Sterling Capital Management LLC Has $2.74 Million Stake in Universal Display Corporation $OLED

Sterling Capital Management LLC decreased its stake in shares of Universal Display Corporation (NASDAQ:OLED) by 67.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,875 shares of the semiconductor company’s stock after selling 61,297 shares during the period. Sterling Capital Management LLC owned about 0.06% of Universal Display worth $2,738,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of OLED. Louisiana State Employees Retirement System purchased a new position in Universal Display during the first quarter worth about $1,173,000. Apella Capital LLC increased its stake in Universal Display by 128.8% in the 1st quarter. Apella Capital LLC now owns 4,922 shares of the semiconductor company’s stock valued at $490,000 after buying an additional 2,771 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Universal Display by 27.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 34,168 shares of the semiconductor company’s stock worth $3,132,000 after buying an additional 7,424 shares in the last quarter. Diversified Trust Co bought a new position in shares of Universal Display during the 1st quarter worth approximately $683,000. Finally, Hsbc Holdings PLC boosted its stake in shares of Universal Display by 890.9% in the 4th quarter. Hsbc Holdings PLC now owns 38,091 shares of the semiconductor company’s stock worth $4,489,000 after buying an additional 34,247 shares during the last quarter. Institutional investors own 78.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Citigroup dropped their price target on Universal Display from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Roth Mkm set a $168.00 price target on shares of Universal Display in a report on Friday, May 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Universal Display in a research report on Thursday, June 18th. Needham & Company LLC decreased their price objective on shares of Universal Display from $145.00 to $120.00 and set a “buy” rating for the company in a report on Friday, May 1st. Finally, Zacks Research lowered shares of Universal Display from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $130.60.

Universal Display Price Performance

Shares of NASDAQ:OLED opened at $87.16 on Monday. The firm has a market capitalization of $4.07 billion, a PE ratio of 19.46 and a beta of 1.54. Universal Display Corporation has a twelve month low of $83.64 and a twelve month high of $162.36. The company has a 50-day moving average price of $91.98 and a two-hundred day moving average price of $103.88.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.37). The company had revenue of $142.21 million for 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%. The business’s revenue for the quarter was down 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.35 earnings per share. 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 declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, June 16th. Universal Display’s dividend payout ratio (DPR) is presently 44.64%.

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.