Korea Investment CORP Buys 9,293 Shares of Universal Display Corporation $OLED

Korea Investment CORP increased its stake in shares of Universal Display Corporation (NASDAQ:OLED) by 75.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,580 shares of the semiconductor company’s stock after acquiring an additional 9,293 shares during the quarter. Korea Investment CORP’s holdings in Universal Display were worth $3,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Peregrine Investment Management Inc. boosted its stake in shares of Universal Display by 24.7% during the third quarter. Peregrine Investment Management Inc. now owns 50,560 shares of the semiconductor company’s stock valued at $7,262,000 after purchasing an additional 10,000 shares during the period. Truist Financial Corp increased its stake in shares of Universal Display by 54.7% in the third quarter. Truist Financial Corp now owns 63,262 shares of the semiconductor company’s stock worth $9,086,000 after buying an additional 22,380 shares during the period. Baker Avenue Asset Management LP purchased a new position in shares of Universal Display in the second quarter worth $1,398,000. Creative Planning raised its holdings in Universal Display by 12.7% during the 2nd quarter. Creative Planning now owns 19,847 shares of the semiconductor company’s stock valued at $3,066,000 after buying an additional 2,239 shares during the last quarter. Finally, Avenir Corp boosted its position in Universal Display by 14.5% during the 2nd quarter. Avenir Corp now owns 223,150 shares of the semiconductor company’s stock valued at $34,468,000 after buying an additional 28,277 shares during the period. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Stock Down 3.8%

Shares of OLED stock opened at $94.71 on Friday. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 7.57 and a beta of 1.65. The stock has a fifty day moving average of $115.29 and a 200 day moving average of $126.66. Universal Display Corporation has a 52 week low of $93.03 and a 52 week high of $163.21.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, February 19th. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.11. Universal Display had a net margin of 37.21% and a return on equity of 14.07%. The business had revenue of $172.93 million for the quarter, compared to the consensus estimate of $173.35 million. During the same period in the previous year, the firm earned $1.22 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts anticipate that Universal Display Corporation will post 4.71 earnings per share for the current year.

Universal Display Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a dividend of $0.50 per share. This is an increase from Universal Display’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, March 17th. Universal Display’s dividend payout ratio is presently 35.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on OLED shares. Wall Street Zen raised shares of Universal Display from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Roth Mkm reaffirmed a “buy” rating and set a $180.00 price objective on shares of Universal Display in a research note on Friday, February 20th. Citigroup dropped their target price on shares of Universal Display from $150.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, January 27th. Needham & Company LLC cut their target price on Universal Display from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Finally, Zacks Research downgraded Universal Display from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $151.67.

Universal Display Profile

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.