Governors Lane LP Invests $11.36 Million in Universal Display Corporation $OLED

Governors Lane LP bought a new stake in shares of Universal Display Corporation (NASDAQ:OLED) during the 2nd quarter, Holdings Channel reports. The fund bought 131,172 shares of the semiconductor company’s stock, valued at approximately $11,358,000. Universal Display makes up 0.8% of Governors Lane LP’s portfolio, making the stock its 29th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OLED. Lido Advisors LLC lifted its stake in Universal Display by 1.7% in the third quarter. Lido Advisors LLC now owns 5,783 shares of the semiconductor company’s stock worth $831,000 after acquiring an additional 95 shares during the period. Certuity LLC increased its position in Universal Display by 4.3% during the 3rd quarter. Certuity LLC now owns 2,556 shares of the semiconductor company’s stock valued at $367,000 after purchasing an additional 105 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Universal Display by 5.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,999 shares of the semiconductor company’s stock valued at $287,000 after purchasing an additional 108 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Universal Display by 0.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 13,979 shares of the semiconductor company’s stock worth $2,008,000 after purchasing an additional 113 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in Universal Display by 28.3% in 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 in the last quarter. Institutional investors own 78.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on OLED shares. Oppenheimer reaffirmed 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. Needham & Company LLC lowered their price objective on shares of Universal Display from $120.00 to $100.00 and set a “buy” rating for the company in a report on Friday, July 31st. Citigroup cut their price objective on Universal Display from $100.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. BTIG Research downgraded Universal Display to a “neutral” rating in a report on Friday, July 31st. Finally, Zacks Research upgraded Universal Display from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $116.33.

Universal Display Trading Down 0.0%

Shares of Universal Display stock opened at $82.30 on Wednesday. The firm has a market capitalization of $3.78 billion, a P/E ratio of 19.93 and a beta of 1.56. The business has a fifty day simple moving average of $83.41 and a two-hundred day simple moving average of $90.45. Universal Display Corporation has a 12 month low of $76.42 and a 12 month high of $153.38.

Universal Display (NASDAQ:OLED) last released 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. The firm had revenue of $152.16 million for the quarter, compared to the consensus estimate of $157.54 million. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The company’s revenue was down 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 EPS. Analysts predict 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. Investors of record on Wednesday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 annualized dividend and a yield of 2.4%. Universal Display’s 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.