Truist Financial Corp Sells 585 Shares of Universal Display Co. (NASDAQ:OLED)

Truist Financial Corp lowered its stake in shares of Universal Display Co. (NASDAQ:OLED) by 22.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,969 shares of the semiconductor company’s stock after selling 585 shares during the quarter. Truist Financial Corp’s holdings in Universal Display were worth $414,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. ORG Partners LLC bought a new position in shares of Universal Display in the 1st quarter valued at about $27,000. Tsfg LLC bought a new position in shares of Universal Display in the 1st quarter valued at about $34,000. Geneos Wealth Management Inc. boosted its stake in shares of Universal Display by 210.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 233 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 158 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Universal Display in the 2nd quarter valued at about $44,000. Finally, Tortoise Investment Management LLC bought a new position in shares of Universal Display in the 2nd quarter valued at about $47,000. Institutional investors own 78.19% of the company’s stock.

Analyst Ratings Changes

OLED has been the topic of a number of analyst reports. Susquehanna increased their price target on shares of Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. TD Cowen increased their price target on shares of Universal Display from $210.00 to $250.00 and gave the company a “buy” rating in a research report 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 company a “buy” rating in a research report on Thursday, July 18th. Oppenheimer increased their price target on shares of Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, July 3rd. Finally, Needham & Company LLC raised their target price on shares of Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Universal Display presently has an average rating of “Moderate Buy” and an average target price of $225.88.

Universal Display Stock Up 1.5 %

NASDAQ OLED opened at $204.99 on Friday. Universal Display Co. has a 12-month low of $133.67 and a 12-month high of $237.00. The company has a market capitalization of $9.73 billion, a PE ratio of 43.99, a price-to-earnings-growth ratio of 2.20 and a beta of 1.42. The firm’s 50 day moving average is $197.99 and its 200-day moving average is $191.16.

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 analysts’ consensus estimates of $1.14 by ($0.04). Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The business had revenue of $158.50 million during the quarter, compared to analyst estimates of $159.46 million. During the same quarter last year, the business earned $1.04 earnings per share. Universal Display’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, sell-side analysts expect that Universal Display Co. will post 4.81 EPS for the current year.

Universal Display Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a yield of 0.78%. Universal Display’s payout ratio is 34.33%.

Universal Display Company Profile

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.