Pallas Capital Advisors LLC Buys Shares of 1,654 Universal Display Co. (NASDAQ:OLED)

Pallas Capital Advisors LLC bought a new stake in Universal Display Co. (NASDAQ:OLED) during the 3rd quarter, HoldingsChannel reports. The fund bought 1,654 shares of the semiconductor company’s stock, valued at approximately $333,000.

Other hedge funds have also recently bought and sold shares of the company. SageView Advisory Group LLC bought a new position in Universal Display in the 1st quarter valued at about $1,179,000. Montag A & Associates Inc. grew its holdings in shares of Universal Display by 28.9% during the 1st quarter. Montag A & Associates Inc. now owns 11,848 shares of the semiconductor company’s stock valued at $1,996,000 after purchasing an additional 2,655 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Universal Display by 172.0% during the 1st quarter. Tidal Investments LLC now owns 6,246 shares of the semiconductor company’s stock valued at $1,052,000 after purchasing an additional 3,950 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Universal Display during the 1st quarter valued at approximately $1,001,000. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Universal Display by 375.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,043 shares of the semiconductor company’s stock valued at $2,112,000 after purchasing an additional 7,929 shares during the last quarter. 78.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OLED. Oppenheimer decreased their price target on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday. Roth Mkm lifted their price target on shares of Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a report on Friday, August 2nd. TD Cowen cut their target price on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday. Needham & Company LLC cut their target price on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, The Goldman Sachs Group lifted their target price on shares of Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Two investment 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.63.

Universal Display Stock Performance

Shares of NASDAQ OLED opened at $180.32 on Friday. The company has a market capitalization of $8.56 billion, a P/E ratio of 36.21, a price-to-earnings-growth ratio of 2.16 and a beta of 1.42. Universal Display Co. has a 52-week low of $133.67 and a 52-week high of $237.00. The company’s 50 day moving average price is $201.79 and its 200-day moving average price is $193.89.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. The firm had revenue of $161.63 million for the quarter, compared to the consensus estimate of $165.28 million. Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.08 EPS. Analysts forecast that Universal Display Co. will post 4.81 earnings per share for the current year.

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.