Hsbc Holdings PLC Has $2.42 Million Holdings in Universal Display Corporation $OLED

Hsbc Holdings PLC decreased its holdings in shares of Universal Display Corporation (NASDAQ:OLED) by 29.8% in the 1st quarter, Holdings Channel reports. The fund owned 26,754 shares of the semiconductor company’s stock after selling 11,337 shares during the period. Hsbc Holdings PLC’s holdings in Universal Display were worth $2,425,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC acquired a new position in Universal Display during the 3rd quarter worth approximately $33,000. RHL Group LLC acquired a new stake in shares of Universal Display during the 4th quarter valued at $60,000. Canada Pension Plan Investment Board bought a new stake in Universal Display during the 2nd quarter worth $62,000. UMB Bank n.a. increased its holdings in Universal Display by 28.3% in the 4th quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company’s stock worth $64,000 after purchasing an additional 121 shares in the last quarter. Finally, Global X Japan Co. Ltd. increased its holdings in Universal Display by 61.6% in the 4th quarter. Global X Japan Co. Ltd. now owns 580 shares of the semiconductor company’s stock worth $68,000 after purchasing an additional 221 shares in the last quarter. 78.19% of the stock is owned by institutional investors.

Universal Display Price Performance

Shares of NASDAQ OLED opened at $79.27 on Friday. The company has a 50-day moving average price of $86.42 and a 200-day moving average price of $98.67. The stock has a market capitalization of $3.71 billion, a P/E ratio of 17.69 and a beta of 1.54. Universal Display Corporation has a 1 year low of $77.15 and a 1 year high of $153.38.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.37). The business had revenue of $142.21 million during the quarter, compared to the consensus estimate of $161.23 million. Universal Display had a net margin of 34.08% and a return on equity of 12.34%. Universal Display’s revenue was down 14.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.35 EPS. As a group, equities research analysts anticipate that Universal Display Corporation will post 4.23 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, June 16th. Universal Display’s payout ratio is currently 44.64%.

Analyst Ratings Changes

Several analysts have recently weighed in on OLED shares. Zacks Research cut Universal Display from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a research report on Thursday, June 18th. Roth Capital set a $168.00 target price on shares of Universal Display in a report on Friday, May 1st. The Goldman Sachs Group set a $135.00 price target on shares of Universal Display in a research note on Tuesday, April 21st. Finally, Needham & Company LLC reduced their price objective on shares of Universal Display from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $130.60.

About Universal Display

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.