Future Fund LLC Boosts Holdings in Universal Display Corporation $OLED

Key Points

• Future Fund LLC increased its stake in Universal Display by 74.9% in the first quarter, ending with 29,741 shares valued at about $2.73 million.
• Universal Display reported weaker-than-expected Q1 earnings, with EPS of $0.76 versus $1.13 expected and revenue of $142.21 million versus $161.23 million expected. Revenue also fell 14.5% year over year.
• The company recently paid a quarterly dividend of $0.50 per share, equal to a $2.00 annualized dividend yield of 2.5%.

Future Fund LLC grew its stake in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 74.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,741 shares of the semiconductor company's stock after acquiring an additional 12,741 shares during the quarter. Future Fund LLC owned about 0.06% of Universal Display worth $2,726,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Lido Advisors LLC grew its holdings in Universal Display by 1.7% in the third quarter. Lido Advisors LLC now owns 5,783 shares of the semiconductor company's stock valued at $831,000 after purchasing an additional 95 shares during the period. Sigma Planning Corp increased its position in Universal Display by 1.0% during the fourth quarter. Sigma Planning Corp now owns 10,390 shares of the semiconductor company's stock worth $1,210,000 after purchasing an additional 103 shares during the last quarter. Certuity LLC raised its stake in Universal Display by 4.3% during the third quarter. Certuity LLC now owns 2,556 shares of the semiconductor company's stock worth $367,000 after purchasing an additional 105 shares during the period. U.S. Capital Wealth Advisors LLC raised its stake in Universal Display by 2.8% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 3,869 shares of the semiconductor company's stock worth $452,000 after purchasing an additional 107 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Universal Display by 5.7% in 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 last quarter. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Universal Display Stock Up 0.6%

OLED opened at $80.18 on Friday. Universal Display Corporation has a 52-week low of $77.15 and a 52-week high of $154.07. The company has a 50 day moving average of $87.52 and a two-hundred day moving average of $100.00. The company has a market cap of $3.75 billion, a P/E ratio of 17.90 and a beta of 1.54.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its earnings results on Thursday, April 30th. The semiconductor company reported $0.76 EPS for the quarter, missing analysts' consensus estimates of $1.13 by ($0.37). The business had revenue of $142.21 million during the quarter, compared to analysts' expectations of $161.23 million. Universal Display had a net margin of 34.08% and a return on equity of 12.34%. The business's revenue was down 14.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.35 EPS. Research analysts anticipate that Universal Display Corporation will post 4.23 earnings per share for the current year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 2.5%. Universal Display's dividend payout ratio (DPR) is 44.64%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on OLED shares. Needham & Company LLC lowered their price objective on shares of Universal Display from $145.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Citigroup cut their target price on Universal Display from $105.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, May 4th. Roth Capital set a $168.00 target price on Universal Display in a report on Friday, May 1st. Oppenheimer lowered their price target on Universal Display from $160.00 to $130.00 and set an "outperform" rating for the company in a research report on Friday, May 1st. Finally, Zacks Research downgraded Universal Display from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $130.60.

Universal Display Company 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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