Dark Forest Capital Management LP Purchases 23,140 Shares of Universal Display Corporation $OLED

Key Points

• Dark Forest Capital Management LP significantly increased its stake in Universal Display Corporation by 522.9% during the first quarter, owning 27,565 shares valued at approximately $3.8 million.
• Zacks Research downgraded Universal Display from a "strong-buy" to a "hold" rating, with the company holding a consensus rating of "Moderate Buy" and an average price target of $190.43.
• Universal Display recently announced a $0.45 quarterly dividend, set to be paid on September 30th, representing an annual yield of 1.3%.

Dark Forest Capital Management LP lifted its holdings in Universal Display Corporation (NASDAQ:OLED - Free Report) by 522.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,565 shares of the semiconductor company's stock after purchasing an additional 23,140 shares during the quarter. Dark Forest Capital Management LP owned 0.06% of Universal Display worth $3,845,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of OLED. Northern Trust Corp grew its holdings in shares of Universal Display by 17.8% in the fourth quarter. Northern Trust Corp now owns 417,644 shares of the semiconductor company's stock valued at $61,060,000 after purchasing an additional 63,044 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of Universal Display in the fourth quarter valued at $371,000. Mercer Global Advisors Inc. ADV grew its holdings in shares of Universal Display by 24.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 4,236 shares of the semiconductor company's stock valued at $619,000 after purchasing an additional 845 shares in the last quarter. Algert Global LLC grew its holdings in shares of Universal Display by 14.6% in the fourth quarter. Algert Global LLC now owns 32,120 shares of the semiconductor company's stock valued at $4,696,000 after purchasing an additional 4,089 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Universal Display by 16.9% in the fourth quarter. BNP Paribas Financial Markets now owns 61,641 shares of the semiconductor company's stock valued at $9,012,000 after purchasing an additional 8,928 shares in the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Zacks Research lowered shares of Universal Display from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $190.43.

Universal Display Price Performance

Shares of NASDAQ:OLED traded up $0.71 on Friday, hitting $145.39. 712,317 shares of the company's stock were exchanged, compared to its average volume of 478,014. Universal Display Corporation has a 12 month low of $103.70 and a 12 month high of $215.90. The business's 50 day simple moving average is $146.96 and its two-hundred day simple moving average is $144.24. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 4.27 and a beta of 1.50.

Universal Display (NASDAQ:OLED - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.18 by $0.23. Universal Display had a net margin of 36.95% and a return on equity of 15.82%. The company had revenue of $171.79 million during the quarter, compared to analyst estimates of $161.58 million. During the same period in the prior year, the firm earned $1.10 earnings per share. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. Universal Display has set its FY 2025 guidance at EPS. Equities analysts forecast that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a yield of 1.2%. Universal Display's dividend payout ratio is 35.16%.

About Universal Display

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.