Y Intercept Hong Kong Ltd Acquires Shares of 70,238 Universal Display Corporation $OLED

Y Intercept Hong Kong Ltd acquired a new position in shares of Universal Display Corporation (NASDAQ:OLED) during the 1st quarter, Holdings Channel reports. The firm acquired 70,238 shares of the semiconductor company’s stock, valued at approximately $6,438,000.

A number of other institutional investors also recently made changes to their positions in the business. Measured Wealth Private Client Group LLC purchased a new position in shares of Universal Display during the 3rd quarter valued at approximately $33,000. Canada Pension Plan Investment Board acquired a new stake in Universal Display in the second quarter valued at $62,000. RHL Group LLC acquired a new stake in Universal Display in the fourth quarter valued at $60,000. UMB Bank n.a. boosted its stake in Universal Display by 28.3% during the 4th quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company’s stock valued at $64,000 after acquiring an additional 121 shares during the last quarter. Finally, Global X Japan Co. Ltd. boosted its stake in Universal Display by 61.6% during the 4th quarter. Global X Japan Co. Ltd. now owns 580 shares of the semiconductor company’s stock valued at $68,000 after acquiring an additional 221 shares during the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OLED has been the subject of several research analyst reports. Citigroup dropped their target price on shares of Universal Display from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Zacks Research cut shares of Universal Display from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Oppenheimer decreased their price target on Universal Display from $160.00 to $130.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Needham & Company LLC lowered their price objective on Universal Display from $145.00 to $120.00 and set a “buy” rating for the company in a report on Friday, May 1st. Finally, The Goldman Sachs Group set a $135.00 price objective on Universal Display in a report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Universal Display has a consensus rating of “Hold” and a consensus price target of $130.60.

Universal Display Stock Performance

Shares of Universal Display stock opened at $78.70 on Friday. The business’s 50 day simple moving average is $90.31 and its 200-day simple moving average is $102.67. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 17.57 and a beta of 1.54. Universal Display Corporation has a twelve month low of $77.15 and a twelve month high of $162.36.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.37). Universal Display had a return on equity of 12.34% and a net margin of 34.08%.The company had revenue of $142.21 million during the quarter, compared to the consensus estimate of $161.23 million. During the same period last year, the business posted $1.35 EPS. The company’s revenue for the quarter was down 14.5% on a year-over-year basis. Sell-side analysts predict that Universal Display Corporation will post 4.23 earnings per share for the current year.

Universal Display Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Tuesday, June 16th. Universal Display’s dividend payout ratio (DPR) is presently 44.64%.

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.