Corient Private Wealth LLC Reduces Position in Universal Display Co. (NASDAQ:OLED)

Corient Private Wealth LLC lowered its holdings in Universal Display Co. (NASDAQ:OLED) by 41.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,033 shares of the semiconductor company’s stock after selling 10,652 shares during the period. Corient Private Wealth LLC’s holdings in Universal Display were worth $2,198,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of OLED. Geode Capital Management LLC boosted its stake in shares of Universal Display by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 799,352 shares of the semiconductor company’s stock valued at $167,825,000 after buying an additional 15,015 shares during the last quarter. Jennison Associates LLC raised its holdings in Universal Display by 58.2% in the fourth quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock valued at $99,975,000 after acquiring an additional 251,557 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Universal Display by 10.7% during the 4th quarter. Bank of New York Mellon Corp now owns 437,592 shares of the semiconductor company’s stock valued at $63,976,000 after acquiring an additional 42,218 shares during the last quarter. Southpoint Capital Advisors LP grew its holdings in Universal Display by 46.0% during the 3rd quarter. Southpoint Capital Advisors LP now owns 365,000 shares of the semiconductor company’s stock worth $76,614,000 after acquiring an additional 115,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Universal Display by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 341,019 shares of the semiconductor company’s stock worth $49,857,000 after purchasing an additional 7,147 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Price Performance

NASDAQ:OLED opened at $148.50 on Monday. Universal Display Co. has a 12-month low of $140.17 and a 12-month high of $237.00. The business has a 50 day simple moving average of $149.09 and a 200 day simple moving average of $169.28. The firm has a market capitalization of $7.05 billion, a P/E ratio of 31.94, a P/E/G ratio of 1.61 and a beta of 1.40.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, February 20th. The semiconductor company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.08 by $0.14. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The business had revenue of $162.29 million during the quarter, compared to analyst estimates of $152.75 million. Research analysts anticipate that Universal Display Co. will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Universal Display’s previous quarterly dividend of $0.40. Universal Display’s payout ratio is 38.71%.

Wall Street Analyst Weigh In

A number of research firms recently commented on OLED. The Goldman Sachs Group decreased their price target on Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Citigroup decreased their target price on Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Oppenheimer dropped their price target on Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, January 2nd. Susquehanna decreased their price objective on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Finally, Roth Mkm boosted their target price on shares of Universal Display from $207.00 to $213.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Universal Display presently has a consensus rating of “Moderate Buy” and an average price target of $190.43.

Universal Display Profile

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.