Quantbot Technologies LP Purchases Shares of 26,154 Universal Display Corporation $OLED

Key Points

• Quantbot Technologies LP acquired 26,154 shares of Universal Display during the second quarter, valued at approximately $2.27 million. Hedge funds and other institutional investors collectively own 78.19% of the company.
• Analysts have recently lowered their price targets, with ratings spanning Buy, Hold, and Sell. MarketBeat reports a consensus “Hold” rating and an average price target of $116.33.
• Universal Display reported quarterly EPS of $1.06, ahead of estimates, but revenue fell 11.4% year over year to $152.16 million. The company declared a quarterly dividend of $0.50, equivalent to a 2.4% yield.

Quantbot Technologies LP acquired a new position in Universal Display Corporation (NASDAQ:OLED - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 26,154 shares of the semiconductor company's stock, valued at approximately $2,265,000. Quantbot Technologies LP owned about 0.06% of Universal Display at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Measured Wealth Private Client Group LLC purchased a new position in shares of Universal Display in the third quarter valued at $33,000. Canada Pension Plan Investment Board bought a new stake in Universal Display in the second quarter worth $62,000. RHL Group LLC purchased a new stake in Universal Display during the fourth quarter valued at $60,000. UMB Bank n.a. raised its stake in Universal Display by 28.3% during the fourth 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 in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in Universal Display during the fourth quarter valued at $75,000. 78.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on OLED shares. Oppenheimer reissued an "outperform" rating and issued a $120.00 price objective (down from $130.00) on shares of Universal Display in a research note on Friday, July 31st. Susquehanna decreased their target price on shares of Universal Display from $110.00 to $90.00 and set a "neutral" rating on the stock in a research report on Friday, July 31st. BTIG Research downgraded shares of Universal Display to a "neutral" rating in a report on Friday, July 31st. Citigroup dropped their price target on Universal Display from $100.00 to $85.00 and set a "neutral" rating for the company in a research report on Monday, August 3rd. Finally, Needham & Company LLC reduced their price objective on Universal Display from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $116.33.

Universal Display Stock Down 1.3%

NASDAQ OLED opened at $84.71 on Tuesday. Universal Display Corporation has a 52 week low of $76.42 and a 52 week high of $153.38. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of 20.51 and a beta of 1.54. The company has a fifty day moving average of $84.23 and a two-hundred day moving average of $93.50.

Universal Display (NASDAQ:OLED - Get Free Report) last released its 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 firm had revenue of $152.16 million during the quarter, compared to analyst estimates of $157.54 million. During the same quarter last year, the business earned $1.41 EPS. The business's revenue was down 11.4% on a year-over-year basis. Equities research analysts anticipate that Universal Display Corporation will post 4.17 EPS for the current year.

Universal Display Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, September 16th. 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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