Harbor Capital Advisors Inc. Buys 2,786 Shares of Universal Display Corporation $OLED

Key Points

• Harbor Capital Advisors Inc. increased its holdings in Universal Display Corporation by 30%, acquiring an additional 2,786 shares during the second quarter, bringing their total to 12,073 shares valued at approximately $1.87 million.
• Universal Display's stock is currently rated as a Moderate Buy with an average price target of $190.43, although Zacks Research recently downgraded it from a "strong-buy" to a "hold" rating.
• The company reported quarterly earnings of $1.41 per share, exceeding estimates of $1.18, and announced a quarterly dividend of $0.45 per share, reflecting a 1.3% yield.

Harbor Capital Advisors Inc. increased its stake in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 30.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,073 shares of the semiconductor company's stock after purchasing an additional 2,786 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Universal Display were worth $1,865,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Universal Display by 5.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 139,646 shares of the semiconductor company's stock valued at $19,478,000 after acquiring an additional 6,604 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Universal Display by 44.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 286,320 shares of the semiconductor company's stock worth $39,936,000 after purchasing an additional 87,801 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Universal Display during the 1st quarter worth about $242,000. DAVENPORT & Co LLC acquired a new stake in shares of Universal Display during the 1st quarter valued at about $377,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Universal Display by 134.1% during the 1st quarter. GAMMA Investing LLC now owns 962 shares of the semiconductor company's stock valued at $134,000 after buying an additional 551 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company's stock.

Universal Display Stock Up 1.3%

NASDAQ:OLED traded up $1.80 during trading hours on Friday, reaching $142.01. The company had a trading volume of 3,906,374 shares, compared to its average volume of 612,129. The stock has a 50-day moving average of $143.19 and a two-hundred day moving average of $143.22. Universal Display Corporation has a one year low of $103.70 and a one year high of $215.90. The firm has a market capitalization of $6.75 billion, a PE ratio of 27.74, a PEG ratio of 4.17 and a beta of 1.50.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its earnings results on Thursday, July 31st. The semiconductor company reported $1.41 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $161.58 million. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.10 EPS. Universal Display has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Universal Display Corporation will post 4.71 earnings per share for the current year.

Universal Display Dividend Announcement

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

Analysts Set New Price Targets

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

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.