Lecap Asset Management Ltd. Makes New $908,000 Investment in Universal Display Corporation $OLED

Lecap Asset Management Ltd. acquired a new position in Universal Display Corporation (NASDAQ:OLED) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 7,779 shares of the semiconductor company’s stock, valued at approximately $908,000.

Several other hedge funds and other institutional investors have also bought and sold shares of OLED. Vanguard Group Inc. raised its stake in Universal Display by 10.0% in the 3rd quarter. Vanguard Group Inc. now owns 5,069,107 shares of the semiconductor company’s stock worth $728,076,000 after purchasing an additional 460,792 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new stake in Universal Display in the 3rd quarter worth about $32,962,000. Rafferty Asset Management LLC raised its stake in Universal Display by 63.2% in the 2nd quarter. Rafferty Asset Management LLC now owns 574,161 shares of the semiconductor company’s stock worth $88,685,000 after purchasing an additional 222,327 shares in the last quarter. Bank of America Corp DE raised its stake in Universal Display by 58.8% in the 2nd quarter. Bank of America Corp DE now owns 447,993 shares of the semiconductor company’s stock worth $69,197,000 after purchasing an additional 165,939 shares in the last quarter. Finally, Gotham Asset Management LLC increased its holdings in Universal Display by 88.1% in the 3rd quarter. Gotham Asset Management LLC now owns 185,829 shares of the semiconductor company’s stock valued at $26,691,000 after buying an additional 87,049 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Universal Display in a report on Monday, March 23rd. Needham & Company LLC decreased their target price on shares of Universal Display from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Citigroup decreased their target price on shares of Universal Display from $130.00 to $105.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Roth Mkm reissued a “buy” rating and issued a $180.00 target price on shares of Universal Display in a report on Friday, February 20th. Finally, Wall Street Zen raised shares of Universal Display from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $143.33.

Universal Display Trading Up 0.2%

Shares of Universal Display stock opened at $99.55 on Friday. The firm has a market capitalization of $4.69 billion, a PE ratio of 19.64, a price-to-earnings-growth ratio of 8.04 and a beta of 1.65. The firm’s 50 day moving average is $102.07 and its 200 day moving average is $117.98. Universal Display Corporation has a 1 year low of $86.43 and a 1 year high of $163.21.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, February 19th. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.11. The company had revenue of $172.93 million for the quarter, compared to analyst estimates of $173.35 million. Universal Display had a net margin of 37.21% and a return on equity of 14.07%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 EPS. As a group, research analysts anticipate that Universal Display Corporation will post 4.71 earnings per share for the current year.

Universal Display Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, March 17th. This represents a $2.00 annualized dividend and a yield of 2.0%. This is a boost from Universal Display’s previous quarterly dividend of $0.45. Universal Display’s dividend payout ratio is 39.45%.

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.