Universal Display Co. (NASDAQ:OLED) Shares Acquired by Red Spruce Capital LLC

Red Spruce Capital LLC grew its stake in Universal Display Co. (NASDAQ:OLED) by 7.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,971 shares of the semiconductor company’s stock after buying an additional 825 shares during the period. Red Spruce Capital LLC’s holdings in Universal Display were worth $2,513,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Universal Display in the 2nd quarter worth $127,668,000. Janus Henderson Group PLC raised its stake in shares of Universal Display by 66.6% in the first quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock worth $73,099,000 after purchasing an additional 173,496 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Universal Display in the second quarter worth about $34,558,000. Strategic Financial Concepts LLC acquired a new stake in shares of Universal Display during the second quarter worth about $23,500,000. Finally, Dimensional Fund Advisors LP boosted its position in Universal Display by 27.3% in the second quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company’s stock valued at $98,725,000 after buying an additional 100,809 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Price Performance

Universal Display stock traded up $3.59 during midday trading on Friday, reaching $211.71. The company had a trading volume of 417,203 shares, compared to its average volume of 361,696. Universal Display Co. has a 12-month low of $133.67 and a 12-month high of $237.00. The company has a market capitalization of $10.04 billion, a P/E ratio of 46.02, a P/E/G ratio of 2.22 and a beta of 1.42. The firm’s fifty day simple moving average is $195.11 and its 200-day simple moving average is $188.60.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). The business had revenue of $158.50 million for the quarter, compared to analysts’ expectations of $159.46 million. Universal Display had a return on equity of 15.25% and a net margin of 35.74%. Universal Display’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.04 EPS. On average, analysts expect that Universal Display Co. will post 4.81 EPS for the current fiscal year.

Universal Display Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 0.76%. Universal Display’s payout ratio is 34.78%.

Analyst Upgrades and Downgrades

OLED has been the subject of several research reports. The Goldman Sachs Group lifted 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. Roth Mkm increased their price target on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Needham & Company LLC boosted their price objective on Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Susquehanna raised their target price on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Oppenheimer boosted their price target on Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, July 3rd. 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.