Meeder Asset Management Inc. Purchases Shares of 44,289 Universal Display Corporation $OLED

Key Points

• Meeder Asset Management acquired 44,289 shares of Universal Display worth approximately $3.84 million, while institutional investors and hedge funds collectively own 78.19% of the company.
• Analyst sentiment is mostly cautious: Universal Display has a consensus “Hold” rating and an average price target of $116.33, despite shares trading around $84.45.
• The company beat quarterly EPS expectations with $1.06 per share, but revenue fell 11.4% year over year to $152.16 million. Universal Display also declared a quarterly dividend of $0.50 per share, equivalent to a 2.4% yield.

Meeder Asset Management Inc. acquired a new stake in Universal Display Corporation (NASDAQ:OLED - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 44,289 shares of the semiconductor company's stock, valued at approximately $3,835,000. Meeder Asset Management Inc. owned 0.10% of Universal Display as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in Universal Display during the 2nd quarter valued at $373,931,000. Deutsche Bank AG acquired a new position in shares of Universal Display in the second quarter valued at $1,151,000. Rice Hall James & Associates LLC bought a new position in shares of Universal Display in the second quarter valued at about $2,600,000. AMG National Trust Bank acquired a new stake in shares of Universal Display during the 2nd quarter worth about $1,514,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Universal Display during the 2nd quarter worth about $27,721,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Citigroup cut their price objective on shares of Universal Display from $100.00 to $85.00 and set a "neutral" rating for the company in a research report on Monday, August 3rd. Weiss Ratings downgraded Universal Display from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, July 28th. BTIG Research lowered Universal Display to a "neutral" rating in a report on Friday, July 31st. Susquehanna lowered 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, Roth Capital set a $168.00 target price on Universal Display in a report on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $116.33.

Universal Display Trading Down 2.5%

OLED opened at $84.45 on Wednesday. The company has a market cap of $3.88 billion, a P/E ratio of 20.45 and a beta of 1.54. The company's 50 day moving average is $84.60 and its 200-day moving average is $94.37. 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 announced its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.03. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The company had revenue of $152.16 million during the quarter, compared to the consensus estimate of $157.54 million. During the same period in the prior year, the business earned $1.41 earnings per share. The company's revenue for the quarter was down 11.4% compared to the same quarter last year. On average, equities analysts forecast that Universal Display Corporation will post 4.18 EPS for the current year.

Universal Display Dividend Announcement

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

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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