Intech Investment Management LLC Grows Position in Universal Display Corporation $OLED

Intech Investment Management LLC raised its position in Universal Display Corporation (NASDAQ:OLED) by 7.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 154,331 shares of the semiconductor company’s stock after acquiring an additional 10,963 shares during the quarter. Intech Investment Management LLC owned approximately 0.32% of Universal Display worth $18,023,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its holdings in shares of Universal Display by 309.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 209 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 158 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new position in shares of Universal Display during the third quarter worth $33,000. Jones Financial Companies Lllp increased its holdings in Universal Display by 104.2% in the third quarter. Jones Financial Companies Lllp now owns 388 shares of the semiconductor company’s stock valued at $58,000 after buying an additional 198 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Universal Display in the second quarter valued at $62,000. Finally, RHL Group LLC acquired a new stake in Universal Display in the fourth quarter valued at $60,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Stock Performance

OLED opened at $94.15 on Friday. Universal Display Corporation has a one year low of $83.64 and a one year high of $163.21. The stock has a market capitalization of $4.40 billion, a P/E ratio of 21.02 and a beta of 1.54. The business’s 50-day simple moving average is $93.80 and its 200-day simple moving average is $108.00.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.37). The firm had revenue of $142.21 million during the quarter, compared to analyst estimates of $161.23 million. Universal Display had a net margin of 34.08% and a return on equity of 12.34%. The firm’s revenue for the quarter was down 14.5% compared to the same quarter last year. During the same period last year, the company earned $1.35 earnings per share. On average, equities research analysts forecast that Universal Display Corporation will post 4.23 EPS for the current fiscal year.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, June 16th. Universal Display’s payout ratio is presently 44.64%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OLED. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Universal Display in a research report on Monday, March 23rd. The Goldman Sachs Group set a $135.00 target price on Universal Display in a research note on Tuesday, April 21st. Roth Mkm set a $168.00 price target on Universal Display in a report on Friday, May 1st. Oppenheimer dropped their price target on shares of Universal Display from $160.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Finally, Zacks Research downgraded shares of Universal Display from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $130.60.

Universal Display Company Profile

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.