Griffin Asset Management Inc. Has $18.87 Million Holdings in Universal Display Corporation $OLED

Griffin Asset Management Inc. cut its holdings in Universal Display Corporation (NASDAQ:OLED) by 5.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 205,877 shares of the semiconductor company’s stock after selling 12,408 shares during the quarter. Universal Display makes up about 2.1% of Griffin Asset Management Inc.’s investment portfolio, making the stock its 6th largest position. Griffin Asset Management Inc. owned approximately 0.44% of Universal Display worth $18,871,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Focus Partners Wealth raised its holdings in shares of Universal Display by 6.4% in the 1st quarter. Focus Partners Wealth now owns 3,680 shares of the semiconductor company’s stock valued at $513,000 after purchasing an additional 221 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of 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. increased 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 buying an additional 2,040 shares during the period. Marshall Wace LLP purchased a new position in Universal Display during the second quarter valued at approximately $2,220,000. Finally, Cresset Asset Management LLC raised its stake in Universal Display by 64.2% in the second quarter. Cresset Asset Management LLC now owns 2,512 shares of the semiconductor company’s stock worth $388,000 after buying an additional 982 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OLED has been the subject of a number of analyst reports. Citigroup lowered their target price on Universal Display from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Oppenheimer cut their price target on Universal Display from $160.00 to $130.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Needham & Company LLC reduced their price target on Universal Display from $145.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Roth Capital set a $168.00 price objective on Universal Display in a research note on Friday, May 1st. Finally, Zacks Research downgraded Universal Display from a “hold” rating to a “strong sell” rating in a research report 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, the stock presently has an average rating of “Hold” and an average price target of $130.60.

Universal Display Stock Performance

Universal Display stock opened at $80.15 on Friday. The business’s 50-day simple moving average is $89.05 and its two-hundred day simple moving average is $101.53. The company has a market cap of $3.75 billion, a PE ratio of 17.89 and a beta of 1.54. Universal Display Corporation has a fifty-two week low of $77.15 and a fifty-two week high of $159.27.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data 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 firm had revenue of $142.21 million during the quarter, compared to analysts’ expectations of $161.23 million. During the same quarter in the previous year, the business earned $1.35 earnings per share. The company’s revenue for the quarter was down 14.5% compared to the same quarter last year. As a group, analysts predict that Universal Display Corporation will post 4.23 EPS for the current fiscal year.

Universal Display Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a dividend of $0.50 per share. 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 dividend payout ratio (DPR) 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.