Gotham Asset Management LLC Grows Position in Universal Display Corporation $OLED

Key Points

• Gotham Asset Management LLC raised its stake in Universal Display Corporation by 46.8% in the first quarter, increasing its holdings to $20.16 million worth of shares.
• Universal Display recently announced a quarterly dividend of $0.45 per share, which represents an annualized dividend yield of 1.2%.
• The stock is currently rated as a "Moderate Buy" by analysts, with a target price of $190.43, following a recent downgrade from a "strong-buy" rating by Zacks Research.

Gotham Asset Management LLC raised its holdings in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 46.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,565 shares of the semiconductor company's stock after buying an additional 46,078 shares during the quarter. Gotham Asset Management LLC owned about 0.30% of Universal Display worth $20,164,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Prudential PLC grew its holdings in shares of Universal Display by 2.1% during the first quarter. Prudential PLC now owns 4,109 shares of the semiconductor company's stock worth $573,000 after buying an additional 83 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Universal Display by 3.8% during the first quarter. Bessemer Group Inc. now owns 2,603 shares of the semiconductor company's stock worth $363,000 after buying an additional 95 shares in the last quarter. Linden Thomas Advisory Services LLC grew its holdings in shares of Universal Display by 0.8% during the first quarter. Linden Thomas Advisory Services LLC now owns 12,319 shares of the semiconductor company's stock worth $1,718,000 after buying an additional 96 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Universal Display by 0.8% during the first quarter. Louisiana State Employees Retirement System now owns 12,400 shares of the semiconductor company's stock worth $1,730,000 after buying an additional 100 shares in the last quarter. Finally, Securian Asset Management Inc. grew its holdings in shares of Universal Display by 3.0% during the first quarter. Securian Asset Management Inc. now owns 3,381 shares of the semiconductor company's stock worth $472,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company's stock.

Wall Street Analyst Weigh In

Separately, Zacks Research cut shares of Universal Display from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $190.43.

Universal Display Stock Performance

Shares of OLED traded down $5.65 during mid-day trading on Tuesday, hitting $139.76. 834,334 shares of the company's stock were exchanged, compared to its average volume of 652,296. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 27.30, a P/E/G ratio of 4.26 and a beta of 1.50. Universal Display Corporation has a fifty-two week low of $103.70 and a fifty-two week high of $215.90. The stock's 50-day moving average is $146.78 and its 200-day moving average is $144.13.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.23. The business had revenue of $171.79 million for the quarter, compared to analysts' expectations of $161.58 million. Universal Display had a net margin of 36.95% and a return on equity of 15.82%. The business's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 earnings per share. Universal Display has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Universal Display Corporation will post 4.71 EPS for the current year.

Universal Display Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 16th. Universal Display's dividend payout ratio is currently 35.16%.

Universal Display Profile

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.