Thrivent Financial for Lutherans Has $2.23 Million Position in Universal Display Corporation $OLED

Thrivent Financial for Lutherans lessened its position in Universal Display Corporation (NASDAQ:OLED) by 32.8% in the 2nd quarter, Holdings Channel reports. The firm owned 14,447 shares of the semiconductor company’s stock after selling 7,036 shares during the period. Thrivent Financial for Lutherans’ holdings in Universal Display were worth $2,231,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OLED. Advisory Services Network LLC grew its holdings in shares of Universal Display by 4.5% in the 2nd quarter. Advisory Services Network LLC now owns 56,950 shares of the semiconductor company’s stock valued at $8,224,000 after buying an additional 2,466 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Universal Display by 7.1% during the second quarter. Tower Research Capital LLC TRC now owns 2,040 shares of the semiconductor company’s stock worth $315,000 after acquiring an additional 136 shares in the last quarter. Corient Private Wealth LLC grew its stake in Universal Display by 110.7% in the second quarter. Corient Private Wealth LLC now owns 30,774 shares of the semiconductor company’s stock valued at $4,754,000 after acquiring an additional 16,170 shares during the period. Captrust Financial Advisors increased its holdings in shares of Universal Display by 4.6% in the second quarter. Captrust Financial Advisors now owns 3,027 shares of the semiconductor company’s stock worth $468,000 after acquiring an additional 134 shares in the last quarter. Finally, Vident Advisory LLC increased its holdings in shares of Universal Display by 44.1% in the second quarter. Vident Advisory LLC now owns 2,196 shares of the semiconductor company’s stock worth $339,000 after acquiring an additional 672 shares in the last quarter. 78.19% of the stock is owned by institutional investors.

Universal Display Price Performance

Shares of NASDAQ:OLED opened at $118.48 on Wednesday. The company’s 50-day moving average price is $127.82 and its two-hundred day moving average price is $140.23. Universal Display Corporation has a one year low of $103.70 and a one year high of $164.29. The stock has a market capitalization of $5.63 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 3.65 and a beta of 1.62.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.27). Universal Display had a net margin of 34.65% and a return on equity of 14.10%. The company had revenue of $139.61 million during the quarter, compared to the consensus estimate of $165.56 million. During the same quarter in the previous year, the business earned $1.40 EPS. Universal Display’s revenue was down 13.6% on a year-over-year basis. On average, analysts anticipate that Universal Display Corporation will post 4.71 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $1.80 annualized dividend and a dividend yield of 1.5%. Universal Display’s payout ratio is 38.79%.

Analysts Set New Price Targets

Several brokerages have commented on OLED. Needham & Company LLC restated a “buy” rating and set a $150.00 target price on shares of Universal Display in a report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Universal Display in a research report on Wednesday, October 8th. Finally, Zacks Research cut Universal Display from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Universal Display currently has an average rating of “Moderate Buy” and a consensus target price of $181.33.

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.