Universal Display Co. (NASDAQ:OLED) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its position in Universal Display Co. (NASDAQ:OLED) by 27.5% during the second quarter, HoldingsChannel.com reports. The fund owned 138,410 shares of the semiconductor company’s stock after selling 52,619 shares during the period. Thrivent Financial for Lutherans’ holdings in Universal Display were worth $29,101,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC acquired a new stake in shares of Universal Display in the first quarter worth approximately $27,000. Principal Securities Inc. acquired a new position in Universal Display during the fourth quarter worth $34,000. University of Texas Texas AM Investment Managment Co. acquired a new position in Universal Display during the fourth quarter worth $35,000. Cape Investment Advisory Inc. boosted its stake in Universal Display by 1,977.8% during the fourth quarter. Cape Investment Advisory Inc. now owns 187 shares of the semiconductor company’s stock worth $36,000 after buying an additional 178 shares during the last quarter. Finally, Tsfg LLC acquired a new position in Universal Display during the first quarter worth $34,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Trading Up 0.7 %

OLED stock opened at $212.93 on Tuesday. The company has a market capitalization of $10.10 billion, a PE ratio of 46.29, a P/E/G ratio of 2.17 and a beta of 1.41. Universal Display Co. has a 12-month low of $133.67 and a 12-month high of $237.00. The business’s fifty day moving average price is $198.26 and its 200 day moving average price is $186.12.

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

Universal Display Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors 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 dividend yield of 0.75%. Universal Display’s dividend payout ratio is presently 34.78%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. The Goldman Sachs Group boosted their price objective on Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Roth Mkm boosted their price objective on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Susquehanna boosted their price objective on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Oppenheimer upped their price target on Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, July 3rd. Finally, Needham & Company LLC upped their price target on Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently 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.