Amalgamated Bank Has $2.89 Million Position in Universal Display Corporation (NASDAQ:OLED)

Amalgamated Bank cut its stake in shares of Universal Display Corporation (NASDAQ:OLED) by 3.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,747 shares of the semiconductor company’s stock after selling 743 shares during the quarter. Amalgamated Bank’s holdings in Universal Display were worth $2,894,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OLED. Jones Financial Companies Lllp boosted its position in shares of Universal Display by 2,005.9% during the 4th quarter. Jones Financial Companies Lllp now owns 358 shares of the semiconductor company’s stock valued at $52,000 after purchasing an additional 341 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Universal Display during the 4th quarter valued at about $187,000. Steward Partners Investment Advisory LLC boosted its position in shares of Universal Display by 98.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 827 shares of the semiconductor company’s stock valued at $121,000 after purchasing an additional 410 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Universal Display by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 341,019 shares of the semiconductor company’s stock valued at $49,857,000 after purchasing an additional 7,147 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Universal Display by 0.7% during the 4th quarter. Arizona State Retirement System now owns 13,065 shares of the semiconductor company’s stock valued at $1,910,000 after purchasing an additional 88 shares in the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OLED has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $170.00 target price on shares of Universal Display in a research report on Friday, May 2nd. Wall Street Zen upgraded Universal Display from a “sell” rating to a “hold” rating in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $190.43.

Universal Display Stock Performance

Shares of NASDAQ:OLED opened at $158.91 on Friday. The business’s 50 day simple moving average is $149.54 and its two-hundred day simple moving average is $144.92. The firm has a market cap of $7.55 billion, a P/E ratio of 33.04, a PEG ratio of 1.73 and a beta of 1.51. Universal Display Corporation has a 52-week low of $103.70 and a 52-week high of $237.00.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.28. The business had revenue of $166.28 million for the quarter, compared to analyst estimates of $154.76 million. Universal Display had a return on equity of 15.35% and a net margin of 35.40%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.19 earnings per share. On average, equities analysts forecast that Universal Display Corporation will post 4.71 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, June 16th. Universal Display’s dividend payout ratio (DPR) is presently 37.42%.

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.