Legal & General Group Plc Sells 9,145 Shares of Universal Display Corporation $OLED

Legal & General Group Plc lessened its stake in Universal Display Corporation (NASDAQ:OLED) by 11.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,629 shares of the semiconductor company’s stock after selling 9,145 shares during the quarter. Legal & General Group Plc owned about 0.14% of Universal Display worth $7,898,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in shares of Universal Display by 309.8% in the third quarter. Smartleaf Asset Management LLC now owns 209 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 158 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in shares of Universal Display in the third quarter worth about $33,000. Jones Financial Companies Lllp increased its holdings in shares of Universal Display by 104.2% in the third quarter. Jones Financial Companies Lllp now owns 388 shares of the semiconductor company’s stock worth $58,000 after acquiring an additional 198 shares in the last quarter. RHL Group LLC bought a new stake in shares of Universal Display in the fourth quarter worth about $60,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Universal Display in the second quarter worth about $62,000. Institutional investors own 78.19% of the company’s stock.

Universal Display Stock Performance

Shares of NASDAQ OLED opened at $86.11 on Friday. The stock has a 50 day moving average price of $93.31 and a 200 day moving average price of $106.93. Universal Display Corporation has a 52 week low of $83.64 and a 52 week high of $163.21. The stock has a market capitalization of $4.03 billion, a PE ratio of 19.22 and a beta of 1.54.

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

Universal Display Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 2.3%. Universal Display’s dividend payout ratio is 44.64%.

Wall Street Analyst Weigh In

OLED has been the subject of several recent analyst reports. Roth Mkm set a $168.00 price target on Universal Display in a report on Friday, May 1st. Oppenheimer lowered their price target on Universal Display from $160.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Zacks Research downgraded Universal Display from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Citigroup reduced their price objective on Universal Display from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Finally, The Goldman Sachs Group set a $135.00 price objective on Universal Display in a research report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Universal Display currently has a consensus rating of “Hold” and an average target price of $130.60.

Universal Display Profile

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.