19,057 Universal Display Corporation $OLED Shares Bought by ARGA Investment Management LP

Key Points

• ARGA Investment Management increased its Universal Display stake by 576.6% in the third quarter, adding 19,057 shares to hold 22,362 shares valued at about $1.72 million. Institutional investors and hedge funds owned 78.19% of the company’s stock.
• Universal Display reported quarterly EPS of $1.23, beating the $1.13 analyst consensus, while revenue of $160.43 million fell short of expectations. Revenue increased 14.9% year over year.
• The company declared a quarterly dividend of $0.50 per share, equivalent to a 2.2% yield. Analysts’ average rating was “Hold,” with an average price target of $114.

ARGA Investment Management LP lifted its holdings in Universal Display Corporation (NASDAQ:OLED - Free Report) by 576.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 22,362 shares of the semiconductor company's stock after buying an additional 19,057 shares during the quarter. ARGA Investment Management LP's holdings in Universal Display were worth $1,723,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. XXEC Inc. acquired a new stake in shares of Universal Display during the 2nd quarter worth approximately $2,508,286,000. BlackRock Inc. bought a new position in Universal Display in the 2nd quarter worth about $373,931,000. Primecap Management Co. CA bought a new position in Universal Display in the 2nd quarter worth approximately $190,136,000. Canada Pension Plan Investment Board acquired a new position in shares of Universal Display during the second quarter valued at $31,796,000. Finally, Bank of New York Mellon Corp acquired a new position in Universal Display during the 2nd quarter valued at about $27,721,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Stock Down 0.5%

OLED stock opened at $89.40 on Wednesday. The company has a 50 day moving average of $80.92 and a two-hundred day moving average of $91.88. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 18.13 and a beta of 1.51. Universal Display Corporation has a 12-month low of $70.77 and a 12-month high of $147.68.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The semiconductor company reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.10. Universal Display had a net margin of 36.74% and a return on equity of 12.20%. The firm had revenue of $160.43 million during the quarter, compared to analysts' expectations of $162.72 million. During the same period in the prior year, the company posted $0.92 earnings per share. Universal Display's revenue for the quarter was up 14.9% on a year-over-year basis. On average, research analysts anticipate that Universal Display Corporation will post 4.43 EPS for the current year.

Universal Display Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 17th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, December 17th. Universal Display's payout ratio is currently 40.57%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OLED. Citigroup downgraded Universal Display from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $85.00 to $71.00 in a research note on Thursday, October 8th. Needham & Company LLC reduced their price objective on shares of Universal Display from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Oppenheimer lowered their price objective on shares of Universal Display from $120.00 to $115.00 and set an "outperform" rating on the stock in a research note on Thursday, October 29th. Zacks Research upgraded shares of Universal Display from a "strong sell" rating to a "hold" rating in a report on Thursday, August 13th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Universal Display in a research note on Monday, October 26th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Universal Display has an average rating of "Hold" and an average price target of $114.00.

Universal Display Profile

Universal Display Corporation NASDAQ: OLED develops and commercializes technologies and materials used in organic light-emitting diode (OLED) displays and lighting. The company's portfolio includes phosphorescent OLED (PHOLED) materials, which are designed to improve display efficiency, along with OLED research, development and manufacturing technologies.

Universal Display supplies OLED emitter materials and related products to display manufacturers and licenses its intellectual property and technology.

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