Epoch Investment Partners Inc. Reduces Stake in Universal Display Corporation $OLED

Epoch Investment Partners Inc. lessened its position in shares of Universal Display Corporation (NASDAQ:OLED) by 67.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,046 shares of the semiconductor company’s stock after selling 20,904 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Universal Display were worth $1,173,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Focus Partners Wealth boosted 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 worth $513,000 after acquiring an additional 221 shares during the last quarter. American Century Companies Inc. boosted its holdings in Universal Display by 2.3% in the 2nd quarter. American Century Companies Inc. now owns 12,766 shares of the semiconductor company’s stock worth $1,972,000 after acquiring an additional 285 shares during the period. Invesco Ltd. grew its holdings in Universal Display by 1.8% during the 2nd 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 acquired a new stake in shares of Universal Display during the second quarter valued at about $2,220,000. Finally, Cresset Asset Management LLC grew its stake in Universal Display by 64.2% during 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 in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Universal Display in a report on Monday, March 23rd. Citigroup dropped their price objective on shares of Universal Display from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Zacks Research downgraded Universal Display from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Needham & Company LLC reduced their price target on shares of Universal Display from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Finally, The Goldman Sachs Group set a $135.00 target price on Universal Display in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Universal Display has a consensus rating of “Hold” and an average target price of $130.60.

Universal Display Trading Up 1.7%

Universal Display stock opened at $92.97 on Tuesday. Universal Display Corporation has a 1-year low of $83.64 and a 1-year high of $162.36. The firm’s fifty day simple moving average is $93.20 and its 200-day simple moving average is $105.93. The company has a market capitalization of $4.35 billion, a P/E ratio of 20.75 and a beta of 1.54.

Universal Display (NASDAQ:OLED) last announced its quarterly 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). Universal Display had a net margin of 34.08% and a return on equity of 12.34%. The company had revenue of $142.21 million for the quarter, compared to analyst estimates of $161.23 million. During the same quarter last year, the business earned $1.35 EPS. The company’s revenue for the quarter was down 14.5% on a year-over-year basis. On average, equities research analysts predict that Universal Display Corporation will post 4.23 earnings per share for the current year.

Universal Display Dividend Announcement

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 given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, June 16th. Universal Display’s payout ratio is 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.