Universal Display Co. (NASDAQ:OLED) Position Trimmed by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,231 shares of the semiconductor company’s stock after selling 2,247 shares during the period. Corebridge Financial Inc.’s holdings in Universal Display were worth $7,344,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Universal Display by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 4,784,099 shares of the semiconductor company’s stock worth $699,435,000 after acquiring an additional 67,590 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Universal Display by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 799,352 shares of the semiconductor company’s stock worth $167,825,000 after purchasing an additional 15,015 shares during the last quarter. Jennison Associates LLC boosted its position in Universal Display by 58.2% during the 4th quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock valued at $99,975,000 after purchasing an additional 251,557 shares during the period. Bank of New York Mellon Corp boosted its position in Universal Display by 10.7% during the 4th quarter. Bank of New York Mellon Corp now owns 437,592 shares of the semiconductor company’s stock valued at $63,976,000 after purchasing an additional 42,218 shares during the period. Finally, Southpoint Capital Advisors LP increased its position in Universal Display by 46.0% in the third quarter. Southpoint Capital Advisors LP now owns 365,000 shares of the semiconductor company’s stock worth $76,614,000 after buying an additional 115,000 shares during the period. 78.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OLED has been the subject of several analyst reports. Roth Mkm boosted their price target on shares of Universal Display from $207.00 to $213.00 and gave the company a “buy” rating in a report on Friday, February 21st. The Goldman Sachs Group decreased their target price on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Oppenheimer cut their price target on Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, January 2nd. StockNews.com raised Universal Display from a “sell” rating to a “hold” rating in a report on Friday, March 21st. Finally, Needham & Company LLC cut their target price on Universal Display from $215.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $190.43.

Universal Display Stock Performance

Shares of NASDAQ OLED opened at $145.17 on Friday. Universal Display Co. has a 1 year low of $140.17 and a 1 year high of $237.00. The stock has a fifty day moving average price of $149.47 and a two-hundred day moving average price of $168.25. The firm has a market cap of $6.89 billion, a P/E ratio of 31.22, a PEG ratio of 1.61 and a beta of 1.40.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.14. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The firm had revenue of $162.29 million for the quarter, compared to analyst estimates of $152.75 million. On average, research analysts predict that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 1.24%. Universal Display’s dividend payout ratio is currently 38.71%.

Universal Display Company Profile

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.