Victory Capital Management Inc. Cuts Position in Universal Display Co. (NASDAQ:OLED)

Victory Capital Management Inc. decreased its position in Universal Display Co. (NASDAQ:OLED) by 55.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,101 shares of the semiconductor company’s stock after selling 11,528 shares during the quarter. Victory Capital Management Inc.’s holdings in Universal Display were worth $1,913,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of OLED. Peapack Gladstone Financial Corp grew its position in shares of Universal Display by 1.8% during the fourth quarter. Peapack Gladstone Financial Corp now owns 3,367 shares of the semiconductor company’s stock worth $643,000 after buying an additional 60 shares in the last quarter. Red Spruce Capital LLC lifted its stake in Universal Display by 0.7% in the second quarter. Red Spruce Capital LLC now owns 11,146 shares of the semiconductor company’s stock valued at $2,343,000 after buying an additional 76 shares during the last quarter. 1492 Capital Management LLC lifted its stake in Universal Display by 0.8% in the fourth quarter. 1492 Capital Management LLC now owns 9,543 shares of the semiconductor company’s stock valued at $1,825,000 after buying an additional 79 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Universal Display by 7.6% during the second quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company’s stock valued at $284,000 after purchasing an additional 96 shares in the last quarter. Finally, Bahl & Gaynor Inc. raised its stake in shares of Universal Display by 0.5% during the first quarter. Bahl & Gaynor Inc. now owns 18,645 shares of the semiconductor company’s stock valued at $3,141,000 after purchasing an additional 101 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Stock Down 0.1 %

Shares of Universal Display stock opened at $204.39 on Thursday. The stock has a market capitalization of $9.70 billion, a P/E ratio of 44.43, a PEG ratio of 2.17 and a beta of 1.41. The stock has a 50 day moving average price of $199.45 and a two-hundred day moving average price of $185.03. Universal Display Co. has a 12-month low of $133.67 and a 12-month high of $237.00.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.04). The business had revenue of $158.50 million during the quarter, compared to the consensus estimate of $159.46 million. Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.04 earnings per share. Sell-side analysts anticipate that Universal Display Co. will post 4.81 earnings per share for the current year.

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, September 16th. This represents a $1.60 annualized dividend and a yield of 0.78%. Universal Display’s dividend payout ratio is currently 34.78%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Roth Mkm lifted their target price on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Susquehanna lifted their target price on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Oppenheimer lifted their target price on Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, July 3rd. The Goldman Sachs Group lifted their price target on Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Needham & Company LLC lifted their price target on Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $225.88.

About Universal Display

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.