Itau Unibanco Holding S.A. Acquires Shares of 207 Universal Display Co. (NASDAQ:OLED)

Itau Unibanco Holding S.A. bought a new position in shares of Universal Display Co. (NASDAQ:OLED) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 207 shares of the semiconductor company’s stock, valued at approximately $44,000.

A number of other institutional investors have also modified their holdings of the business. ProShare Advisors LLC grew its position in Universal Display by 117.2% during the 2nd quarter. ProShare Advisors LLC now owns 18,762 shares of the semiconductor company’s stock worth $3,945,000 after purchasing an additional 10,122 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Universal Display during the second quarter worth about $127,668,000. Sei Investments Co. increased its position in Universal Display by 25.7% in the 2nd quarter. Sei Investments Co. now owns 90,093 shares of the semiconductor company’s stock valued at $18,940,000 after acquiring an additional 18,404 shares during the period. Intech Investment Management LLC raised its stake in Universal Display by 272.3% during the 2nd quarter. Intech Investment Management LLC now owns 9,229 shares of the semiconductor company’s stock valued at $1,940,000 after acquiring an additional 6,750 shares during the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Universal Display in the 2nd quarter valued at approximately $34,558,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OLED has been the subject of several recent research reports. Susquehanna increased their price target on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Oppenheimer lifted their target price on shares of Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, July 3rd. Needham & Company LLC raised their price objective on shares of Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Roth Mkm boosted their target price on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group raised their price target on Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $225.88.

Universal Display Price Performance

Shares of NASDAQ:OLED opened at $211.44 on Monday. The business’s 50 day simple moving average is $198.60 and its 200-day simple moving average is $185.83. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of 45.97, a price-to-earnings-growth ratio of 2.17 and a beta of 1.41. Universal Display Co. has a 12 month low of $133.67 and a 12 month high of $237.00.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $159.46 million. During the same period last year, the company posted $1.04 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities analysts anticipate that Universal Display Co. will post 4.81 earnings per share for the current year.

Universal Display Dividend Announcement

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 given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Monday, September 16th. Universal Display’s payout ratio is currently 34.78%.

Universal Display 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.