Federated Hermes Inc. Sells 148 Shares of Universal Display Co. (NASDAQ:OLED)

Federated Hermes Inc. lowered its stake in Universal Display Co. (NASDAQ:OLED) by 3.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,484 shares of the semiconductor company’s stock after selling 148 shares during the quarter. Federated Hermes Inc.’s holdings in Universal Display were worth $943,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Universal Display during the fourth quarter valued at about $101,088,000. Janus Henderson Group PLC raised its position in Universal Display by 66.6% during the 1st quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock valued at $73,099,000 after purchasing an additional 173,496 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in Universal Display in the 2nd quarter worth approximately $23,500,000. Van ECK Associates Corp grew its position in shares of Universal Display by 33.5% in the 1st quarter. Van ECK Associates Corp now owns 360,714 shares of the semiconductor company’s stock worth $60,762,000 after buying an additional 90,530 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Universal Display by 20.7% in the 4th quarter. First Trust Advisors LP now owns 449,628 shares of the semiconductor company’s stock worth $85,996,000 after buying an additional 76,967 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Stock Performance

OLED stock opened at $211.44 on Friday. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of 45.97, a PEG ratio of 2.17 and a beta of 1.41. The firm has a 50 day moving average price of $198.60 and a 200-day moving average price of $185.72. Universal Display Co. has a 52-week low of $133.67 and a 52-week high of $237.00.

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

Universal Display Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 annualized dividend and a yield of 0.76%. Universal Display’s dividend payout ratio (DPR) is presently 34.78%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Susquehanna raised their price target on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. TD Cowen lifted their target price on shares of Universal Display from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. The Goldman Sachs Group increased their price target on shares of Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Needham & Company LLC lifted their price objective on Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Finally, Roth Mkm upped 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. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.