Bronte Capital Management Pty Ltd. Makes New Investment in Universal Display Corporation $OLED

Key Points

• Bronte Capital Management purchased a new position of 11,653 shares in Universal Display (NASDAQ:OLED) in Q4, valued at about $1.361 million and making the stock 0.1% of its portfolio and its 28th largest holding.
• Universal Display reported Q1 EPS of $0.76 and revenue of $142.21 million, missing estimates (consensus $1.13 EPS; $161.23M revenue) and showing a 14.5% year‑over‑year revenue decline.
• The company declared a $0.50 quarterly dividend (annualized $2.00, ~2.0% yield; ex‑dividend June 16) and Wall Street holds a consensus Hold rating with an average target price of $130.60.

Bronte Capital Management Pty Ltd. purchased a new position in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 11,653 shares of the semiconductor company's stock, valued at approximately $1,361,000. Universal Display accounts for 0.1% of Bronte Capital Management Pty Ltd.'s portfolio, making the stock its 28th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in OLED. Smartleaf Asset Management LLC boosted its position in shares of Universal Display by 309.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 209 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 158 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of Universal Display during the 3rd quarter worth about $33,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Universal Display during the 3rd quarter worth about $37,000. Farther Finance Advisors LLC boosted its position in shares of Universal Display by 27.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 351 shares of the semiconductor company's stock worth $50,000 after purchasing an additional 75 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in shares of Universal Display by 104.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 388 shares of the semiconductor company's stock worth $58,000 after purchasing an additional 198 shares in the last quarter. Institutional investors own 78.19% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on OLED. Weiss Ratings reissued a "hold (c-)" rating on shares of Universal Display in a research report on Monday, March 23rd. The Goldman Sachs Group set a $135.00 price objective on shares of Universal Display in a research report on Tuesday, April 21st. Wall Street Zen raised shares of Universal Display from a "sell" rating to a "hold" rating in a research report on Sunday, February 22nd. Needham & Company LLC cut their price objective on shares of Universal Display from $145.00 to $120.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Finally, Citigroup cut their price objective on shares of Universal Display from $105.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Universal Display presently has a consensus rating of "Hold" and an average target price of $130.60.

Universal Display Stock Performance

Shares of NASDAQ OLED opened at $98.45 on Wednesday. Universal Display Corporation has a fifty-two week low of $83.64 and a fifty-two week high of $163.21. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 8.26 and a beta of 1.54. The firm's 50-day simple moving average is $96.71 and its 200 day simple moving average is $114.45.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.37). Universal Display had a net margin of 34.08% and a return on equity of 12.34%. The business had revenue of $142.21 million during the quarter, compared to the consensus estimate of $161.23 million. During the same period in the previous year, the business posted $1.35 EPS. Universal Display's revenue was down 14.5% compared to the same quarter last year. On average, sell-side analysts predict that Universal Display Corporation will post 4.57 EPS for the current year.

Universal Display Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 2.0%. Universal Display's dividend payout ratio (DPR) is presently 44.64%.

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.

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