Hardman Johnston Global Advisors LLC Sells 50,054 Shares of Universal Display Corporation $OLED

Hardman Johnston Global Advisors LLC trimmed its stake in Universal Display Corporation (NASDAQ:OLED) by 19.1% during the third quarter, HoldingsChannel.com reports. The fund owned 212,103 shares of the semiconductor company’s stock after selling 50,054 shares during the quarter. Universal Display accounts for about 1.5% of Hardman Johnston Global Advisors LLC’s holdings, making the stock its 21st largest position. Hardman Johnston Global Advisors LLC’s holdings in Universal Display were worth $30,464,000 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 the stock. Whittier Trust Co. acquired a new stake in shares of Universal Display in the 2nd quarter valued at $30,000. Parkside Financial Bank & Trust lifted its holdings in Universal Display by 236.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 202 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 142 shares during the last quarter. Atlantic Union Bankshares Corp bought a new position in Universal Display during the 2nd quarter valued at about $39,000. Farther Finance Advisors LLC boosted 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 valued at $43,000 after buying an additional 122 shares in the last quarter. Finally, Rise Advisors LLC grew its stake in Universal Display by 53.3% during the third quarter. Rise Advisors LLC now owns 299 shares of the semiconductor company’s stock worth $43,000 after buying an additional 104 shares during the last quarter. 78.19% of the stock is owned by institutional investors.

Universal Display Price Performance

OLED stock opened at $125.77 on Monday. The company has a 50 day moving average price of $120.78 and a 200 day moving average price of $137.10. Universal Display Corporation has a fifty-two week low of $103.70 and a fifty-two week high of $164.29. The stock has a market capitalization of $5.98 billion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 3.53 and a beta of 1.62.

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

Universal Display Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Wednesday, December 17th. Universal Display’s payout ratio is currently 38.79%.

Analyst Ratings Changes

A number of research firms have recently issued reports on OLED. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 target price on shares of Universal Display in a research note on Monday, December 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a research report on Wednesday, December 24th. Zacks Research lowered Universal Display from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Finally, Wall Street Zen lowered Universal Display from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $177.60.

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.