State of Wyoming Purchases New Stake in Universal Display Corporation $OLED

State of Wyoming acquired a new position in shares of Universal Display Corporation (NASDAQ:OLED) during the second quarter, HoldingsChannel.com reports. The firm acquired 8,023 shares of the semiconductor company’s stock, valued at approximately $695,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quantinno Capital Management LP raised its holdings in shares of Universal Display by 776.6% during the 1st quarter. Quantinno Capital Management LP now owns 251,218 shares of the semiconductor company’s stock worth $23,027,000 after acquiring an additional 222,561 shares during the period. Caxton Associates LLP grew its holdings in shares of Universal Display by 132.6% in the first quarter. Caxton Associates LLP now owns 43,818 shares of the semiconductor company’s stock valued at $4,016,000 after purchasing an additional 24,977 shares during the period. Systematic Financial Management LP grew its holdings in shares of Universal Display by 40.2% in the fourth quarter. Systematic Financial Management LP now owns 196,515 shares of the semiconductor company’s stock valued at $22,949,000 after purchasing an additional 56,320 shares during the period. Renaissance Technologies LLC acquired a new stake in Universal Display during the first quarter worth about $11,544,000. Finally, UBS Group AG increased its position in Universal Display by 100.8% during 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 during the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Stock Performance

Shares of NASDAQ:OLED opened at $88.92 on Monday. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 21.53 and a beta of 1.54. Universal Display Corporation has a 12-month low of $76.42 and a 12-month high of $153.38. The business has a 50-day moving average price of $84.74 and a 200 day moving average price of $94.82.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, July 30th. The semiconductor company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.03. The company had revenue of $152.16 million for the quarter, compared to analysts’ expectations of $157.54 million. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. Universal Display’s revenue for the quarter was down 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.41 earnings per share. As a group, equities research analysts predict that Universal Display Corporation will post 4.18 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 16th. Universal Display’s payout ratio is 48.43%.

Analyst Ratings Changes

Several research firms have weighed in on OLED. BTIG Research lowered shares of Universal Display to a “neutral” rating in a report on Friday, July 31st. Susquehanna cut their price target on shares of Universal Display from $110.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, July 31st. Oppenheimer reaffirmed an “outperform” rating and set a $120.00 price target (down from $130.00) on shares of Universal Display in a research report on Friday, July 31st. Zacks Research raised shares of Universal Display from a “strong sell” rating to a “hold” rating in a research report on Thursday. Finally, The Goldman Sachs Group set a $135.00 price objective on Universal Display in a report on Tuesday, April 21st. Three equities 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 stock. According to data from MarketBeat.com, Universal Display presently has a consensus rating of “Hold” and a consensus price target 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.