Edgestream Partners L.P. Acquires New Shares in Universal Display Corporation $OLED

Edgestream Partners L.P. acquired a new position in Universal Display Corporation (NASDAQ:OLED) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 10,574 shares of the semiconductor company’s stock, valued at approximately $969,000.

Other hedge funds have also bought and sold shares of the company. Lido Advisors LLC lifted its stake in Universal Display by 1.7% during the 3rd quarter. Lido Advisors LLC now owns 5,783 shares of the semiconductor company’s stock valued at $831,000 after acquiring an additional 95 shares during the period. Sigma Planning Corp boosted its holdings in shares of Universal Display by 1.0% during the 4th quarter. Sigma Planning Corp now owns 10,390 shares of the semiconductor company’s stock valued at $1,210,000 after acquiring an additional 103 shares during the last quarter. Certuity LLC grew its stake in shares of Universal Display by 4.3% in the third quarter. Certuity LLC now owns 2,556 shares of the semiconductor company’s stock worth $367,000 after acquiring an additional 105 shares during the period. U.S. Capital Wealth Advisors LLC grew its stake in shares of Universal Display by 2.8% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 3,869 shares of the semiconductor company’s stock worth $452,000 after acquiring an additional 107 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Universal Display by 5.7% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,999 shares of the semiconductor company’s stock valued at $287,000 after purchasing an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Stock Up 8.1%

NASDAQ OLED opened at $86.22 on Wednesday. Universal Display Corporation has a 52 week low of $76.42 and a 52 week high of $153.38. The firm has a market capitalization of $3.96 billion, a P/E ratio of 20.88 and a beta of 1.54. The company has a 50-day moving average price of $85.01 and a 200-day moving average price of $96.39.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. The company had revenue of $152.16 million for the quarter, compared to the consensus estimate of $157.54 million. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The firm’s revenue was down 11.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.41 earnings per share. As a group, equities research analysts anticipate that Universal Display Corporation will post 4.18 EPS for the current year.

Universal Display Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a $0.50 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 annualized dividend and a yield of 2.3%. Universal Display’s dividend payout ratio (DPR) is presently 48.43%.

Wall Street Analyst Weigh In

OLED has been the topic of a number of research analyst reports. Susquehanna lowered their price objective on shares of Universal Display from $110.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Weiss Ratings downgraded shares of Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Zacks Research lowered shares of Universal Display from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Roth Capital set a $168.00 price target on Universal Display in a report on Friday, May 1st. Finally, BTIG Research cut Universal Display to a “neutral” rating in a report on Friday. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Universal Display currently has a consensus rating of “Hold” and a consensus target price of $116.33.

Universal Display 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.