Inspire Investing LLC Has $350,000 Stock Holdings in Universal Display Co. (NASDAQ:OLED)

Inspire Investing LLC lessened its stake in shares of Universal Display Co. (NASDAQ:OLED) by 21.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,664 shares of the semiconductor company’s stock after selling 443 shares during the quarter. Inspire Investing LLC’s holdings in Universal Display were worth $350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. CloudAlpha Capital Management Limited Hong Kong acquired a new position in Universal Display during the second quarter valued at approximately $34,558,000. Vanguard Personalized Indexing Management LLC grew its holdings in Universal Display by 3.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,344 shares of the semiconductor company’s stock valued at $1,124,000 after purchasing an additional 186 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Universal Display by 131.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 3,267 shares of the semiconductor company’s stock valued at $696,000 after purchasing an additional 1,857 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. acquired a new position in Universal Display during the second quarter valued at approximately $231,000. Finally, Edgestream Partners L.P. acquired a new position in Universal Display during the second quarter valued at approximately $1,554,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OLED. Needham & Company LLC increased their price objective on Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Roth Mkm increased their price objective on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Susquehanna increased their price objective on Universal Display from $170.00 to $175.00 and gave the company a “neutral” 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 company a “buy” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group increased their price objective on Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Universal Display has an average rating of “Moderate Buy” and a consensus price target of $225.88.

Universal Display Price Performance

Shares of OLED stock opened at $212.93 on Tuesday. The stock has a market cap of $10.10 billion, a P/E ratio of 46.29, a price-to-earnings-growth ratio of 2.17 and a beta of 1.41. Universal Display Co. has a one year low of $133.67 and a one year high of $237.00. The stock has a fifty day moving average price of $198.26 and a 200 day moving average price of $186.12.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.04). Universal Display had a return on equity of 15.25% and a net margin of 35.74%. The company had revenue of $158.50 million for the quarter, compared to analyst estimates of $159.46 million. During the same quarter in the prior year, the company earned $1.04 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that Universal Display Co. will post 4.81 EPS for the current year.

Universal Display Announces Dividend

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 paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.75%. Universal Display’s dividend payout ratio (DPR) is presently 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.