Future Fund LLC grew its position in shares of Universal Display Corporation (NASDAQ:OLED – Free Report) by 74.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,741 shares of the semiconductor company’s stock after purchasing an additional 12,741 shares during the period. Future Fund LLC’s holdings in Universal Display were worth $2,726,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the company. Measured Wealth Private Client Group LLC purchased a new position in shares of Universal Display in the third quarter valued at $33,000. RHL Group LLC purchased a new stake in Universal Display during the 4th quarter worth $60,000. Canada Pension Plan Investment Board acquired a new position in Universal Display in the 2nd quarter worth $62,000. UMB Bank n.a. boosted its position in Universal Display by 28.3% in the 4th quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company’s stock valued at $64,000 after buying an additional 121 shares during the last quarter. Finally, Global X Japan Co. Ltd. boosted its position in Universal Display by 61.6% in the 4th quarter. Global X Japan Co. Ltd. now owns 580 shares of the semiconductor company’s stock valued at $68,000 after buying an additional 221 shares during the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
OLED has been the topic of a number of analyst reports. Citigroup dropped their target price on Universal Display from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Roth Capital set a $168.00 price target on Universal Display in a report on Friday, May 1st. Oppenheimer lowered their price objective on Universal Display from $160.00 to $130.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Universal Display in a report on Thursday, June 18th. Finally, Zacks Research lowered Universal Display from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $130.60.
Universal Display Price Performance
Shares of OLED stock opened at $80.18 on Friday. The firm has a fifty day moving average of $87.52 and a two-hundred day moving average of $100.00. The firm has a market cap of $3.75 billion, a P/E ratio of 17.90 and a beta of 1.54. Universal Display Corporation has a 1-year low of $77.15 and a 1-year high of $154.07.
Universal Display (NASDAQ:OLED – Get Free Report) last issued its earnings results on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.37). Universal Display had a net margin of 34.08% and a return on equity of 12.34%. The company had revenue of $142.21 million during the quarter, compared to analyst estimates of $161.23 million. During the same quarter last year, the company posted $1.35 EPS. The business’s revenue for the quarter was down 14.5% compared to the same quarter last year. On average, sell-side analysts expect that Universal Display Corporation will post 4.23 EPS for the current year.
Universal Display Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 2.5%. Universal Display’s dividend payout ratio is presently 44.64%.
Universal Display Company Profile
Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.
Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.
See Also
- Five stocks we like better than Universal Display
- AST SpaceMobile Stock Sinks as SpaceX Fallout Rattles Space Sector
- Aehr Test Systems Stock Soars on Earnings, Eyes Over 150% Revenue Growth
- TSMC Just Gave AI Chip Bulls Another Reason to Stay Confident
- GE Aerospace Faces a Prove-It Moment in Q2 Earnings
Want to see what other hedge funds are holding OLED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Display Corporation (NASDAQ:OLED – Free Report).
Receive News & Ratings for Universal Display Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Display and related companies with MarketBeat.com's FREE daily email newsletter.
