Epoch Investment Partners Inc. Trims Stake in Universal Display Co. (NASDAQ:OLED)

Epoch Investment Partners Inc. decreased its stake in shares of Universal Display Co. (NASDAQ:OLED) by 21.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,497 shares of the semiconductor company’s stock after selling 397 shares during the period. Epoch Investment Partners Inc.’s holdings in Universal Display were worth $315,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in OLED. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Universal Display during the 2nd quarter worth about $127,668,000. Janus Henderson Group PLC boosted its stake in shares of Universal Display by 66.6% during the 1st quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock worth $73,099,000 after purchasing an additional 173,496 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in shares of Universal Display during the second quarter worth about $34,558,000. Strategic Financial Concepts LLC acquired a new position in shares of Universal Display in the second quarter valued at approximately $23,500,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Universal Display by 27.3% during the second quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company’s stock valued at $98,725,000 after buying an additional 100,809 shares during the period. 78.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on OLED. Needham & Company LLC lifted their target price on shares of Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. TD Cowen upped their target price on Universal Display from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Susquehanna raised their price target on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Oppenheimer lifted their price target on Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, July 3rd. Finally, Roth Mkm increased their price objective on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $225.88.

Universal Display Stock Performance

NASDAQ OLED opened at $214.35 on Wednesday. Universal Display Co. has a one year low of $133.67 and a one year high of $237.00. The company’s 50 day moving average price is $197.82 and its 200 day moving average price is $186.43. The firm has a market capitalization of $10.17 billion, a price-to-earnings ratio of 46.60, a PEG ratio of 2.27 and a beta of 1.41.

Universal Display (NASDAQ:OLED) last posted its 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). Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The business had revenue of $158.50 million for the quarter, compared to analyst estimates of $159.46 million. During the same quarter in the previous year, the firm posted $1.04 EPS. The business’s revenue was up 8.1% compared to the same quarter last year. Sell-side analysts forecast that Universal Display Co. will post 4.81 EPS for the current fiscal year.

Universal Display Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.75%. Universal Display’s dividend payout ratio (DPR) is currently 34.78%.

About Universal Display

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.