XXEC Inc. Acquires 321,276 Shares of Universal Display Corporation $OLED

XXEC Inc. lifted its holdings in shares of Universal Display Corporation (NASDAQ:OLED) by 489.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 386,937 shares of the semiconductor company’s stock after purchasing an additional 321,276 shares during the period. Universal Display accounts for about 7.0% of XXEC Inc.’s portfolio, making the stock its 6th biggest position. XXEC Inc. owned 0.82% of Universal Display worth $35,467,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC bought a new stake in Universal Display in the third quarter worth approximately $33,000. RHL Group LLC acquired a new stake in shares of Universal Display during the 4th quarter worth approximately $60,000. Canada Pension Plan Investment Board acquired a new stake in shares of Universal Display during the 2nd quarter worth approximately $62,000. UMB Bank n.a. increased its stake 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 valued at $64,000 after acquiring an additional 121 shares in the last quarter. Finally, Global X Japan Co. Ltd. increased its stake in shares of Universal Display by 61.6% in the 4th quarter. Global X Japan Co. Ltd. now owns 580 shares of the semiconductor company’s stock valued at $68,000 after acquiring an additional 221 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on OLED shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Universal Display in a research note on Thursday, June 18th. Zacks Research downgraded shares of Universal Display from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Roth Mkm set a $168.00 price objective on shares of Universal Display in a report on Friday, May 1st. Needham & Company LLC cut their price objective on shares of Universal Display from $145.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Finally, Oppenheimer reduced their target price on Universal Display from $160.00 to $130.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Three 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $130.60.

Universal Display Trading Up 0.4%

NASDAQ OLED opened at $86.59 on Wednesday. The company has a fifty day simple moving average of $91.46 and a 200 day simple moving average of $103.39. Universal Display Corporation has a 12-month low of $83.64 and a 12-month high of $162.36. The company has a market cap of $4.05 billion, a P/E ratio of 19.33 and a beta of 1.54.

Universal Display (NASDAQ:OLED) last announced its quarterly 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). Universal Display had a net margin of 34.08% and a return on equity of 12.34%. The business had revenue of $142.21 million for the quarter, compared to the consensus estimate of $161.23 million. During the same quarter last year, the firm posted $1.35 EPS. The business’s revenue for the quarter was down 14.5% compared to the same quarter last year. Sell-side analysts predict that Universal Display Corporation will post 4.23 EPS for the current year.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. Universal Display’s payout ratio is presently 44.64%.

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.