Meiji Yasuda Asset Management Co Ltd. Invests $231,000 in Universal Display Co. (NASDAQ:OLED)

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Universal Display Co. (NASDAQ:OLED) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,099 shares of the semiconductor company’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Universal Display by 1.1% in the first quarter. Vanguard Group Inc. now owns 4,567,374 shares of the semiconductor company’s stock worth $769,374,000 after buying an additional 50,233 shares during the period. Primecap Management Co. CA lifted its position in Universal Display by 0.4% during the 2nd quarter. Primecap Management Co. CA now owns 1,895,017 shares of the semiconductor company’s stock worth $398,427,000 after acquiring an additional 7,435 shares in the last quarter. Norges Bank purchased a new position in Universal Display in the 4th quarter worth approximately $101,088,000. Dimensional Fund Advisors LP grew its position in Universal Display by 27.3% in the second quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company’s stock valued at $98,725,000 after acquiring an additional 100,809 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Universal Display by 20.7% during the fourth quarter. First Trust Advisors LP now owns 449,628 shares of the semiconductor company’s stock valued at $85,996,000 after purchasing an additional 76,967 shares during the period. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Stock Up 0.3 %

Shares of Universal Display stock opened at $211.44 on Friday. The business has a 50-day moving average price of $198.60 and a 200 day moving average price of $185.72. Universal Display Co. has a fifty-two week low of $133.67 and a fifty-two week high of $237.00. The firm has a market cap of $10.03 billion, a P/E ratio of 45.97, a P/E/G ratio of 2.17 and a beta of 1.41.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The firm had revenue of $158.50 million during the quarter, compared to the consensus estimate of $159.46 million. During the same quarter last year, the firm posted $1.04 earnings per share. Universal Display’s revenue was up 8.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Universal Display Co. will post 4.81 earnings per share for the current year.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.76%. Universal Display’s dividend payout ratio (DPR) is 34.78%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on OLED shares. Susquehanna upped their target price on shares of Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Roth Mkm raised their target price on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Oppenheimer boosted their price target on Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 3rd. TD Cowen raised their price objective on Universal Display from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC lifted their price objective on Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Universal Display currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.88.

Universal Display Company 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.