Meeder Asset Management Inc. Makes New Investment in Universal Display Corporation $OLED

Meeder Asset Management Inc. purchased a new stake in shares of Universal Display Corporation (NASDAQ:OLED) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 44,289 shares of the semiconductor company’s stock, valued at approximately $3,835,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Measured Wealth Private Client Group LLC purchased a new stake in Universal Display in the 3rd quarter valued at $33,000. RHL Group LLC bought a new stake in Universal Display in the fourth quarter worth about $60,000. Canada Pension Plan Investment Board bought a new position in shares of Universal Display during the 2nd quarter valued at approximately $62,000. UMB Bank n.a. increased its stake 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 purchasing an additional 121 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in Universal Display during the fourth quarter valued at $75,000. 78.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Susquehanna dropped their price objective on shares of Universal Display from $110.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Needham & Company LLC cut their target price on Universal Display from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Citigroup decreased their price target on shares of Universal Display from $100.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. BTIG Research cut Universal Display to a “neutral” rating in a report on Friday, July 31st. Finally, Zacks Research raised shares of Universal Display from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $116.33.

Universal Display Trading Down 2.5%

OLED opened at $84.45 on Wednesday. The business’s 50-day moving average price is $84.60 and its 200-day moving average price is $94.37. Universal Display Corporation has a 12 month low of $76.42 and a 12 month high of $153.38. The company has a market cap of $3.88 billion, a P/E ratio of 20.45 and a beta of 1.54.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.03. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The firm had revenue of $152.16 million during the quarter, compared to the consensus estimate of $157.54 million. During the same quarter in the previous year, the company posted $1.41 earnings per share. The business’s revenue was down 11.4% on a year-over-year basis. Equities research analysts forecast that Universal Display Corporation will post 4.18 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, September 16th. Universal Display’s dividend payout ratio is 48.43%.

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.