Glenmede Trust Co. NA Has $2.26 Million Position in Universal Display Corporation $OLED

Glenmede Trust Co. NA lessened its stake in Universal Display Corporation (NASDAQ:OLED) by 24.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,705 shares of the semiconductor company’s stock after selling 7,970 shares during the period. Glenmede Trust Co. NA owned 0.05% of Universal Display worth $2,264,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC acquired a new position in shares of Universal Display during the third quarter valued at $33,000. RHL Group LLC bought a new position in Universal Display in the fourth quarter valued at about $60,000. Canada Pension Plan Investment Board acquired a new stake in Universal Display in the second quarter worth about $62,000. UMB Bank n.a. increased its position in Universal Display by 28.3% in the fourth quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company’s stock worth $64,000 after purchasing an additional 121 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new stake in Universal Display during the 4th quarter worth about $75,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

Wall Street Analysts Forecast Growth

OLED has been the topic of a number of research reports. Weiss Ratings downgraded shares of Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. The Goldman Sachs Group set a $135.00 price target on shares of Universal Display in a research note on Tuesday, April 21st. Zacks Research lowered shares of Universal Display from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Oppenheimer reaffirmed an “outperform” rating and set a $120.00 target price (down from $130.00) on shares of Universal Display in a report on Friday, July 31st. Finally, Susquehanna dropped their target price on shares of Universal Display from $110.00 to $90.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Universal Display presently has an average rating of “Hold” and an average price target of $116.33.

Universal Display Stock Performance

Shares of NASDAQ:OLED opened at $85.93 on Thursday. Universal Display Corporation has a 52 week low of $76.42 and a 52 week high of $153.38. The company has a market capitalization of $3.95 billion, a PE ratio of 20.81 and a beta of 1.54. The company has a 50 day moving average price of $84.89 and a two-hundred day moving average price of $96.15.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The company had revenue of $152.16 million for the quarter, compared to analysts’ expectations of $157.54 million. During the same period last year, the firm posted $1.41 earnings per share. The business’s quarterly revenue was down 11.4% compared to the same quarter last year. On average, sell-side analysts forecast that Universal Display Corporation will post 4.18 earnings per share for the current year.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 16th. Universal Display’s payout ratio is presently 48.43%.

About Universal Display

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.