SG Americas Securities LLC Has $899,000 Position in Universal Display Corporation $OLED

SG Americas Securities LLC decreased its holdings in Universal Display Corporation (NASDAQ:OLED) by 42.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,811 shares of the semiconductor company’s stock after selling 7,202 shares during the quarter. SG Americas Securities LLC’s holdings in Universal Display were worth $899,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Focus Partners Wealth increased its stake in Universal Display by 6.4% in the first quarter. Focus Partners Wealth now owns 3,680 shares of the semiconductor company’s stock valued at $513,000 after acquiring an additional 221 shares during the period. American Century Companies Inc. boosted its holdings in Universal Display by 2.3% during the second quarter. American Century Companies Inc. now owns 12,766 shares of the semiconductor company’s stock valued at $1,972,000 after purchasing an additional 285 shares in the last quarter. Invesco Ltd. boosted its holdings in Universal Display by 1.8% during the second quarter. Invesco Ltd. now owns 112,982 shares of the semiconductor company’s stock valued at $17,451,000 after purchasing an additional 2,040 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Universal Display in the 2nd quarter valued at approximately $2,220,000. Finally, Cresset Asset Management LLC grew its stake in shares of Universal Display by 64.2% in the 2nd quarter. Cresset Asset Management LLC now owns 2,512 shares of the semiconductor company’s stock valued at $388,000 after purchasing an additional 982 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Stock Performance

NASDAQ OLED opened at $78.70 on Monday. Universal Display Corporation has a 1-year low of $77.15 and a 1-year high of $162.36. The company has a 50 day moving average of $90.31 and a 200-day moving average of $102.56. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 17.57 and a beta of 1.54.

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

Universal Display Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. Universal Display’s payout ratio is currently 44.64%.

Wall Street Analyst Weigh In

OLED has been the subject of several analyst reports. Citigroup cut their target price on Universal Display from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. The Goldman Sachs Group set a $135.00 price target on Universal Display in a research report on Tuesday, April 21st. Zacks Research lowered Universal Display from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Roth Mkm set a $168.00 price objective on Universal Display in a report on Friday, May 1st. Finally, Oppenheimer reduced their target price on shares of Universal Display from $160.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $130.60.

About Universal Display

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.