Universal Display Co. (NASDAQ:OLED) Holdings Reduced by Hardman Johnston Global Advisors LLC

Hardman Johnston Global Advisors LLC lowered its position in Universal Display Co. (NASDAQ:OLED) by 22.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 235,397 shares of the semiconductor company’s stock after selling 66,525 shares during the quarter. Universal Display comprises approximately 1.9% of Hardman Johnston Global Advisors LLC’s investment portfolio, making the stock its 17th biggest holding. Hardman Johnston Global Advisors LLC’s holdings in Universal Display were worth $49,410,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in OLED. QRG Capital Management Inc. increased its position in Universal Display by 26.4% in the 3rd quarter. QRG Capital Management Inc. now owns 1,509 shares of the semiconductor company’s stock valued at $317,000 after acquiring an additional 315 shares during the period. Van ECK Associates Corp grew its stake in shares of Universal Display by 27.2% in the third quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company’s stock worth $101,914,000 after purchasing an additional 108,394 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Universal Display by 625.9% during the third quarter. Janney Montgomery Scott LLC now owns 40,989 shares of the semiconductor company’s stock valued at $8,604,000 after purchasing an additional 35,342 shares during the period. Stephens Inc. AR bought a new stake in shares of Universal Display during the third quarter valued at about $249,000. Finally, US Bancorp DE lifted its holdings in Universal Display by 43.9% in the third quarter. US Bancorp DE now owns 5,037 shares of the semiconductor company’s stock worth $1,057,000 after purchasing an additional 1,536 shares during the period. Institutional investors own 78.19% of the company’s stock.

Universal Display Stock Up 0.6 %

OLED opened at $180.80 on Wednesday. The firm has a market cap of $8.58 billion, a PE ratio of 36.31, a P/E/G ratio of 1.93 and a beta of 1.43. The business has a fifty day simple moving average of $200.94 and a 200-day simple moving average of $194.93. Universal Display Co. has a fifty-two week low of $144.85 and a fifty-two week high of $237.00.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.21. The business had revenue of $161.63 million during the quarter, compared to analyst estimates of $165.28 million. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. Universal Display’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter last year, the company posted $1.08 EPS. On average, equities research analysts anticipate that Universal Display Co. will post 4.79 EPS for the current fiscal year.

Universal Display Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, December 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.88%. Universal Display’s dividend payout ratio is currently 32.13%.

Analyst Ratings Changes

OLED has been the topic of a number of recent analyst reports. Roth Mkm boosted their price target on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Susquehanna boosted their target price on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Oppenheimer cut their target price on Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Needham & Company LLC lowered their price target on Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, TD Cowen cut their price objective on Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $215.63.

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.