUP Ltd’s holdings in Universal Display were worth $1,642,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Peregrine Investment Management Inc. grew its holdings in Universal Display by 24.7% during the 3rd quarter. Peregrine Investment Management Inc. now owns 50,560 shares of the semiconductor company’s stock valued at $7,262,000 after buying an additional 10,000 shares during the last quarter. Truist Financial Corp increased its position in Universal Display by 54.7% during the third quarter. Truist Financial Corp now owns 63,262 shares of the semiconductor company’s stock worth $9,086,000 after buying an additional 22,380 shares in the last quarter. Baker Avenue Asset Management LP acquired a new position in shares of Universal Display in the second quarter worth $1,398,000. Creative Planning raised its holdings in shares of Universal Display by 12.7% in the second quarter. Creative Planning now owns 19,847 shares of the semiconductor company’s stock worth $3,066,000 after acquiring an additional 2,239 shares during the last quarter. Finally, Avenir Corp lifted its position in shares of Universal Display by 14.5% in the second quarter. Avenir Corp now owns 223,150 shares of the semiconductor company’s stock valued at $34,468,000 after acquiring an additional 28,277 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wall Street Zen raised Universal Display from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Needham & Company LLC reduced their target price on shares of Universal Display from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Roth Mkm reaffirmed a “buy” rating and set a $180.00 price target on shares of Universal Display in a research note on Friday, February 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a report on Wednesday, December 24th. Finally, Zacks Research lowered shares of Universal Display from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $151.67.

Universal Display Stock Down 2.0%

OLED stock opened at $96.65 on Wednesday. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 7.59 and a beta of 1.65. Universal Display Corporation has a 52-week low of $93.50 and a 52-week high of $163.21. The stock’s fifty day simple moving average is $116.10 and its 200-day simple moving average is $127.09.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, February 19th. The semiconductor company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.28 by $0.11. Universal Display had a return on equity of 14.07% and a net margin of 37.21%.The firm had revenue of $172.93 million during the quarter, compared to analyst estimates of $173.35 million. During the same period in the prior year, the firm posted $1.22 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, analysts anticipate that Universal Display Corporation will post 4.71 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from Universal Display’s previous quarterly dividend of $0.45. Universal Display’s dividend payout ratio is currently 35.50%.

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.