Universal Display Corporation $OLED Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC decreased its holdings in shares of Universal Display Corporation (NASDAQ:OLED) by 3.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 863,379 shares of the semiconductor company’s stock after selling 31,181 shares during the period. Geode Capital Management LLC’s holdings in Universal Display were worth $133,378,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of OLED. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Universal Display by 73.8% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,407,846 shares of the semiconductor company’s stock valued at $614,806,000 after buying an additional 1,871,333 shares in the last quarter. FengHe Fund Management Pte. Ltd. purchased a new position in Universal Display in the first quarter worth $41,147,000. Tredje AP fonden acquired a new stake in Universal Display in the second quarter valued at $30,519,000. Raymond James Financial Inc. boosted its position in shares of Universal Display by 64.4% during the 1st quarter. Raymond James Financial Inc. now owns 466,612 shares of the semiconductor company’s stock worth $65,083,000 after purchasing an additional 182,730 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Universal Display during the 1st quarter worth $14,051,000. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Trading Down 0.8%

NASDAQ:OLED opened at $110.78 on Thursday. The company has a market capitalization of $5.27 billion, a P/E ratio of 21.64, a price-to-earnings-growth ratio of 4.38 and a beta of 1.60. The firm has a 50-day moving average price of $139.40 and a two-hundred day moving average price of $145.21. Universal Display Corporation has a twelve month low of $103.70 and a twelve month high of $173.45.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.27). The business had revenue of $139.61 million during the quarter, compared to analysts’ expectations of $165.56 million. Universal Display had a net margin of 36.95% and a return on equity of 15.82%. The firm’s revenue for the quarter was down 13.6% on a year-over-year basis. During the same period last year, the company earned $1.40 EPS. Universal Display has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Universal Display Corporation will post 4.71 earnings per share for the current year.

Universal Display Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Wednesday, December 17th. Universal Display’s dividend payout ratio is 38.79%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Universal Display in a report on Wednesday, October 8th. Needham & Company LLC reduced their price target on shares of Universal Display from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Finally, Zacks Research raised Universal Display from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $181.33.

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.