Clear Creek Financial Management LLC Increases Position in Universal Display Co. (NASDAQ:OLED)

Clear Creek Financial Management LLC raised its stake in shares of Universal Display Co. (NASDAQ:OLED) by 13.0% during the second quarter, HoldingsChannel reports. The fund owned 2,636 shares of the semiconductor company’s stock after acquiring an additional 303 shares during the quarter. Clear Creek Financial Management LLC’s holdings in Universal Display were worth $554,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of OLED. Norges Bank acquired a new stake in Universal Display during the fourth quarter worth about $101,088,000. Janus Henderson Group PLC lifted its holdings in Universal Display by 66.6% in the first quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock worth $73,099,000 after purchasing an additional 173,496 shares during the period. TimesSquare Capital Management LLC boosted its holdings in shares of Universal Display by 327.5% in the fourth quarter. TimesSquare Capital Management LLC now owns 198,899 shares of the semiconductor company’s stock valued at $38,041,000 after acquiring an additional 152,374 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Universal Display by 33.5% during the 1st quarter. Van ECK Associates Corp now owns 360,714 shares of the semiconductor company’s stock valued at $60,762,000 after purchasing an additional 90,530 shares during the period. Finally, First Trust Advisors LP grew its holdings in Universal Display by 20.7% during the fourth quarter. First Trust Advisors LP now owns 449,628 shares of the semiconductor company’s stock worth $85,996,000 after acquiring an additional 76,967 shares during the period. Institutional investors own 78.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on OLED shares. Roth Mkm increased their price target on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. TD Cowen increased their price objective on Universal Display from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. The Goldman Sachs Group upped their price objective on shares of Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Needham & Company LLC raised their target price on Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Finally, Oppenheimer upped their price target on Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 3rd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.88.

Universal Display Stock Performance

NASDAQ OLED opened at $194.12 on Monday. The stock has a 50-day simple moving average of $205.60 and a 200 day simple moving average of $183.29. Universal Display Co. has a twelve month low of $133.67 and a twelve month high of $237.00. The stock has a market capitalization of $9.21 billion, a PE ratio of 42.20, a P/E/G ratio of 2.04 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). The business had revenue of $158.50 million for the quarter, compared to analyst estimates of $159.46 million. Universal Display had a return on equity of 15.25% and a net margin of 35.74%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.04 earnings per share. As a group, equities research analysts forecast that Universal Display Co. will post 4.79 EPS for the current fiscal year.

Universal Display Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.40 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.60 annualized dividend and a yield of 0.82%. Universal Display’s dividend payout ratio is 34.78%.

Universal Display Company Profile

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.