Rhumbline Advisers Reduces Holdings in Universal Display Corporation $OLED

Rhumbline Advisers reduced its stake in shares of Universal Display Corporation (NASDAQ:OLED) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,901 shares of the semiconductor company’s stock after selling 3,406 shares during the period. Rhumbline Advisers’ holdings in Universal Display were worth $27,633,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Strs Ohio purchased a new stake in shares of Universal Display in the first quarter valued at $819,000. Intech Investment Management LLC raised its stake in Universal Display by 174.3% in the 1st quarter. Intech Investment Management LLC now owns 94,803 shares of the semiconductor company’s stock valued at $13,223,000 after purchasing an additional 60,238 shares during the last quarter. Creative Planning lifted its holdings in Universal Display by 12.7% in the 2nd quarter. Creative Planning now owns 19,847 shares of the semiconductor company’s stock valued at $3,066,000 after purchasing an additional 2,239 shares in the last quarter. Truist Financial Corp lifted its holdings in Universal Display by 0.5% in the 2nd quarter. Truist Financial Corp now owns 40,882 shares of the semiconductor company’s stock valued at $6,315,000 after purchasing an additional 190 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of Universal Display by 19.4% during the 1st quarter. HighTower Advisors LLC now owns 6,833 shares of the semiconductor company’s stock worth $953,000 after purchasing an additional 1,108 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Price Performance

Shares of OLED stock opened at $118.21 on Thursday. The firm’s 50-day simple moving average is $137.20 and its 200-day simple moving average is $144.23. Universal Display Corporation has a 1-year low of $103.70 and a 1-year high of $167.45. The firm has a market cap of $5.62 billion, a P/E ratio of 23.09, a PEG ratio of 4.38 and a beta of 1.60.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.27). Universal Display had a net margin of 36.95% and a return on equity of 15.82%. The company had revenue of $139.61 million during the quarter, compared to analysts’ expectations of $165.56 million. During the same quarter in the previous year, the firm posted $1.40 earnings per share. Universal Display’s revenue for the quarter was down 13.6% compared to the same quarter last year. Universal Display has set its FY 2025 guidance at EPS. Analysts expect that Universal Display Corporation will post 4.71 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders 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 dividend yield of 1.5%. The ex-dividend date is Wednesday, December 17th. Universal Display’s dividend payout ratio is presently 38.79%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Zacks Research lowered shares of Universal Display from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Needham & Company LLC decreased their target price on shares of Universal Display from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Universal Display in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $181.33.

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.