Fifth Third Bancorp Purchases 16,782 Shares of Universal Display Corporation $OLED

Fifth Third Bancorp lifted its holdings in shares of Universal Display Corporation (NASDAQ:OLED) by 4,850.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,128 shares of the semiconductor company’s stock after acquiring an additional 16,782 shares during the quarter. Fifth Third Bancorp’s holdings in Universal Display were worth $1,570,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Focus Partners Wealth grew its position 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 during the period. American Century Companies Inc. increased its stake 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 purchasing an additional 285 shares in the last quarter. Invesco Ltd. grew its stake in Universal Display by 1.8% in the 2nd quarter. Invesco Ltd. now owns 112,982 shares of the semiconductor company’s stock valued at $17,451,000 after buying an additional 2,040 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Universal Display in the second quarter valued at $2,220,000. Finally, Cresset Asset Management LLC increased its position in shares of Universal Display by 64.2% during the second quarter. Cresset Asset Management LLC now owns 2,512 shares of the semiconductor company’s stock valued at $388,000 after buying an additional 982 shares during the period. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on OLED shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Universal Display in a report on Thursday, June 18th. Citigroup lowered their price target on Universal Display from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Roth Capital set a $168.00 price target on Universal Display in a research note on Friday, May 1st. Oppenheimer cut their price objective on Universal Display from $160.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Finally, The Goldman Sachs Group set a $135.00 price objective on Universal Display in a research report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $130.60.

Universal Display Price Performance

Shares of Universal Display stock opened at $79.42 on Friday. The business’s 50 day simple moving average is $86.69 and its two-hundred day simple moving average is $98.81. The stock has a market capitalization of $3.71 billion, a P/E ratio of 17.73 and a beta of 1.54. Universal Display Corporation has a one year low of $77.15 and a one year high of $153.38.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.37). The company had revenue of $142.21 million for the quarter, compared to analysts’ expectations of $161.23 million. Universal Display had a net margin of 34.08% and a return on equity of 12.34%. The business’s revenue for the quarter was down 14.5% compared to the same quarter last year. During the same period last year, the company posted $1.35 EPS. Sell-side analysts expect that Universal Display Corporation will post 4.23 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Tuesday, June 16th. Universal Display’s dividend payout ratio is currently 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.