Crossmark Global Holdings Inc. Sells 9,770 Shares of Universal Display Corporation $OLED

Crossmark Global Holdings Inc. trimmed its holdings in shares of Universal Display Corporation (NASDAQ:OLED) by 7.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 124,922 shares of the semiconductor company’s stock after selling 9,770 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Universal Display were worth $9,624,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Pension & Wealth Management Advisors Inc. purchased a new stake in Universal Display during the third quarter worth $28,000. NFSG Corp bought a new position in shares of Universal Display in the 3rd quarter worth $31,000. Elevation Wealth Partners LLC bought a new position in shares of Universal Display in the 3rd quarter worth $51,000. Versant Capital Management Inc raised its position in shares of Universal Display by 347.8% in the 3rd quarter. Versant Capital Management Inc now owns 703 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 546 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Universal Display by 373.0% in the 3rd quarter. GAMMA Investing LLC now owns 965 shares of the semiconductor company’s stock worth $74,000 after acquiring an additional 761 shares in the last quarter. Institutional investors own 78.19% of the company’s stock.

Universal Display Stock Up 4.3%

Shares of NASDAQ:OLED opened at $87.45 on Friday. Universal Display Corporation has a 52-week low of $70.77 and a 52-week high of $152.24. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 21.17 and a beta of 1.53. The business has a 50-day moving average price of $80.56 and a 200-day moving average price of $85.96.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.03. The business had revenue of $152.16 million during the quarter, compared to analyst estimates of $157.54 million. Universal Display had a return on equity of 11.35% and a net margin of 32.24%. The company’s revenue was down 11.4% on a year-over-year basis. During the same quarter last year, the business posted $1.41 EPS. As a group, equities analysts anticipate that Universal Display Corporation will post 4.17 EPS for the current fiscal year.

Universal Display Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, September 16th. Universal Display’s payout ratio is 48.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Citigroup cut Universal Display from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $85.00 to $71.00 in a research note on Thursday, October 8th. Zacks Research upgraded Universal Display from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Susquehanna reduced their target price on shares of Universal Display from $110.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, July 31st. BTIG Research downgraded shares of Universal Display to a “neutral” rating in a report on Friday, July 31st. Finally, Needham & Company LLC decreased their price target on shares of Universal Display from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $114.00.

Universal Display Profile

Universal Display Corporation (NASDAQ: OLED) develops and commercializes technologies and materials used in organic light-emitting diode (OLED) displays and lighting. The company’s portfolio includes phosphorescent OLED (PHOLED) materials, which are designed to improve display efficiency, along with OLED research, development and manufacturing technologies.

Universal Display supplies OLED emitter materials and related products to display manufacturers and licenses its intellectual property and technology.