Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 4.06MM shares of Universal Display Corporation (OLED). This represents 8.6% of the company.
In their previous filing dated February 1, 2022 they reported 4.19MM shares and 8.90% of the company, a decrease in shares of 3.18% and a decrease in total ownership of 0.30% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 0.72% Upside
As of February 2, 2023, the average one-year price target for Universal Display is $139.02. The forecasts range from a low of $82.82 to a high of $200.55. The average price target represents an increase of 0.72% from its latest reported closing price of $138.02.
The projected annual revenue for Universal Display is $646MM, an increase of 8.84%. The projected annual EPS is $4.26, an increase of 6.29%.
Fund Sentiment
There are 783 funds or institutions reporting positions in Universal Display. This is a decrease of 22 owner(s) or 2.73%.
Average portfolio weight of all funds dedicated to US:OLED is 0.1941%, an increase of 10.4600%. Total shares owned by institutions increased in the last three months by 4.12% to 41,493K shares.
What are large shareholders doing?
Primecap Management holds 2,137,199 shares representing 4.52% ownership of the company. In it's prior filing, the firm reported owning 2,135,129 shares, representing an increase of 0.10%. The firm increased its portfolio allocation in OLED by 1.09% over the last quarter.
Ubs Asset Management Americas holds 1,644,735 shares representing 3.48% ownership of the company. In it's prior filing, the firm reported owning 1,758,476 shares, representing a decrease of 6.92%. The firm decreased its portfolio allocation in OLED by 86.46% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 1,269,723 shares representing 2.69% ownership of the company. In it's prior filing, the firm reported owning 1,249,071 shares, representing an increase of 1.63%. The firm decreased its portfolio allocation in OLED by 4.70% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,269,599 shares representing 2.69% ownership of the company. In it's prior filing, the firm reported owning 1,251,292 shares, representing an increase of 1.44%. The firm decreased its portfolio allocation in OLED by 1.34% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 1,079,219 shares representing 2.28% ownership of the company. In it's prior filing, the firm reported owning 1,072,615 shares, representing an increase of 0.61%. The firm decreased its portfolio allocation in OLED by 2.12% over the last quarter.
Universal Display Declares $0.30 Dividend
Universal Display said on November 3, 2022 that its board of directors declared a regular quarterly dividend of $0.30 per share ($1.20 annualized). Shareholders of record as of December 15, 2022 received the payment on December 30, 2022. Previously, the company paid $0.30 per share.
At the current share price of $138.02 / share, the stock's dividend yield is 0.87%. Looking back five years and taking a sample every week, the average dividend yield has been 0.43%, the lowest has been 0.08%, and the highest has been 1.26%. The standard deviation of yields is 0.29 (n=236).
The current dividend yield is 1.49 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.30. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 2.00%, demonstrating that it has increased its dividend over time.
Universal Display Background Information
(This description is provided by the company.)
Universal Display Corporation is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display, solid-state lighting applications with subsidiaries and offices around the world. Founded in 1994, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,000 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
