Intech Investment Management LLC Purchases 6,750 Shares of Universal Display Co. (NASDAQ:OLED)

Intech Investment Management LLC raised its position in Universal Display Co. (NASDAQ:OLED) by 272.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,229 shares of the semiconductor company’s stock after purchasing an additional 6,750 shares during the quarter. Intech Investment Management LLC’s holdings in Universal Display were worth $1,940,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Peapack Gladstone Financial Corp raised its position in Universal Display by 1.8% in the 4th quarter. Peapack Gladstone Financial Corp now owns 3,367 shares of the semiconductor company’s stock valued at $643,000 after buying an additional 60 shares during the last quarter. Red Spruce Capital LLC lifted its position in shares of Universal Display by 0.7% in the second quarter. Red Spruce Capital LLC now owns 11,146 shares of the semiconductor company’s stock worth $2,343,000 after purchasing an additional 76 shares in the last quarter. 1492 Capital Management LLC boosted its holdings in Universal Display by 0.8% during the fourth quarter. 1492 Capital Management LLC now owns 9,543 shares of the semiconductor company’s stock worth $1,825,000 after purchasing an additional 79 shares during the last quarter. CIBC Asset Management Inc grew its position in Universal Display by 7.6% in the second quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company’s stock valued at $284,000 after purchasing an additional 96 shares in the last quarter. Finally, Bahl & Gaynor Inc. increased its stake in Universal Display by 0.5% in the 1st quarter. Bahl & Gaynor Inc. now owns 18,645 shares of the semiconductor company’s stock valued at $3,141,000 after buying an additional 101 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors.

Universal Display Price Performance

OLED stock opened at $212.93 on Tuesday. The stock has a market cap of $10.10 billion, a price-to-earnings ratio of 46.29, a price-to-earnings-growth ratio of 2.17 and a beta of 1.41. The company has a fifty day moving average price of $198.26 and a two-hundred day moving average price of $186.12. Universal Display Co. has a one year low of $133.67 and a one year high of $237.00.

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

Universal Display Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Monday, September 16th. Universal Display’s dividend payout ratio is 34.78%.

Wall Street Analyst Weigh In

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