Jupiter Topco LLC Invests $2.61 Million in Universal Display Corporation $OLED

Key Points

• Jupiter Topco LLC acquired 30,126 shares of Universal Display, valued at approximately $2.61 million, giving it a 0.07% stake. Institutional investors and hedge funds collectively own 78.19% of the company.
• Analysts have broadly reduced their price targets, with Universal Display carrying an average “Hold” rating and a consensus price target of $116.33. The stock recently traded at $83.56, near the lower end of its 52-week range.
• Universal Display beat quarterly EPS expectations with $1.06 versus $1.03 forecast, but revenue fell 11.4% year over year to $152.16 million. The company declared a quarterly dividend of $0.50, representing a 2.4% annualized yield.

Jupiter Topco LLC acquired a new position in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 30,126 shares of the semiconductor company's stock, valued at approximately $2,610,000. Jupiter Topco LLC owned about 0.07% of Universal Display as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Measured Wealth Private Client Group LLC acquired a new stake in shares of Universal Display in the 3rd quarter valued at approximately $33,000. RHL Group LLC acquired a new position in Universal Display during the 4th quarter worth approximately $60,000. Canada Pension Plan Investment Board bought a new position in Universal Display in the 2nd quarter valued at approximately $62,000. UMB Bank n.a. lifted its stake in Universal Display by 28.3% in the 4th quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company's stock valued at $64,000 after purchasing an additional 121 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in Universal Display in the 4th quarter valued at approximately $75,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OLED has been the topic of a number of research reports. Citigroup decreased their target price on shares of Universal Display from $100.00 to $85.00 and set a "neutral" rating on the stock in a research note on Monday, August 3rd. Needham & Company LLC dropped their price target on Universal Display from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, July 31st. Oppenheimer reissued an "outperform" rating and set a $120.00 price objective (down from $130.00) on shares of Universal Display in a report on Friday, July 31st. Susquehanna reduced their price objective on Universal Display from $110.00 to $90.00 and set a "neutral" rating on the stock in a research report on Friday, July 31st. Finally, Zacks Research raised Universal Display from a "strong sell" rating to a "hold" rating in a report on Thursday, August 13th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Universal Display presently has an average rating of "Hold" and an average price target of $116.33.

Universal Display Price Performance

NASDAQ:OLED opened at $83.56 on Thursday. Universal Display Corporation has a one year low of $76.42 and a one year high of $153.38. The company has a market cap of $3.84 billion, a PE ratio of 20.23 and a beta of 1.56. The firm's 50 day simple moving average is $83.77 and its 200 day simple moving average is $91.57.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.03. The firm had revenue of $152.16 million during the quarter, compared to analysts' expectations of $157.54 million. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The company's revenue was down 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.41 EPS. Equities research analysts expect that Universal Display Corporation will post 4.17 EPS for the current year.

Universal Display Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 annualized dividend and a yield of 2.4%. Universal Display's dividend payout ratio is presently 48.43%.

About Universal Display

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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