Magnetar Financial LLC Makes New $2.42 Million Investment in Universal Display Corporation $OLED

Magnetar Financial LLC purchased a new stake in shares of Universal Display Corporation (NASDAQ:OLED) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,661 shares of the semiconductor company’s stock, valued at approximately $2,419,000.

Other large investors have also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Universal Display by 73.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,407,846 shares of the semiconductor company’s stock valued at $614,806,000 after acquiring an additional 1,871,333 shares during the period. Primecap Management Co. CA increased its stake in Universal Display by 20.7% in the 2nd quarter. Primecap Management Co. CA now owns 2,215,308 shares of the semiconductor company’s stock worth $342,176,000 after purchasing an additional 379,586 shares during the period. FengHe Fund Management Pte. Ltd. bought a new stake in Universal Display in the first quarter valued at approximately $41,147,000. Tredje AP fonden purchased a new stake in shares of Universal Display during the second quarter valued at approximately $30,519,000. Finally, Raymond James Financial Inc. grew its holdings 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 purchasing an additional 182,730 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Stock Up 4.7%

NASDAQ:OLED opened at $113.73 on Friday. The firm’s fifty day simple moving average is $138.35 and its 200 day simple moving average is $144.78. The stock has a market cap of $5.41 billion, a P/E ratio of 22.21, a price-to-earnings-growth ratio of 4.38 and a beta of 1.60. Universal Display Corporation has a twelve month low of $103.70 and a twelve month high of $173.45.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, November 6th. The semiconductor company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.27). The company had revenue of $139.61 million during the quarter, compared to analysts’ expectations of $165.56 million. Universal Display had a return on equity of 15.82% and a net margin of 36.95%.The business’s quarterly revenue was down 13.6% on a year-over-year basis. During the same quarter last year, the business earned $1.40 earnings per share. Universal Display has set its FY 2025 guidance at EPS. On average, analysts expect that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, December 17th. This represents a $1.80 annualized dividend and a dividend yield of 1.6%. Universal Display’s payout ratio is currently 38.79%.

Wall Street Analyst Weigh In

OLED has been the subject of a number of recent analyst reports. Zacks Research lowered shares of Universal Display from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Needham & Company LLC decreased their price objective on shares of Universal Display from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Universal Display in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Universal Display currently has an average rating of “Moderate Buy” and a consensus target price of $181.33.

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.