Landscape Capital Management L.L.C. Buys New Position in Universal Display Corporation $OLED

Landscape Capital Management L.L.C. bought a new position in shares of Universal Display Corporation (NASDAQ:OLED) in the 2nd quarter, Holdings Channel reports. The fund bought 6,360 shares of the semiconductor company’s stock, valued at approximately $551,000.

A number of other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Universal Display in the second quarter valued at approximately $373,931,000. Norges Bank bought a new position in shares of Universal Display during the 4th quarter worth approximately $92,756,000. JPMorgan Chase & Co. grew its position in shares of Universal Display by 86.4% during the 4th quarter. JPMorgan Chase & Co. now owns 880,678 shares of the semiconductor company’s stock worth $102,846,000 after buying an additional 408,315 shares during the period. Analog Century Management LP acquired a new stake in shares of Universal Display during the 4th quarter worth approximately $46,914,000. Finally, UBS Group AG increased its stake in shares of Universal Display by 100.8% in the 4th quarter. UBS Group AG now owns 646,787 shares of the semiconductor company’s stock valued at $75,532,000 after acquiring an additional 324,677 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OLED has been the topic of a number of research reports. Weiss Ratings downgraded shares of Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Citigroup reduced their price target on shares of Universal Display from $100.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, August 3rd. Needham & Company LLC decreased their price target on shares of Universal Display from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Zacks Research upgraded shares of Universal Display from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Finally, Oppenheimer reissued an “outperform” rating and set a $120.00 price objective (down from $130.00) on shares of Universal Display in a research report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $116.33.

Universal Display Price Performance

NASDAQ OLED opened at $85.84 on Monday. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 20.78 and a beta of 1.54. Universal Display Corporation has a 52 week low of $76.42 and a 52 week high of $153.38. The business has a 50 day moving average price of $84.40 and a 200-day moving average price of $93.73.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The company had revenue of $152.16 million for the quarter, compared to analyst estimates of $157.54 million. During the same period in the prior year, the firm earned $1.41 earnings per share. Universal Display’s revenue for the quarter was down 11.4% on a year-over-year basis. On average, equities research analysts anticipate that Universal Display Corporation will post 4.17 earnings per share for the current year.

Universal Display Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 annualized dividend and a yield of 2.3%. Universal Display’s dividend payout ratio is presently 48.43%.

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.