GSA Capital Partners LLP Invests $2.02 Million in Universal Display Corporation $OLED

Key Points

• GSA Capital Partners acquired 23,383 shares of Universal Display worth approximately $2.02 million, representing about 0.05% of the company. Institutional investors collectively owned 78.19% of the stock.
• Universal Display reported quarterly EPS of $1.06, beating estimates of $1.03, but revenue of $152.16 million fell short of expectations and declined 11.4% year over year.
• The company declared a quarterly dividend of $0.50 per share, equivalent to a 2.2% yield, while analysts maintained a consensus “Hold” rating with an average price target of $116.33.

GSA Capital Partners LLP bought a new position in Universal Display Corporation (NASDAQ:OLED - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 23,383 shares of the semiconductor company's stock, valued at approximately $2,025,000. GSA Capital Partners LLP owned approximately 0.05% of Universal Display at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC bought a new stake in shares of Universal Display in the third quarter worth approximately $33,000. RHL Group LLC purchased a new stake in Universal Display in the fourth quarter worth about $60,000. Canada Pension Plan Investment Board bought a new stake in Universal Display during the 2nd quarter worth approximately $62,000. UMB Bank n.a. lifted its stake in shares of Universal Display by 28.3% during the 4th quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company's stock valued at $64,000 after buying an additional 121 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Universal Display in the fourth quarter valued at about $75,000. 78.19% of the stock is owned by institutional investors.

Universal Display Price Performance

Shares of OLED stock opened at $88.92 on Friday. The business has a fifty day moving average of $84.74 and a 200 day moving average of $94.98. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 21.53 and a beta of 1.54. Universal Display Corporation has a 1 year low of $76.42 and a 1 year high of $153.38.

Universal Display (NASDAQ:OLED - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $1.06 EPS for the quarter, beating the consensus estimate of $1.03 by $0.03. The business had revenue of $152.16 million for the quarter, compared to the consensus estimate of $157.54 million. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The business's revenue for the quarter was down 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.41 EPS. As a group, equities research analysts expect that Universal Display Corporation will post 4.18 earnings per share for the current year.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 16th. Universal Display's payout ratio is 48.43%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. The Goldman Sachs Group set a $135.00 price target on shares of Universal Display in a report on Tuesday, April 21st. Citigroup decreased their price target on Universal Display from $100.00 to $85.00 and set a "neutral" rating on the stock in a report on Monday, August 3rd. Zacks Research raised Universal Display from a "strong sell" rating to a "hold" rating in a research note on Thursday. Oppenheimer reaffirmed an "outperform" rating and issued a $120.00 price target (down from $130.00) on shares of Universal Display in a research note on Friday, July 31st. Finally, Roth Capital set a $168.00 target price on Universal Display in a research report on Friday, May 1st. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $116.33.

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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