Quantbot Technologies LP Acquires New Position in Universal Display Corporation $OLED

Quantbot Technologies LP acquired a new stake in Universal Display Corporation (NASDAQ:OLED) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 26,154 shares of the semiconductor company’s stock, valued at approximately $2,265,000.

A number of other institutional investors have also modified their holdings of the stock. XXEC Inc. bought a new position in Universal Display in the second quarter worth approximately $2,508,286,000. BlackRock Inc. purchased a new position in Universal Display during the 2nd quarter worth $373,931,000. State Street Corp raised its position in Universal Display by 4.3% during the 4th quarter. State Street Corp now owns 1,694,779 shares of the semiconductor company’s stock valued at $197,916,000 after purchasing an additional 69,163 shares in the last quarter. Geode Capital Management LLC raised its position in Universal Display by 25.0% during the 4th quarter. Geode Capital Management LLC now owns 1,109,077 shares of the semiconductor company’s stock valued at $129,537,000 after purchasing an additional 222,108 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Universal Display by 21.1% in the 1st quarter. First Trust Advisors LP now owns 976,423 shares of the semiconductor company’s stock worth $89,499,000 after buying an additional 169,969 shares during the period. 78.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on OLED. Citigroup dropped their price target on Universal Display from $100.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. Weiss Ratings downgraded Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Zacks Research raised shares of Universal Display from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Needham & Company LLC dropped their target price 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. Finally, Susquehanna cut their target price on shares of Universal Display from $110.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $116.33.

Universal Display Stock Down 1.3%

Universal Display stock opened at $84.71 on Tuesday. The firm has a market cap of $3.89 billion, a P/E ratio of 20.51 and a beta of 1.54. The business has a fifty day moving average of $84.23 and a two-hundred day moving average of $93.50. Universal Display Corporation has a twelve month low of $76.42 and a twelve month high of $153.38.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.03. The business had revenue of $152.16 million for the quarter, compared to the consensus estimate of $157.54 million. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The business’s revenue was down 11.4% compared to the same quarter last year. During the same period last year, the business posted $1.41 EPS. Equities analysts expect that Universal Display Corporation will post 4.17 earnings per share for the current year.

Universal Display Dividend Announcement

The business also recently disclosed 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 of this dividend is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. Universal Display’s dividend payout ratio (DPR) is presently 48.43%.

Universal Display Profile

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.