Amalgamated Bank Cuts Holdings in Universal Display Co. (NASDAQ:OLED)

Amalgamated Bank cut its holdings in Universal Display Co. (NASDAQ:OLED) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,011 shares of the semiconductor company’s stock after selling 461 shares during the quarter. Amalgamated Bank owned 0.07% of Universal Display worth $5,931,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its stake in Universal Display by 7.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 15,697 shares of the semiconductor company’s stock valued at $2,464,000 after acquiring an additional 1,107 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Universal Display by 2.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,190 shares of the semiconductor company’s stock valued at $1,286,000 after buying an additional 162 shares during the last quarter. Xponance Inc. increased its position in Universal Display by 3.7% during the third quarter. Xponance Inc. now owns 7,838 shares of the semiconductor company’s stock worth $1,230,000 after buying an additional 280 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Universal Display by 1.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 21,316 shares of the semiconductor company’s stock valued at $3,346,000 after acquiring an additional 282 shares in the last quarter. Finally, Stratos Wealth Partners LTD. acquired a new stake in shares of Universal Display during the third quarter valued at $340,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on OLED. Citigroup reaffirmed a “neutral” rating and set a $180.00 price target (up from $161.00) on shares of Universal Display in a research note on Friday, January 19th. TD Cowen increased their price target on Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $198.00 price objective on shares of Universal Display in a research report on Friday. Finally, Oppenheimer reissued an “outperform” rating and issued a $200.00 price target (down from $210.00) on shares of Universal Display in a research note on Friday, February 23rd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $199.86.

Universal Display Stock Performance

NASDAQ OLED opened at $170.82 on Monday. The firm has a market capitalization of $8.10 billion, a price-to-earnings ratio of 37.13, a PEG ratio of 1.85 and a beta of 1.44. Universal Display Co. has a one year low of $131.00 and a one year high of $194.84. The company’s 50 day moving average price is $163.28 and its 200 day moving average price is $169.10.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.14. Universal Display had a net margin of 36.00% and a return on equity of 15.57%. The business had revenue of $165.26 million for the quarter, compared to the consensus estimate of $150.75 million. During the same quarter last year, the firm posted $0.83 EPS. The business’s revenue for the quarter was up 26.7% compared to the same quarter last year. Sell-side analysts forecast that Universal Display Co. will post 4.74 EPS for the current fiscal year.

Universal Display Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, June 14th. Universal Display’s dividend payout ratio (DPR) is presently 34.78%.

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.