Polar Asset Management Partners Inc. Lowers Holdings in Universal Display Corporation $OLED

Polar Asset Management Partners Inc. decreased its stake in shares of Universal Display Corporation (NASDAQ:OLED) by 77.2% during the first quarter, Holdings Channel reports. The firm owned 55,358 shares of the semiconductor company’s stock after selling 187,546 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Universal Display were worth $5,074,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC bought a new stake in shares of Universal Display in the 3rd quarter worth about $33,000. Canada Pension Plan Investment Board purchased a new position in shares of Universal Display in the 2nd quarter valued at $62,000. RHL Group LLC purchased a new position in shares of Universal Display in the 4th quarter worth approximately $60,000. UMB Bank n.a. boosted its position in shares of Universal Display by 28.3% in the 4th quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company’s stock worth $64,000 after purchasing an additional 121 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of Universal Display during the fourth quarter worth about $75,000. Institutional investors own 78.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Needham & Company LLC cut their price objective on Universal Display from $145.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Roth Capital set a $168.00 target price on shares of Universal Display in a research note on Friday, May 1st. Oppenheimer decreased their target price on Universal Display from $160.00 to $130.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a report on Thursday, June 18th. Finally, The Goldman Sachs Group set a $135.00 target price on shares of Universal Display in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $130.60.

Universal Display Price Performance

Shares of NASDAQ:OLED opened at $79.27 on Monday. The firm has a market capitalization of $3.71 billion, a PE ratio of 17.69 and a beta of 1.54. Universal Display Corporation has a 1 year low of $77.15 and a 1 year high of $153.38. The firm’s 50-day moving average is $86.42 and its two-hundred day moving average is $98.50.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $0.76 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 analysts’ expectations of $161.23 million. Universal Display had a net margin of 34.08% and a return on equity of 12.34%. The company’s revenue for the quarter was down 14.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.35 EPS. Analysts expect 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 was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a dividend of $0.50 per share. 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 dividend payout ratio is 44.64%.

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.