Truist Financial Corp reduced its holdings in Universal Display Co. (NASDAQ:OLED – Free Report) 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 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.
Check Out Our Latest Analysis on Universal Display
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.
See Also
- Five stocks we like better than Universal Display
- P/E Ratio Calculation: How to Assess Stocks
- Taiwan Semiconductor Soars on Earnings With More Room to Run
- Canada Bond Market Holiday: How to Invest and Trade
- Is Lucid Group Nearing the Bottom? What Investors Should Know
- How to Invest in Small Cap StocksĀ
- 90% Gain Possible? Analysts Are Bullish on Joby Aviation
Want to see what other hedge funds are holding OLED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Display Co. (NASDAQ:OLED – Free Report).
Receive News & Ratings for Universal Display Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Display and related companies with MarketBeat.com's FREE daily email newsletter.