Epoch Investment Partners Inc. lifted its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 15.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,440,323 shares of the semiconductor company’s stock after acquiring an additional 459,918 shares during the period. Universal Display accounts for approximately 1.2% of Epoch Investment Partners Inc.’s investment portfolio, making the stock its 19th biggest holding. Epoch Investment Partners Inc. owned approximately 7.31% of Universal Display worth $347,473,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Blue Pool Management Ltd. acquired a new position in Universal Display during the fourth quarter worth approximately $5,870,000. TIAA CREF Investment Management LLC increased its position in Universal Display by 10.8% during the fourth quarter. TIAA CREF Investment Management LLC now owns 321,167 shares of the semiconductor company’s stock worth $55,449,000 after buying an additional 31,258 shares during the period. Jefferies Group LLC acquired a new position in Universal Display during the fourth quarter worth approximately $1,005,000. Daiwa Securities Group Inc. acquired a new position in Universal Display during the fourth quarter worth approximately $466,000. Finally, UBS Asset Management Americas Inc. increased its position in Universal Display by 48.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 396,713 shares of the semiconductor company’s stock worth $68,492,000 after buying an additional 128,667 shares during the period. 65.45% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Universal Display opened at $100.05 on Wednesday, MarketBeat reports. Universal Display Co. has a twelve month low of $86.85 and a twelve month high of $209.00. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of 41.17 and a beta of 1.38.
Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, May 3rd. The semiconductor company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. Universal Display had a return on equity of 17.53% and a net margin of 30.74%. The company had revenue of $43.57 million for the quarter, compared to the consensus estimate of $50.85 million. During the same period last year, the business posted $0.22 EPS. The company’s revenue was down 21.6% on a year-over-year basis. equities research analysts predict that Universal Display Co. will post 1.95 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be paid a $0.06 dividend. The ex-dividend date is Thursday, June 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.24%. Universal Display’s dividend payout ratio (DPR) is presently 9.88%.
In related news, Director Elizabeth H. Gemmill sold 2,500 shares of Universal Display stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $124.07, for a total value of $310,175.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.00% of the stock is owned by insiders.
Several research analysts have commented on OLED shares. Needham & Company LLC raised Universal Display from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Tuesday, February 20th. They noted that the move was a valuation call. Cowen set a $225.00 price target on Universal Display and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Deutsche Bank cut their price target on Universal Display from $190.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. Zacks Investment Research downgraded Universal Display from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. Finally, ValuEngine downgraded Universal Display from a “hold” rating to a “sell” rating in a research note on Wednesday, March 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $170.73.
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 flat panel displays and solid-state lighting applications. As of February 22, 2018, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 4,500 issued and pending patents worldwide.
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