Renaissance Technologies LLC Purchases 14,400 Shares of Universal Display Co. (NASDAQ:OLED)

Renaissance Technologies LLC increased its position in Universal Display Co. (NASDAQ:OLED) by 55.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,439 shares of the semiconductor company’s stock after purchasing an additional 14,400 shares during the period. Renaissance Technologies LLC owned approximately 0.09% of Universal Display worth $8,502,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. ORG Partners LLC bought a new position in shares of Universal Display in the first quarter valued at $27,000. University of Texas Texas AM Investment Managment Co. bought a new position in Universal Display in the 4th quarter valued at about $35,000. Cape Investment Advisory Inc. boosted its stake in Universal Display by 1,977.8% during the 4th quarter. Cape Investment Advisory Inc. now owns 187 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 178 shares during the last quarter. Tsfg LLC purchased a new stake in shares of Universal Display in the first quarter worth approximately $34,000. Finally, Tortoise Investment Management LLC bought a new position in shares of Universal Display in the second quarter valued at approximately $47,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Universal Display Trading Up 0.7 %

Universal Display stock opened at $214.35 on Wednesday. The business’s 50 day simple moving average is $197.82 and its 200 day simple moving average is $186.43. Universal Display Co. has a 12 month low of $133.67 and a 12 month high of $237.00. The company has a market cap of $10.17 billion, a price-to-earnings ratio of 46.60, a PEG ratio of 2.17 and a beta of 1.41.

Universal Display (NASDAQ:OLED) last posted 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 return on equity of 15.25% and a net margin of 35.74%. The firm had revenue of $158.50 million for the quarter, compared to the consensus estimate of $159.46 million. During the same quarter in the previous year, the company posted $1.04 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. As a group, equities research analysts forecast that Universal Display Co. will post 4.81 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

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

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.