Hsbc Holdings PLC Sells 11,337 Shares of Universal Display Corporation $OLED

Hsbc Holdings PLC trimmed its position in shares of Universal Display Corporation (NASDAQ:OLED) by 29.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,754 shares of the semiconductor company’s stock after selling 11,337 shares during the period. Hsbc Holdings PLC owned 0.06% of Universal Display worth $2,425,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Measured Wealth Private Client Group LLC acquired a new stake in Universal Display in the 3rd quarter valued at about $33,000. RHL Group LLC acquired a new position in Universal Display during the fourth quarter worth approximately $60,000. Canada Pension Plan Investment Board bought a new stake in Universal Display in the second quarter valued at approximately $62,000. UMB Bank n.a. raised its stake in Universal Display by 28.3% in the fourth quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company’s stock valued at $64,000 after buying an additional 121 shares during the period. Finally, Global X Japan Co. Ltd. lifted its position in shares of Universal Display by 61.6% in the fourth quarter. Global X Japan Co. Ltd. now owns 580 shares of the semiconductor company’s stock valued at $68,000 after buying an additional 221 shares during the last quarter. Institutional investors own 78.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on OLED shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Universal Display in a report on Thursday, June 18th. Oppenheimer cut their price target on Universal Display from $160.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Needham & Company LLC reduced their price objective on shares of Universal Display from $145.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Zacks Research downgraded shares of Universal Display from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Finally, The Goldman Sachs Group set a $135.00 price objective on shares of Universal Display in a research report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Universal Display presently has an average rating of “Hold” and an average price target of $130.60.

Universal Display Price Performance

Shares of NASDAQ OLED opened at $79.27 on Friday. The business has a fifty day moving average price of $86.42 and a two-hundred day moving average price of $98.67. The stock has a market capitalization of $3.71 billion, a PE ratio of 17.69 and a beta of 1.54. Universal Display Corporation has a fifty-two week low of $77.15 and a fifty-two week high of $153.38.

Universal Display (NASDAQ:OLED) last released 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 for the quarter, compared to analyst estimates of $161.23 million. Universal Display had a return on equity of 12.34% and a net margin of 34.08%.The business’s revenue for the quarter was down 14.5% compared to the same quarter last year. During the same period last year, the company posted $1.35 earnings per share. On average, equities analysts expect that Universal Display Corporation will post 4.23 EPS for the current year.

Universal Display Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, June 16th. Universal Display’s dividend payout ratio is 44.64%.

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.