Universal Display Co. (NASDAQ:OLED) Stock Holdings Lowered by Truist Financial Corp

Truist Financial Corp reduced its holdings in Universal Display Co. (NASDAQ:OLED) by 22.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,969 shares of the semiconductor company’s stock after selling 585 shares during the quarter. Truist Financial Corp’s holdings in Universal Display were worth $414,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Red Spruce Capital LLC raised its holdings in shares of Universal Display by 0.7% during the second quarter. Red Spruce Capital LLC now owns 11,146 shares of the semiconductor company’s stock valued at $2,343,000 after acquiring an additional 76 shares during the period. CIBC Asset Management Inc grew its position in Universal Display by 7.6% during the second quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company’s stock valued at $284,000 after purchasing an additional 96 shares in the last quarter. Bahl & Gaynor Inc. grew its position in Universal Display by 0.5% during the first quarter. Bahl & Gaynor Inc. now owns 18,645 shares of the semiconductor company’s stock valued at $3,141,000 after purchasing an additional 101 shares in the last quarter. Inspire Investing LLC grew its position in Universal Display by 5.4% during the first quarter. Inspire Investing LLC now owns 2,107 shares of the semiconductor company’s stock valued at $355,000 after purchasing an additional 108 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Universal Display by 42.4% during the second quarter. GAMMA Investing LLC now owns 514 shares of the semiconductor company’s stock valued at $108,000 after purchasing an additional 153 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

Universal Display Price Performance

NASDAQ:OLED opened at $204.99 on Friday. The stock has a market cap of $9.73 billion, a P/E ratio of 43.99, a PEG ratio of 2.20 and a beta of 1.42. Universal Display Co. has a one year low of $133.67 and a one year high of $237.00. The company has a fifty day moving average price of $197.99 and a 200 day moving average price of $191.16.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $159.46 million. During the same quarter in the prior year, the company posted $1.04 EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Universal Display Co. will post 4.81 EPS for the current year.

Universal Display Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Monday, September 16th. Universal Display’s dividend payout ratio is 34.33%.

Analyst Upgrades and Downgrades

OLED has been the topic of a number of research analyst reports. Roth Mkm boosted their price objective on shares of Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Susquehanna boosted their target price on shares of Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. TD Cowen boosted their target price on shares of Universal Display from $210.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Oppenheimer boosted their target price on shares of Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 3rd. Finally, The Goldman Sachs Group boosted their target price on shares of Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Universal Display currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.88.

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.