Jain Global LLC Purchases Shares of 45,227 Universal Display Corporation $OLED

Jain Global LLC acquired a new position in Universal Display Corporation (NASDAQ:OLED) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 45,227 shares of the semiconductor company’s stock, valued at approximately $6,496,000. Jain Global LLC owned 0.10% of Universal Display as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in OLED. Smartleaf Asset Management LLC boosted its stake in Universal Display by 309.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 209 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 158 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Universal Display during the third quarter worth approximately $37,000. Rise Advisors LLC lifted its holdings in shares of Universal Display by 53.3% during the third quarter. Rise Advisors LLC now owns 299 shares of the semiconductor company’s stock worth $43,000 after buying an additional 104 shares during the last quarter. Country Trust Bank bought a new stake in shares of Universal Display in the second quarter valued at approximately $46,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Universal Display by 27.2% in the third quarter. Farther Finance Advisors LLC now owns 351 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Stock Performance

NASDAQ:OLED opened at $95.58 on Tuesday. The company has a 50-day moving average of $114.19 and a 200-day moving average of $125.78. Universal Display Corporation has a 52 week low of $93.03 and a 52 week high of $163.21. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 7.39 and a beta of 1.65.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, February 19th. The semiconductor company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.11. Universal Display had a net margin of 37.21% and a return on equity of 14.07%. The business had revenue of $172.93 million for the quarter, compared to analysts’ expectations of $173.35 million. During the same quarter in the previous year, the firm posted $1.22 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Sell-side analysts forecast that Universal Display Corporation will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, March 17th. This is a boost from Universal Display’s previous quarterly dividend of $0.45. Universal Display’s payout ratio is currently 35.50%.

Wall Street Analyst Weigh In

OLED has been the topic of a number of research reports. Needham & Company LLC dropped their target price on shares of Universal Display from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Zacks Research downgraded shares of Universal Display from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Roth Mkm restated a “buy” rating and issued a $180.00 price target on shares of Universal Display in a research report on Friday, February 20th. Wall Street Zen upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Universal Display in a research report on Wednesday, December 24th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $151.67.

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.