Mill Creek Capital Advisors LLC Grows Position in Universal Display Co. (NASDAQ:OLED)

Mill Creek Capital Advisors LLC grew its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,802 shares of the semiconductor company’s stock after acquiring an additional 154 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in Universal Display were worth $2,902,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of OLED. SageView Advisory Group LLC purchased a new position in Universal Display in the 1st quarter worth approximately $1,179,000. Weiss Asset Management LP purchased a new position in Universal Display in the fourth quarter worth $1,602,000. Montag A & Associates Inc. increased its stake in Universal Display by 28.9% in the first quarter. Montag A & Associates Inc. now owns 11,848 shares of the semiconductor company’s stock valued at $1,996,000 after acquiring an additional 2,655 shares during the last quarter. Tidal Investments LLC raised its position in Universal Display by 172.0% during the first quarter. Tidal Investments LLC now owns 6,246 shares of the semiconductor company’s stock valued at $1,052,000 after purchasing an additional 3,950 shares in the last quarter. Finally, Eisler Capital US LLC bought a new stake in Universal Display during the fourth quarter worth about $2,222,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Trading Up 0.7 %

Shares of OLED opened at $212.93 on Tuesday. Universal Display Co. has a 12 month low of $133.67 and a 12 month high of $237.00. The business’s fifty day simple moving average is $198.26 and its two-hundred day simple moving average is $186.12. The company has a market cap of $10.10 billion, a price-to-earnings ratio of 46.29, a P/E/G ratio of 2.17 and a beta of 1.41.

Universal Display (NASDAQ:OLED) last released its quarterly 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 for the quarter, compared to the consensus estimate of $159.46 million. During the same period in the previous year, the company earned $1.04 earnings per share. Universal Display’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, research analysts forecast that Universal Display Co. will post 4.81 EPS for the current year.

Universal Display Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. The Goldman Sachs Group upped their target price on Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Oppenheimer boosted their price target on shares of Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 3rd. Needham & Company LLC raised their price objective on Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. TD Cowen raised their price target on Universal Display from $210.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Susquehanna lifted their price target on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.88.

About Universal Display

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.