Universal Display Corporation $OLED Shares Sold by AI Squared Management Ltd

AI Squared Management Ltd reduced its holdings in Universal Display Corporation (NASDAQ:OLED) by 57.6% during the 4th quarter, Holdings Channel reports. The fund owned 16,281 shares of the semiconductor company’s stock after selling 22,119 shares during the quarter. Universal Display comprises 2.2% of AI Squared Management Ltd’s portfolio, making the stock its 15th largest holding. AI Squared Management Ltd’s holdings in Universal Display were worth $1,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Swiss National Bank increased its position in Universal Display by 1.8% in the 4th quarter. Swiss National Bank now owns 89,100 shares of the semiconductor company’s stock valued at $10,405,000 after acquiring an additional 1,600 shares during the period. Aviva PLC increased its position in Universal Display by 24.0% in the 4th quarter. Aviva PLC now owns 4,198 shares of the semiconductor company’s stock valued at $490,000 after acquiring an additional 813 shares during the period. UniSuper Management Pty Ltd increased its position in Universal Display by 27.8% in the 4th quarter. UniSuper Management Pty Ltd now owns 63,819 shares of the semiconductor company’s stock valued at $7,453,000 after acquiring an additional 13,889 shares during the period. Picton Mahoney Asset Management acquired a new stake in Universal Display in the 4th quarter valued at approximately $913,000. Finally, Empowered Funds LLC acquired a new stake in Universal Display in the 4th quarter valued at approximately $1,403,000. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. The Goldman Sachs Group set a $135.00 target price on Universal Display in a research report on Tuesday, April 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a research report on Monday, March 23rd. 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 Mkm set a $168.00 price target on Universal Display in a research report on Friday, May 1st. Finally, Zacks Research cut Universal Display from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $130.60.

Universal Display Stock Up 2.6%

OLED opened at $89.88 on Friday. The firm has a market cap of $4.20 billion, a PE ratio of 20.06 and a beta of 1.54. The business has a fifty day simple moving average of $93.10 and a 200-day simple moving average of $106.26. Universal Display Corporation has a fifty-two week low of $83.64 and a fifty-two week high of $162.36.

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 the consensus estimate of $1.13 by ($0.37). The company had revenue of $142.21 million for the quarter, compared to the consensus estimate of $161.23 million. Universal Display had a return on equity of 12.34% and a net margin of 34.08%.The business’s revenue was down 14.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.35 earnings per share. On average, equities research analysts anticipate that Universal Display Corporation will post 4.23 EPS for the current fiscal year.

Universal Display Announces Dividend

The business also recently disclosed 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 of this dividend 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%.

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.