Universal Display Corporation $OLED Stake Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in Universal Display Corporation (NASDAQ:OLED) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 472,363 shares of the semiconductor company’s stock after buying an additional 14,356 shares during the period. JPMorgan Chase & Co. owned 0.99% of Universal Display worth $67,846,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in OLED. Smartleaf Asset Management LLC grew its holdings in Universal Display by 309.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 209 shares of the semiconductor company’s stock worth $30,000 after buying an additional 158 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in Universal Display during the 3rd quarter valued at $33,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Universal Display during the 3rd quarter worth $37,000. Rise Advisors LLC grew its stake in shares of Universal Display by 53.3% in the third quarter. Rise Advisors LLC now owns 299 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 104 shares in the last quarter. Finally, Country Trust Bank acquired a new position in shares of Universal Display during the second quarter valued at $46,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

Analysts Set New Price Targets

OLED has been the topic of a number of recent analyst reports. Needham & Company LLC cut their price objective on shares of Universal Display from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a research report on Wednesday, December 24th. Wall Street Zen raised shares of Universal Display from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Citigroup dropped their price target on shares of Universal Display from $150.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 27th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $180.00 price target on shares of Universal Display in a research note on Friday, February 20th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $151.67.

Universal Display Stock Performance

OLED opened at $95.38 on Friday. The company has a market capitalization of $4.49 billion, a PE ratio of 18.81, a P/E/G ratio of 7.50 and a beta of 1.65. The stock’s fifty day moving average is $112.39 and its 200-day moving average is $125.05. Universal Display Corporation has a one year low of $93.03 and a one year high of $163.21.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, February 19th. The semiconductor company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.11. The business had revenue of $172.93 million during the quarter, compared to analysts’ expectations of $173.35 million. Universal Display had a return on equity of 14.07% and a net margin of 37.21%.During the same quarter last year, the business posted $1.22 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. On average, equities research analysts forecast that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a dividend of $0.50 per share. This is a positive change from Universal Display’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 2.1%. Universal Display’s payout ratio is 39.45%.

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.