NewEdge Wealth LLC Acquires New Position in Universal Display Corporation $OLED

NewEdge Wealth LLC acquired a new position in shares of Universal Display Corporation (NASDAQ:OLED) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 23,469 shares of the semiconductor company’s stock, valued at approximately $2,032,000.

Other large investors also recently made changes to their positions in the company. Focus Partners Wealth raised its position in shares of Universal Display by 6.4% during the 1st quarter. Focus Partners Wealth now owns 3,680 shares of the semiconductor company’s stock worth $513,000 after buying an additional 221 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Universal Display by 2.3% in the 2nd quarter. American Century Companies Inc. now owns 12,766 shares of the semiconductor company’s stock worth $1,972,000 after purchasing an additional 285 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Universal Display by 1.8% in the 2nd quarter. Invesco Ltd. now owns 112,982 shares of the semiconductor company’s stock worth $17,451,000 after purchasing an additional 2,040 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Universal Display in the second quarter valued at $2,220,000. Finally, Cresset Asset Management LLC raised its position in shares of Universal Display by 64.2% during the second quarter. Cresset Asset Management LLC now owns 2,512 shares of the semiconductor company’s stock worth $388,000 after purchasing an additional 982 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Trading Down 0.0%

Shares of NASDAQ:OLED opened at $86.50 on Friday. The firm has a market capitalization of $3.98 billion, a PE ratio of 20.94 and a beta of 1.54. Universal Display Corporation has a 1-year low of $76.42 and a 1-year high of $153.38. The business’s 50 day moving average is $84.51 and its 200-day moving average is $93.95.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. The firm had revenue of $152.16 million for the quarter, compared to the consensus estimate of $157.54 million. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The business’s revenue was down 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.41 earnings per share. On average, sell-side analysts predict that Universal Display Corporation will post 4.18 EPS for the current year.

Universal Display Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a $0.50 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. Universal Display’s payout ratio is 48.43%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on OLED shares. Zacks Research upgraded Universal Display from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Needham & Company LLC lowered their price target on Universal Display from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Roth Capital set a $168.00 target price on shares of Universal Display in a research report on Friday, May 1st. Oppenheimer reissued an “outperform” rating and issued a $120.00 price target (down from $130.00) on shares of Universal Display in a research report on Friday, July 31st. Finally, Weiss Ratings downgraded shares of Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $116.33.

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.