QRG Capital Management Inc. Makes New $225,000 Investment in Universal Display Corporation $OLED

QRG Capital Management Inc. bought a new position in Universal Display Corporation (NASDAQ:OLED) during the 2nd quarter, Holdings Channel.com reports. The fund bought 1,454 shares of the semiconductor company’s stock, valued at approximately $225,000.

Several other institutional investors and hedge funds have also bought and sold shares of OLED. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Universal Display by 73.8% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,407,846 shares of the semiconductor company’s stock worth $614,806,000 after buying an additional 1,871,333 shares during the period. Brown Advisory Inc. bought a new position in shares of Universal Display in the first quarter worth about $72,327,000. FengHe Fund Management Pte. Ltd. bought a new position in shares of Universal Display in the first quarter worth about $41,147,000. Raymond James Financial Inc. raised its stake in shares of Universal Display by 64.4% in the first quarter. Raymond James Financial Inc. now owns 466,612 shares of the semiconductor company’s stock worth $65,083,000 after buying an additional 182,730 shares during the period. Finally, Segall Bryant & Hamill LLC raised its stake in shares of Universal Display by 134.1% in the first quarter. Segall Bryant & Hamill LLC now owns 213,004 shares of the semiconductor company’s stock worth $29,710,000 after buying an additional 121,998 shares during the period. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Trading Down 3.3%

Shares of OLED opened at $137.40 on Monday. The business’s 50 day moving average is $141.64 and its 200 day moving average is $142.34. The company has a market capitalization of $6.53 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 4.03 and a beta of 1.55. Universal Display Corporation has a 12-month low of $103.70 and a 12-month high of $214.57.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, July 31st. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.23. The company had revenue of $171.79 million for the quarter, compared to the consensus estimate of $161.58 million. Universal Display had a return on equity of 15.82% and a net margin of 36.95%.The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned $1.10 EPS. Universal Display has set its FY 2025 guidance at EPS. Equities research analysts predict that Universal Display Corporation will post 4.71 earnings per share for the current year.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, September 16th. Universal Display’s dividend payout ratio (DPR) is 35.16%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OLED. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Universal Display in a research note on Wednesday, October 8th. Zacks Research downgraded Universal Display from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $190.43.

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.