Edgestream Partners L.P. Acquires New Holdings in Universal Display Co. (NASDAQ:OLED)

Edgestream Partners L.P. bought a new position in shares of Universal Display Co. (NASDAQ:OLED) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,389 shares of the semiconductor company’s stock, valued at approximately $1,554,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Principal Securities Inc. bought a new stake in Universal Display during the 4th quarter worth $34,000. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Universal Display by 8.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,565 shares of the semiconductor company’s stock worth $299,000 after purchasing an additional 117 shares during the last quarter. Avantax Advisory Services Inc. bought a new stake in shares of Universal Display during the fourth quarter worth about $210,000. Brown Advisory Inc. increased its stake in shares of Universal Display by 7.0% in the fourth quarter. Brown Advisory Inc. now owns 1,736 shares of the semiconductor company’s stock valued at $332,000 after buying an additional 114 shares during the period. Finally, Norges Bank bought a new position in Universal Display in the 4th quarter valued at approximately $101,088,000. Institutional investors own 78.19% of the company’s stock.

Universal Display Price Performance

Shares of NASDAQ:OLED opened at $210.85 on Friday. Universal Display Co. has a 1 year low of $133.67 and a 1 year high of $237.00. The business’s 50-day moving average is $199.11 and its 200-day moving average is $185.16. The company has a market capitalization of $10.00 billion, a price-to-earnings ratio of 46.00, 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 (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.04). The business 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%. Universal Display’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $1.04 earnings per share. Analysts anticipate that Universal Display Co. will post 4.81 EPS for the current year.

Universal Display Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 0.76%. The ex-dividend date is Monday, September 16th. Universal Display’s dividend payout ratio is presently 34.78%.

Analysts Set New Price Targets

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