GSA Capital Partners LLP Buys New Position in Universal Display Corporation $OLED

GSA Capital Partners LLP bought a new stake in Universal Display Corporation (NASDAQ:OLED) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 23,383 shares of the semiconductor company’s stock, valued at approximately $2,025,000.

Several other hedge funds have also made changes to their positions in OLED. Measured Wealth Private Client Group LLC purchased a new position in shares of Universal Display in the third quarter valued at approximately $33,000. Canada Pension Plan Investment Board purchased a new position in Universal Display in the 2nd quarter valued at approximately $62,000. RHL Group LLC acquired a new position in shares of Universal Display in the fourth quarter worth $60,000. UMB Bank n.a. increased its position in shares of Universal Display by 28.3% during the fourth quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company’s stock worth $64,000 after acquiring an additional 121 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of Universal Display in the fourth quarter valued at $75,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Price Performance

NASDAQ:OLED opened at $88.92 on Friday. Universal Display Corporation has a 12 month low of $76.42 and a 12 month high of $153.38. The firm has a market capitalization of $4.09 billion, a PE ratio of 21.53 and a beta of 1.54. The business’s fifty day moving average price is $84.74 and its 200 day moving average price is $94.98.

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

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 16th. Universal Display’s dividend payout ratio (DPR) is 48.43%.

Analyst Ratings Changes

Several equities research analysts have weighed in on OLED shares. Zacks Research upgraded Universal Display from a “strong sell” rating to a “hold” rating in a report on Thursday. Weiss Ratings cut Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Oppenheimer restated an “outperform” rating and set a $120.00 target price (down from $130.00) on shares of Universal Display in a research note on Friday, July 31st. Roth Capital set a $168.00 target price on shares of Universal Display in a report on Friday, May 1st. Finally, BTIG Research downgraded shares of Universal Display to a “neutral” rating in a research note on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $116.33.

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.