Element Capital Management LLC Buys New Holdings in Universal Display Corporation $OLED

Key Points

• Element Capital Management acquired 17,949 shares of Universal Display Corporation, valued at approximately $2.5 million, during the first quarter.
• The stock received mixed ratings from analysts, with one upgrade to a "hold" and a "buy" rating from Needham & Company, setting a target price of $170.00.
• Universal Display announced a quarterly dividend of $0.45 per share, with a dividend yield of 1.3%, set to be paid on September 30th.

Element Capital Management LLC purchased a new stake in Universal Display Corporation (NASDAQ:OLED - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,949 shares of the semiconductor company's stock, valued at approximately $2,504,000.

A number of other large investors also recently made changes to their positions in OLED. Vestmark Advisory Solutions Inc. increased its position in shares of Universal Display by 432.1% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 74,250 shares of the semiconductor company's stock valued at $10,356,000 after buying an additional 60,296 shares in the last quarter. FengHe Fund Management Pte. Ltd. bought a new stake in shares of Universal Display in the 1st quarter valued at $41,147,000. Prudential PLC increased its position in shares of Universal Display by 2.1% in the 1st quarter. Prudential PLC now owns 4,109 shares of the semiconductor company's stock valued at $573,000 after buying an additional 83 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Universal Display by 19.4% in the 1st quarter. HighTower Advisors LLC now owns 6,833 shares of the semiconductor company's stock valued at $953,000 after buying an additional 1,108 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Universal Display in the 1st quarter valued at $14,051,000. Institutional investors and hedge funds own 78.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OLED. Wall Street Zen upgraded shares of Universal Display from a "sell" rating to a "hold" rating in a research report on Friday, May 2nd. Needham & Company LLC restated a "buy" rating and issued a $170.00 price objective on shares of Universal Display in a research report on Friday, May 2nd. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $190.43.

Universal Display Trading Down 0.5%

Shares of NASDAQ OLED traded down $0.7680 during mid-day trading on Wednesday, hitting $139.9820. The company had a trading volume of 137,249 shares, compared to its average volume of 654,702. The company has a market capitalization of $6.65 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The firm has a 50-day simple moving average of $150.50 and a two-hundred day simple moving average of $144.45. Universal Display Corporation has a one year low of $103.70 and a one year high of $215.90.

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

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a $0.45 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.3%. Universal Display's dividend payout ratio (DPR) is presently 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.