State of Wyoming Makes New $695,000 Investment in Universal Display Corporation $OLED

State of Wyoming acquired a new stake in Universal Display Corporation (NASDAQ:OLED) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,023 shares of the semiconductor company’s stock, valued at approximately $695,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Measured Wealth Private Client Group LLC purchased a new position in shares of Universal Display during the 3rd quarter valued at approximately $33,000. RHL Group LLC purchased a new stake in Universal Display in the 4th quarter worth $60,000. Canada Pension Plan Investment Board purchased a new stake in Universal Display in the 2nd quarter worth $62,000. UMB Bank n.a. increased its holdings in Universal Display by 28.3% in the 4th quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company’s stock worth $64,000 after acquiring an additional 121 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in Universal Display during the fourth quarter worth $75,000. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OLED has been the topic of several recent analyst reports. Needham & Company LLC decreased their price objective on shares of Universal Display from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Weiss Ratings cut shares of Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Oppenheimer restated an “outperform” rating and set a $120.00 price target (down from $130.00) on shares of Universal Display in a research report on Friday, July 31st. The Goldman Sachs Group set a $135.00 price target on shares of Universal Display in a research note on Tuesday, April 21st. Finally, Zacks Research upgraded Universal Display from a “strong sell” rating to a “hold” rating in a report on Thursday. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $116.33.

Universal Display Stock Performance

Shares of OLED stock opened at $88.92 on Monday. The stock’s fifty day moving average is $84.74 and its two-hundred day moving average is $94.82. The firm has a market capitalization of $4.09 billion, a P/E ratio of 21.53 and a beta of 1.54. Universal Display Corporation has a fifty-two week low of $76.42 and a fifty-two week high of $153.38.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.03. The company had revenue of $152.16 million for the quarter, compared to analysts’ expectations of $157.54 million. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The firm’s quarterly revenue was down 11.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.41 EPS. On average, equities analysts forecast that Universal Display Corporation will post 4.18 earnings per share for the current year.

Universal Display Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. Universal Display’s payout ratio is presently 48.43%.

About Universal Display

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.