DAVENPORT & Co LLC Has $2.47 Million Stock Holdings in Universal Display Corporation $OLED

DAVENPORT & Co LLC grew its stake in shares of Universal Display Corporation (NASDAQ:OLED) by 58.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,169 shares of the semiconductor company’s stock after purchasing an additional 7,849 shares during the period. DAVENPORT & Co LLC’s holdings in Universal Display were worth $2,472,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Focus Partners Wealth lifted its stake in Universal Display by 6.4% during the first quarter. Focus Partners Wealth now owns 3,680 shares of the semiconductor company’s stock valued at $513,000 after buying an additional 221 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Universal Display by 15.3% in the second quarter. Cetera Investment Advisers now owns 11,153 shares of the semiconductor company’s stock worth $1,723,000 after buying an additional 1,480 shares during the period. American Century Companies Inc. increased its position in shares of Universal Display by 2.3% in the second quarter. American Century Companies Inc. now owns 12,766 shares of the semiconductor company’s stock worth $1,972,000 after acquiring an additional 285 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Universal Display by 27.6% during the second quarter. Prudential Financial Inc. now owns 4,467 shares of the semiconductor company’s stock valued at $721,000 after acquiring an additional 966 shares during the period. Finally, CreativeOne Wealth LLC acquired a new stake in shares of Universal Display during the second quarter valued at approximately $469,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Price Performance

NASDAQ OLED opened at $91.87 on Friday. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 7.21 and a beta of 1.65. The company has a 50 day simple moving average of $109.09 and a 200-day simple moving average of $122.96. Universal Display Corporation has a 52-week low of $91.32 and a 52-week high of $163.21.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, February 19th. The semiconductor company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.11. The firm had revenue of $172.93 million for the quarter, compared to the consensus estimate of $173.35 million. Universal Display had a net margin of 37.21% and a return on equity of 14.07%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 earnings per share. On average, analysts predict that Universal Display Corporation will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.50 per share. This is an increase from Universal Display’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. Universal Display’s dividend payout ratio (DPR) is 39.45%.

Analysts Set New Price Targets

A number of research firms recently commented on OLED. Citigroup decreased their price objective on shares of Universal Display from $150.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, January 27th. Weiss Ratings reissued a “hold (c-)” rating on shares of Universal Display in a research note on Monday, March 23rd. Wall Street Zen upgraded Universal Display from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Roth Mkm reaffirmed a “buy” rating and issued a $180.00 target price on shares of Universal Display in a research report on Friday, February 20th. Finally, Needham & Company LLC lowered their price target on Universal Display from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $151.67.

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.