TD Private Client Wealth LLC Lowers Stock Position in Universal Display Corporation $OLED

TD Private Client Wealth LLC cut its position in shares of Universal Display Corporation (NASDAQ:OLED) by 50.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,809 shares of the semiconductor company’s stock after selling 6,991 shares during the quarter. TD Private Client Wealth LLC’s holdings in Universal Display were worth $795,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in Universal Display by 3.1% during the third quarter. JPMorgan Chase & Co. now owns 472,363 shares of the semiconductor company’s stock valued at $67,846,000 after purchasing an additional 14,356 shares in the last quarter. Peregrine Investment Management Inc. raised its position in shares of Universal Display by 24.7% in the third 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 raised its position in shares of Universal Display by 54.7% in the third quarter. Truist Financial Corp now owns 63,262 shares of the semiconductor company’s stock valued at $9,086,000 after buying an additional 22,380 shares during the last quarter. Aquatic Capital Management LLC increased its position in Universal Display by 891.6% during the third quarter. Aquatic Capital Management LLC now owns 28,588 shares of the semiconductor company’s stock worth $4,106,000 after purchasing an additional 25,705 shares during the last quarter. Finally, AI Squared Management Ltd acquired a new stake in Universal Display during the third quarter worth about $5,515,000. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Price Performance

Shares of Universal Display stock opened at $90.66 on Thursday. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 20.24 and a beta of 1.54. The firm’s fifty day simple moving average is $94.08 and its 200-day simple moving average is $109.99. Universal Display Corporation has a 12 month low of $83.64 and a 12 month high of $163.21.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data 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 firm 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 business’s quarterly revenue was down 14.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.35 earnings per share. Analysts anticipate that Universal Display Corporation will post 4.4 earnings per share for the current year.

Universal Display Announces Dividend

The company 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 2.2%. The ex-dividend date of this dividend is Tuesday, June 16th. Universal Display’s payout ratio is currently 44.64%.

Analysts Set New Price Targets

Several brokerages have weighed in on OLED. The Goldman Sachs Group set a $135.00 target price on shares of Universal Display in a research note on Tuesday, April 21st. Wall Street Zen raised shares of Universal Display from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Needham & Company LLC decreased their price target on shares of Universal Display from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Roth Mkm set a $168.00 price target on shares of Universal Display in a research note on Friday, May 1st. Finally, Citigroup cut their price objective on shares of Universal Display from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Three 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $130.60.

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.