Y Intercept Hong Kong Ltd Buys New Shares in Universal Display Corporation $OLED

Y Intercept Hong Kong Ltd bought a new position in shares of Universal Display Corporation (NASDAQ:OLED) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 70,238 shares of the semiconductor company’s stock, valued at approximately $6,438,000. Y Intercept Hong Kong Ltd owned 0.15% of Universal Display at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of Universal Display by 3.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 472,363 shares of the semiconductor company’s stock worth $67,846,000 after buying an additional 14,356 shares during the period. Aquatic Capital Management LLC boosted its holdings in Universal Display by 891.6% in the third quarter. Aquatic Capital Management LLC now owns 28,588 shares of the semiconductor company’s stock valued at $4,106,000 after acquiring an additional 25,705 shares during the last quarter. AI Squared Management Ltd purchased a new stake in Universal Display during the third quarter valued at about $5,515,000. Systematic Financial Management LP grew its position in Universal Display by 40.2% during the fourth quarter. Systematic Financial Management LP now owns 196,515 shares of the semiconductor company’s stock valued at $22,949,000 after acquiring an additional 56,320 shares during the period. Finally, Cinctive Capital Management LP acquired a new stake in Universal Display during the third quarter worth about $3,419,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OLED has been the topic of a number of research reports. Citigroup cut their price objective on Universal Display from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Needham & Company LLC decreased their target price on Universal Display from $145.00 to $120.00 and set a “buy” rating for the company in a report on Friday, May 1st. Oppenheimer dropped their target price on shares of Universal Display from $160.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. Roth Mkm set a $168.00 price target on shares of Universal Display in a report on Friday, May 1st. Finally, Zacks Research cut shares of Universal Display from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $130.60.

Universal Display Price Performance

OLED opened at $78.70 on Friday. The firm has a market capitalization of $3.68 billion, a P/E ratio of 17.57 and a beta of 1.54. The firm’s 50 day moving average is $90.31 and its 200-day moving average is $102.67. Universal Display Corporation has a 52-week low of $77.15 and a 52-week high of $162.36.

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

Universal Display Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a $0.50 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. Universal Display’s payout ratio is currently 44.64%.

About Universal Display

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.