Victory Capital Management Inc. Sells 11,528 Shares of Universal Display Co. (NASDAQ:OLED)

Victory Capital Management Inc. decreased its position in Universal Display Co. (NASDAQ:OLED) by 55.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,101 shares of the semiconductor company’s stock after selling 11,528 shares during the period. Victory Capital Management Inc.’s holdings in Universal Display were worth $1,913,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

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

Universal Display Price Performance

Shares of NASDAQ OLED opened at $204.39 on Thursday. Universal Display Co. has a fifty-two week low of $133.67 and a fifty-two week high of $237.00. The stock has a market capitalization of $9.70 billion, a PE ratio of 44.43, a P/E/G ratio of 2.17 and a beta of 1.41. The business has a fifty day moving average price of $199.45 and a two-hundred day moving average price of $185.03.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). Universal Display had a return on equity of 15.25% and a net margin of 35.74%. The business had revenue of $158.50 million for the quarter, compared to analyst estimates of $159.46 million. During the same period last year, the firm posted $1.04 EPS. Universal Display’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities analysts expect that Universal Display Co. will post 4.81 EPS for the current year.

Universal Display Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.40 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a yield of 0.78%. Universal Display’s payout ratio is presently 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.