Thrivent Financial for Lutherans Sells 52,619 Shares of Universal Display Co. (NASDAQ:OLED)

Thrivent Financial for Lutherans lowered its stake in shares of Universal Display Co. (NASDAQ:OLED) by 27.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,410 shares of the semiconductor company’s stock after selling 52,619 shares during the quarter. Thrivent Financial for Lutherans owned about 0.29% of Universal Display worth $29,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. ORG Partners LLC bought a new stake in Universal Display during the first quarter valued at about $27,000. Principal Securities Inc. acquired a new stake in Universal Display in the fourth quarter worth about $34,000. Tsfg LLC acquired a new stake in Universal Display in the first quarter worth about $34,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in Universal Display in the fourth quarter worth about $35,000. Finally, Cape Investment Advisory Inc. boosted its holdings in Universal Display by 1,977.8% in the fourth quarter. Cape Investment Advisory Inc. now owns 187 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 178 shares in the last quarter. Institutional investors own 78.19% of the company’s stock.

Universal Display Trading Up 0.7 %

Shares of OLED stock opened at $212.93 on Tuesday. The stock has a 50 day moving average of $198.26 and a 200 day moving average of $186.12. The stock has a market cap of $10.10 billion, a P/E ratio of 46.29, a P/E/G ratio of 2.17 and a beta of 1.41. Universal Display Co. has a twelve month low of $133.67 and a twelve month high of $237.00.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.04). The company had revenue of $158.50 million for the quarter, compared to analysts’ expectations of $159.46 million. Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.04 earnings per share. On average, research analysts predict that Universal Display Co. will post 4.81 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Monday, September 16th. Universal Display’s dividend payout ratio is currently 34.78%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Roth Mkm raised their price target on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. The Goldman Sachs Group raised their price target on Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Susquehanna raised their price target on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Needham & Company LLC raised their price objective on Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Finally, TD Cowen raised their price objective on Universal Display from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.88.

Universal Display Company 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.