Hsbc Holdings PLC Raises Holdings in Universal Display Corporation $OLED

Hsbc Holdings PLC raised its holdings in Universal Display Corporation (NASDAQ:OLED) by 890.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,091 shares of the semiconductor company’s stock after purchasing an additional 34,247 shares during the quarter. Hsbc Holdings PLC owned 0.08% of Universal Display worth $4,489,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. State Street Corp grew its holdings in shares of Universal Display by 4.3% during the 4th quarter. State Street Corp now owns 1,694,779 shares of the semiconductor company’s stock worth $197,916,000 after purchasing an additional 69,163 shares during the period. Geode Capital Management LLC raised its holdings in Universal Display by 25.0% in the 4th quarter. Geode Capital Management LLC now owns 1,109,077 shares of the semiconductor company’s stock valued at $129,537,000 after buying an additional 222,108 shares during the period. JPMorgan Chase & Co. lifted its position in Universal Display by 86.4% in the fourth quarter. JPMorgan Chase & Co. now owns 880,678 shares of the semiconductor company’s stock valued at $102,846,000 after buying an additional 408,315 shares during the last quarter. First Trust Advisors LP lifted its position in Universal Display by 17.4% in the fourth quarter. First Trust Advisors LP now owns 806,454 shares of the semiconductor company’s stock valued at $94,178,000 after buying an additional 119,504 shares during the last quarter. Finally, Norges Bank purchased a new position in Universal Display during the fourth quarter worth about $92,756,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

Wall Street Analysts Forecast Growth

OLED has been the topic of a number of research analyst reports. Roth Mkm set a $168.00 price target on shares of Universal Display in a research note on Friday, May 1st. Oppenheimer lowered their price objective on shares of Universal Display from $160.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. Zacks Research downgraded shares of Universal Display from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Needham & Company LLC cut their target price on Universal Display from $145.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Universal Display in a research note on Thursday, June 18th. Three 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. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $130.60.

Universal Display Price Performance

NASDAQ OLED opened at $87.16 on Friday. The company has a market cap of $4.07 billion, a P/E ratio of 19.46 and a beta of 1.54. The stock has a 50-day moving average of $91.98 and a two-hundred day moving average of $104.01. Universal Display Corporation has a 1-year low of $83.64 and a 1-year high of $162.36.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.37). Universal Display had a return on equity of 12.34% and a net margin of 34.08%.The business had revenue of $142.21 million for the quarter, compared to analyst estimates of $161.23 million. During the same period in the prior year, the company posted $1.35 EPS. The firm’s revenue for the quarter was down 14.5% compared to the same quarter last year. On average, analysts anticipate that Universal Display Corporation will post 4.23 EPS 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. Shareholders of record on Tuesday, June 16th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. Universal Display’s dividend payout ratio is 44.64%.

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.