Neuberger Berman Group LLC Cuts Stake in Universal Display Co. (NASDAQ:OLED)

Neuberger Berman Group LLC reduced its stake in Universal Display Co. (NASDAQ:OLED) by 43.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 438,764 shares of the semiconductor company’s stock after selling 340,726 shares during the period. Neuberger Berman Group LLC’s holdings in Universal Display were worth $96,961,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Berman Capital Advisors LLC boosted its holdings in shares of Universal Display by 242.9% in the 2nd quarter. Berman Capital Advisors LLC now owns 120 shares of the semiconductor company’s stock worth $26,000 after buying an additional 85 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Universal Display by 1,966.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 118 shares during the period. Strategic Blueprint LLC bought a new stake in Universal Display in the 2nd quarter valued at about $36,000. O Shaughnessy Asset Management LLC raised its stake in Universal Display by 160.7% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 232 shares of the semiconductor company’s stock valued at $52,000 after acquiring an additional 143 shares during the period. Finally, McCarthy Asset Management Inc. bought a new stake in Universal Display in the 2nd quarter valued at about $53,000. 69.16% of the stock is currently owned by institutional investors.

A number of brokerages recently issued reports on OLED. Zacks Investment Research upgraded Universal Display from a “sell” rating to a “hold” rating and set a $176.00 price objective on the stock in a research note on Wednesday, October 6th. Roth Capital boosted their price objective on Universal Display from $250.00 to $258.00 and gave the company a “buy” rating in a research note on Friday, August 6th. Oppenheimer restated a “market perform” rating and issued a $275.00 price objective on shares of Universal Display in a research note on Tuesday, October 5th. Finally, Cowen restated an “outperform” rating and issued a $285.00 price objective on shares of Universal Display in a research note on Tuesday, October 5th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $255.22.

Shares of OLED opened at $172.96 on Thursday. The firm has a market cap of $8.15 billion, a P/E ratio of 44.24, a P/E/G ratio of 1.65 and a beta of 1.29. The stock has a 50 day simple moving average of $194.70 and a two-hundred day simple moving average of $210.88. Universal Display Co. has a 1 year low of $163.30 and a 1 year high of $262.77.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, August 5th. The semiconductor company reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.12. The business had revenue of $129.66 million during the quarter, compared to analyst estimates of $122.38 million. Universal Display had a return on equity of 19.98% and a net margin of 35.73%. As a group, equities research analysts anticipate that Universal Display Co. will post 4.05 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Thursday, September 16th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date was Wednesday, September 15th. Universal Display’s dividend payout ratio is currently 28.57%.

Universal Display Profile

Universal Display Corp. engages in research, development, and commercialization of organic light emitting diode (OLED) technologies, and materials. It also develops and licenses proprietary OLED technologies to manufacturers of products for display applications, such as cell phones; portable media devices; tablets; laptop computers and televisions; and specialty and general lighting products.

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Institutional Ownership by Quarter for Universal Display (NASDAQ:OLED)

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