Mutual of America Capital Management LLC Sells 972 Shares of Universal Display Co. (NASDAQ:OLED)

Mutual of America Capital Management LLC lessened its holdings in Universal Display Co. (NASDAQ:OLED) by 3.7% in the second quarter, Holdings Channel reports. The institutional investor owned 24,989 shares of the semiconductor company’s stock after selling 972 shares during the period. Mutual of America Capital Management LLC’s holdings in Universal Display were worth $5,254,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Universal Display by 1.1% in the first quarter. Vanguard Group Inc. now owns 4,567,374 shares of the semiconductor company’s stock valued at $769,374,000 after purchasing an additional 50,233 shares during the period. Primecap Management Co. CA increased its stake in shares of Universal Display by 0.4% in the second quarter. Primecap Management Co. CA now owns 1,895,017 shares of the semiconductor company’s stock valued at $398,427,000 after buying an additional 7,435 shares during the period. Norges Bank bought a new position in shares of Universal Display during the fourth quarter worth about $101,088,000. Dimensional Fund Advisors LP lifted its stake in shares of Universal Display by 27.3% in the second quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company’s stock worth $98,725,000 after acquiring an additional 100,809 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Universal Display by 20.7% in the fourth quarter. First Trust Advisors LP now owns 449,628 shares of the semiconductor company’s stock valued at $85,996,000 after acquiring an additional 76,967 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OLED has been the subject of several analyst reports. Susquehanna raised their price target on shares of Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. The Goldman Sachs Group boosted their target price on shares of Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Oppenheimer increased their price target on Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, July 3rd. TD Cowen boosted their price objective on Universal Display from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC raised their target price on Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $225.88.

Universal Display Stock Performance

Shares of NASDAQ:OLED opened at $211.44 on Friday. The firm has a market cap of $10.03 billion, a P/E ratio of 45.84, a PEG ratio of 2.17 and a beta of 1.41. Universal Display Co. has a 52-week low of $133.67 and a 52-week high of $237.00. The business’s 50 day simple moving average is $198.88 and its two-hundred day simple moving average is $185.34.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). Universal Display had a return on equity of 15.25% and a net margin of 35.74%. The firm had revenue of $158.50 million during the quarter, compared to the consensus estimate of $159.46 million. During the same quarter in the prior year, the business earned $1.04 earnings per share. Universal Display’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities analysts forecast that Universal Display Co. will post 4.81 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Monday, September 16th. Universal Display’s payout ratio is presently 34.78%.

About Universal Display

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.