Rice Hall James & Associates LLC bought a new position in Universal Display Corporation (NASDAQ:OLED – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 30,023 shares of the semiconductor company’s stock, valued at approximately $2,600,000.
A number of other large investors have also recently made changes to their positions in OLED. Measured Wealth Private Client Group LLC bought a new position in Universal Display during the 3rd quarter valued at about $33,000. Canada Pension Plan Investment Board purchased a new stake in Universal Display in the 2nd quarter worth about $62,000. RHL Group LLC bought a new stake in Universal Display in the fourth quarter worth about $60,000. UMB Bank n.a. lifted its stake in Universal Display by 28.3% in the fourth quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company’s stock worth $64,000 after purchasing an additional 121 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Universal Display during the fourth quarter valued at approximately $75,000. 78.19% of the stock is owned by hedge funds and other institutional investors.
Universal Display Trading Down 2.5%
Shares of OLED stock opened at $84.45 on Wednesday. Universal Display Corporation has a twelve month low of $76.42 and a twelve month high of $153.38. The stock has a fifty day simple moving average of $84.60 and a two-hundred day simple moving average of $94.37. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 20.45 and a beta of 1.54.
Universal Display Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, September 16th. Universal Display’s dividend payout ratio is presently 48.43%.
Analysts Set New Price Targets
A number of research firms have recently commented on OLED. Citigroup cut their target price on Universal Display from $100.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. Zacks Research raised Universal Display from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. BTIG Research cut Universal Display to a “neutral” rating in a report on Friday, July 31st. The Goldman Sachs Group set a $135.00 price objective on Universal Display in a research report on Tuesday, April 21st. Finally, Needham & Company LLC reduced their target price on Universal Display from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $116.33.
View Our Latest Stock Analysis on OLED
About Universal Display
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.
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