Algert Global LLC Raises Position in Universal Display Co. (NASDAQ:OLED)

Algert Global LLC lifted its stake in shares of Universal Display Co. (NASDAQ:OLED) by 118.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 44,735 shares of the semiconductor company’s stock after buying an additional 24,295 shares during the quarter. Algert Global LLC’s holdings in Universal Display were worth $9,406,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hsbc Holdings PLC lifted its position in shares of Universal Display by 13.5% during the fourth quarter. Hsbc Holdings PLC now owns 14,939 shares of the semiconductor company’s stock worth $2,861,000 after purchasing an additional 1,780 shares in the last quarter. Stifel Financial Corp boosted its position in Universal Display by 1.3% in the 4th quarter. Stifel Financial Corp now owns 41,599 shares of the semiconductor company’s stock valued at $7,956,000 after buying an additional 554 shares during the last quarter. Allianz Asset Management GmbH boosted its position in Universal Display by 99.6% in the 4th quarter. Allianz Asset Management GmbH now owns 9,657 shares of the semiconductor company’s stock valued at $1,847,000 after buying an additional 4,818 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of Universal Display by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 20,716 shares of the semiconductor company’s stock worth $3,962,000 after acquiring an additional 200 shares during the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Universal Display during the fourth quarter worth about $348,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on OLED shares. Roth Mkm raised their price objective on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Susquehanna increased their target price on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Oppenheimer lifted their price target on shares of Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 3rd. Needham & Company LLC upped their price target on shares of Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Finally, The Goldman Sachs Group raised 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. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Universal Display currently has an average rating of “Moderate Buy” and an average target price of $225.88.

Universal Display Stock Performance

Shares of NASDAQ:OLED opened at $205.89 on Friday. The company’s fifty day moving average is $196.91 and its two-hundred day moving average is $187.13. Universal Display Co. has a 1-year low of $133.67 and a 1-year high of $237.00. The stock has a market capitalization of $9.77 billion, a price-to-earnings ratio of 44.76, a price-to-earnings-growth ratio of 2.29 and a beta of 1.41.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share 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 business had revenue of $158.50 million for the quarter, compared to analyst estimates of $159.46 million. During the same quarter last year, the company earned $1.04 EPS. Universal Display’s revenue was up 8.1% compared to the same quarter last year. Sell-side analysts expect that Universal Display Co. will post 4.81 EPS for the current fiscal year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Monday, September 16th. Universal Display’s dividend payout ratio (DPR) is 34.78%.

Universal Display 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.