The latest Form 13F filing with the Securities & Exchange Commission reveals that Los Angeles Capital Management LLC has decreased its position in Universal Display Co. (NASDAQ:OLED) by 12.7% during the fourth quarter of the financial year ending December 31, 2022. The firm now owns approximately 0.21% of Universal Display Corp., worth $10,942,000 at the end of the quarter following the sale of 14,691 shares that brings their total down to 101,273 shares.
Universal Display Corporation specializes in research and development for organic light-emitting diode (OLED) technologies and materials. The corporation also licenses and develops proprietary OLED technologies to manufacturers of products such as cell phones, televisions, laptop computers, tablets and specialty/general lighting products for display applications.
Universal Display Corp opened at $132.99 on Friday, recording a twelve-month-low of $89.41 and a high of $155.91 within that period- one can attribute this tumble in share value to the decrease in holdings from Los Angeles Capital Management LLC over Q4.
The current market capitalization stands at $6.29 billion with an attractive P/E ratio of 30.23; Universal Display also boasts a P/E/G ratio of 2.28 and a beta of 1.41 reflecting a relatively high degree of risk associated with this stock relative to market fluctuations.
In conclusion, despite losing some support from Los Angeles Capital Management LLC in Q4 which contributed significantly to their sliding value early morning April Friday last week at open; Universal Display Corporation has continued along its path towards making an impact in developing technologies that benefit various tech gadgets and we await further developments from them but they seem like quite a promising stock for those looking for medium term investments returns in technology if historical performance is anything to go by!
Universal Display Corp attracts growing support from institutional investors as it reports impressive earnings and dividend increases
Universal Display Corp, a pioneer in organic light emitting diode (OLED) technology, has been enjoying growing support from institutional investors. Some of the most notable players include Renaissance Technologies LLC, which raised its Universal Display’s holdings by 40.3% during the third quarter of 2022 and now owns 485,639 shares valued at $45.8m after purchasing an additional 139,566 shares. Another significant player is Macquarie Group Ltd., which increased its holdings in Universal Display by 1.3% to own 887,666 of the semiconductor company’s stock valued at $83.8m after acquiring an additional 11,070 shares.
Furthermore, other companies that have made some changes to their positions in Universal Display are Endurance Wealth Management Inc., Great West Life Assurance Co.Can, and Kornitzer Capital Management Inc.KS. These companies have been positioning themselves strategically to realize meaningful returns from an upward trending stock market.
Universal Display has reported impressive earnings results recently as the semiconductor company posted a stronger-than-expected Q4 results while giving promising guidance for future growth momentum. The company’s Q4 earnings per share was reported as $1.36 compared to analysts’ consensus estimate of $0.93 — this is quite impressive coupled with the fact that it increased revenue by a whopping 15.6% year-over-year up to $169m during this period last year.
In addition to its stellar performance in recent quarters, Universal Display has also announced another increase in quarterly dividend payments from $0.30 per share previously paid out to stakeholders in Q4 of last year to a new payout of $0.35 per share distributed on March 31st.
With so much happening with Universal Display over the past months – including various equity research reports going public endorsing buying only its stocks or advising keeping moderate buy status- all eyes will be firmly fixed on the company’s next financial report to see if it can keep this trend of growth going. It will be interesting to watch how Universal Display’s market position and stock value changes over the next few quarters.