Analog Century Management LP Purchases New Position in Universal Display Corporation $OLED

Analog Century Management LP purchased a new stake in shares of Universal Display Corporation (NASDAQ:OLED) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 401,726 shares of the semiconductor company’s stock, valued at approximately $46,914,000. Universal Display accounts for 2.3% of Analog Century Management LP’s portfolio, making the stock its 23rd biggest holding.

A number of other hedge funds also recently bought and sold shares of the business. Marshall Wace LLP grew its holdings in shares of Universal Display by 129.7% during the 4th quarter. Marshall Wace LLP now owns 144,387 shares of the semiconductor company’s stock worth $16,862,000 after acquiring an additional 81,522 shares during the period. Avenir Corp grew its holdings in shares of Universal Display by 6.5% during the 4th quarter. Avenir Corp now owns 230,181 shares of the semiconductor company’s stock worth $26,880,000 after acquiring an additional 14,136 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in shares of Universal Display by 3.3% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 28,213 shares of the semiconductor company’s stock worth $3,293,000 after acquiring an additional 907 shares during the period. Segall Bryant & Hamill LLC grew its holdings in shares of Universal Display by 16.6% during the 4th quarter. Segall Bryant & Hamill LLC now owns 297,886 shares of the semiconductor company’s stock worth $34,787,000 after acquiring an additional 42,431 shares during the period. Finally, UMB Bank n.a. grew its holdings in shares of Universal Display by 28.3% during the 4th quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company’s stock worth $64,000 after acquiring an additional 121 shares during the period. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Needham & Company LLC reduced their target price on Universal Display from $145.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, May 1st. The Goldman Sachs Group set a $135.00 target price on Universal Display in a report on Tuesday, April 21st. Zacks Research downgraded Universal Display from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Citigroup reduced their target price on Universal Display from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Finally, Wall Street Zen upgraded Universal Display from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Universal Display has a consensus rating of “Hold” and an average target price of $130.60.

Universal Display Trading Up 1.8%

OLED stock opened at $91.46 on Friday. The stock has a market capitalization of $4.28 billion, a PE ratio of 20.42 and a beta of 1.54. Universal Display Corporation has a 12-month low of $83.64 and a 12-month high of $162.36. The stock’s 50 day simple moving average is $93.14 and its 200 day simple moving average is $106.16.

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

Universal Display Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, June 16th. Universal Display’s dividend payout ratio is presently 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.