Red Spruce Capital LLC Buys 13,610 Shares of Universal Display Corporation $OLED

Red Spruce Capital LLC grew its stake in Universal Display Corporation (NASDAQ:OLED) by 119.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,968 shares of the semiconductor company’s stock after buying an additional 13,610 shares during the quarter. Red Spruce Capital LLC owned approximately 0.05% of Universal Display worth $2,162,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Universal Display in the 4th quarter worth approximately $92,756,000. JPMorgan Chase & Co. boosted its position in shares of Universal Display by 86.4% in the fourth quarter. JPMorgan Chase & Co. now owns 880,678 shares of the semiconductor company’s stock worth $102,846,000 after purchasing an additional 408,315 shares during the period. Analog Century Management LP bought a new position in shares of Universal Display in the fourth quarter worth approximately $46,914,000. UBS Group AG increased its stake in shares of Universal Display by 100.8% in the fourth quarter. UBS Group AG now owns 646,787 shares of the semiconductor company’s stock worth $75,532,000 after purchasing an additional 324,677 shares in the last quarter. Finally, XXEC Inc. increased its stake in shares of Universal Display by 489.3% in the first quarter. XXEC Inc. now owns 386,937 shares of the semiconductor company’s stock worth $35,467,000 after purchasing an additional 321,276 shares in the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Stock Up 1.5%

Shares of OLED stock opened at $87.25 on Friday. The company’s fifty day simple moving average is $84.75 and its two-hundred day simple moving average is $95.94. Universal Display Corporation has a 52 week low of $76.42 and a 52 week high of $153.38. The stock has a market cap of $4.01 billion, a P/E ratio of 21.13 and a beta of 1.54.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.03. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The firm had revenue of $152.16 million during the quarter, compared to analyst estimates of $157.54 million. During the same quarter last year, the business posted $1.41 earnings per share. The business’s quarterly revenue was down 11.4% compared to the same quarter last year. On average, analysts anticipate that Universal Display Corporation will post 4.18 EPS for the current fiscal year.

Universal Display Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. Universal Display’s payout ratio is presently 48.43%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on OLED shares. Weiss Ratings cut shares of Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Roth Capital set a $168.00 price target on Universal Display in a report on Friday, May 1st. Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 price objective (down from $130.00) on shares of Universal Display in a research note on Friday, July 31st. Susquehanna lowered their price target on Universal Display from $110.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Finally, Needham & Company LLC dropped their price target on Universal Display from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $116.33.

Universal Display 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.