DAVENPORT & Co LLC Purchases 10,496 Shares of Universal Display Corporation $OLED

DAVENPORT & Co LLC boosted its position in Universal Display Corporation (NASDAQ:OLED) by 371.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 13,320 shares of the semiconductor company’s stock after purchasing an additional 10,496 shares during the period. DAVENPORT & Co LLC’s holdings in Universal Display were worth $1,913,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Rise Advisors LLC lifted its stake in shares of Universal Display by 87.9% in the 1st quarter. Rise Advisors LLC now owns 186 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 87 shares during the period. Whittier Trust Co. bought a new stake in Universal Display during the second quarter valued at approximately $30,000. Parkside Financial Bank & Trust increased its holdings in Universal Display by 236.7% during the second quarter. Parkside Financial Bank & Trust now owns 202 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 142 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Universal Display during the second quarter valued at approximately $39,000. Finally, Farther Finance Advisors LLC raised its position in Universal Display by 79.2% in the second quarter. Farther Finance Advisors LLC now owns 276 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 122 shares during the period. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Analyst Upgrades and Downgrades

OLED has been the topic of several analyst reports. Zacks Research downgraded Universal Display from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Universal Display in a research note on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 price objective on shares of Universal Display in a research report on Monday, December 22nd. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Universal Display presently has an average rating of “Moderate Buy” and an average target price of $181.33.

Universal Display Stock Performance

Shares of OLED stock opened at $119.60 on Friday. The stock has a fifty day simple moving average of $126.14 and a two-hundred day simple moving average of $139.54. Universal Display Corporation has a 52-week low of $103.70 and a 52-week high of $164.29. The firm has a market capitalization of $5.69 billion, a PE ratio of 25.78, a PEG ratio of 3.67 and a beta of 1.62.

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

Universal Display Dividend Announcement

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

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.