Glenmede Trust Co. NA Has $2.26 Million Stock Position in Universal Display Corporation $OLED

Glenmede Trust Co. NA lowered its stake in Universal Display Corporation (NASDAQ:OLED) by 24.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,705 shares of the semiconductor company’s stock after selling 7,970 shares during the quarter. Glenmede Trust Co. NA’s holdings in Universal Display were worth $2,264,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Measured Wealth Private Client Group LLC acquired a new stake in shares of Universal Display during the third quarter worth $33,000. RHL Group LLC bought a new position in Universal Display during the 4th quarter worth about $60,000. Canada Pension Plan Investment Board bought a new position in Universal Display during the 2nd quarter worth about $62,000. UMB Bank n.a. raised its stake in shares of Universal Display by 28.3% in the 4th quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company’s stock valued at $64,000 after purchasing an additional 121 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of Universal Display in the fourth quarter valued at about $75,000. Institutional investors own 78.19% of the company’s stock.

Universal Display Stock Performance

NASDAQ:OLED opened at $85.93 on Thursday. Universal Display Corporation has a 52-week low of $76.42 and a 52-week high of $153.38. The company has a market cap of $3.95 billion, a P/E ratio of 20.81 and a beta of 1.54. The stock’s 50-day simple moving average is $84.89 and its 200 day simple moving average is $96.15.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $1.06 EPS for the quarter, beating the consensus estimate of $1.03 by $0.03. The firm had revenue of $152.16 million during the quarter, compared to analysts’ expectations of $157.54 million. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The business’s quarterly revenue was down 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.41 earnings per share. As a group, equities analysts predict that Universal Display Corporation will post 4.18 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 16th. Universal Display’s dividend payout ratio is presently 48.43%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on OLED shares. Oppenheimer reaffirmed an “outperform” rating and set a $120.00 price objective (down from $130.00) on shares of Universal Display in a research report on Friday, July 31st. Roth Capital set a $168.00 target price on Universal Display in a research note on Friday, May 1st. Zacks Research downgraded Universal Display from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. The Goldman Sachs Group set a $135.00 price objective on shares of Universal Display in a report on Tuesday, April 21st. Finally, BTIG Research lowered shares of Universal Display to a “neutral” rating in a research report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $116.33.

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.