Corebridge Financial Inc. Has $7.34 Million Stock Holdings in Universal Display Co. (NASDAQ:OLED)

Corebridge Financial Inc. trimmed its holdings in shares of Universal Display Co. (NASDAQ:OLED - Free Report) 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. owned approximately 0.11% of Universal Display worth $7,344,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research firms have recently commented on OLED. Needham & Company LLC dropped their price objective 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. Citigroup cut their price target on shares of Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a report on Monday, February 10th. StockNews.com raised shares of Universal Display from a "sell" rating to a "hold" rating in a research note on Friday, March 21st. The Goldman Sachs Group cut 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 note on Thursday, February 6th. Finally, Roth Mkm raised their target price on shares of Universal Display from $207.00 to $213.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $190.43.

Universal Display Price Performance

Universal Display stock traded up $0.34 during midday trading on Wednesday, reaching $139.23. The stock had a trading volume of 80,337 shares, compared to its average volume of 510,203. The firm's fifty day simple moving average is $149.05 and its two-hundred day simple moving average is $166.88. Universal Display Co. has a twelve month low of $135.14 and a twelve month high of $237.00. The firm has a market cap of $6.61 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 1.61 and a beta of 1.40.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.08 by $0.14. The business had revenue of $162.29 million during the quarter, compared to analysts' expectations of $152.75 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. As a group, sell-side analysts predict that Universal Display Co. will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.29%. This is a positive change from Universal Display's previous quarterly dividend of $0.40. The ex-dividend date was Monday, March 17th. Universal Display's dividend payout ratio is 38.71%.

Universal Display 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.