Erste Asset Management GmbH Cuts Holdings in Universal Display Corporation $OLED

Erste Asset Management GmbH reduced its stake in Universal Display Corporation (NASDAQ:OLED) by 36.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,256 shares of the semiconductor company’s stock after selling 8,727 shares during the period. Erste Asset Management GmbH’s holdings in Universal Display were worth $1,819,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC increased its holdings in Universal Display by 61.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 2,281 shares of the semiconductor company’s stock valued at $266,000 after purchasing an additional 869 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Universal Display by 86.4% in the 4th quarter. JPMorgan Chase & Co. now owns 880,678 shares of the semiconductor company’s stock valued at $102,846,000 after purchasing an additional 408,315 shares in the last quarter. Prudential PLC increased its holdings in Universal Display by 84.5% in the 4th quarter. Prudential PLC now owns 5,997 shares of the semiconductor company’s stock valued at $700,000 after purchasing an additional 2,746 shares in the last quarter. Vise Technologies Inc. increased its holdings in Universal Display by 5.3% in the 4th quarter. Vise Technologies Inc. now owns 2,770 shares of the semiconductor company’s stock valued at $324,000 after purchasing an additional 140 shares in the last quarter. Finally, State of Wyoming acquired a new stake in Universal Display in the 4th quarter valued at $175,000. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

OLED has been the subject of several recent research reports. Wall Street Zen upgraded Universal Display from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Citigroup lowered their price target on Universal Display from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Oppenheimer lowered their price target on Universal Display from $160.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a report on Monday, March 23rd. Finally, Needham & Company LLC lowered their target price on Universal Display from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $130.60.

Universal Display Price Performance

Shares of Universal Display stock opened at $89.32 on Wednesday. The business has a 50-day moving average of $93.17 and a 200-day moving average of $106.58. The company has a market capitalization of $4.18 billion, a PE ratio of 19.94 and a beta of 1.54. Universal Display Corporation has a 1-year low of $83.64 and a 1-year high of $163.21.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.37). The business had revenue of $142.21 million for the quarter, compared to analyst estimates of $161.23 million. Universal Display had a net margin of 34.08% and a return on equity of 12.34%. The firm’s revenue was down 14.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.35 earnings per share. On average, equities analysts expect that Universal Display Corporation will post 4.23 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. Universal Display’s dividend payout ratio (DPR) is currently 44.64%.

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.