Rice Hall James & Associates LLC Invests $1.99 Million in Universal Display Corporation $OLED

Key Points

• Rice Hall James & Associates initiated a $1.99 million position in Universal Display, purchasing 21,713 shares during the first quarter. Institutional investors collectively own 78.19% of the company.
• Universal Display reported weaker-than-expected quarterly results, with earnings per share of $0.76 versus the $1.13 consensus estimate and revenue of $142.21 million versus $161.23 million expected. Revenue declined 14.5% year over year.
• The company maintains a quarterly dividend of $0.50 per share, equivalent to a 2.5% annualized yield. Analysts have a consensus “Hold” rating and an average price target of $130.60, compared with the stock’s reported price of $79.27.

Rice Hall James & Associates LLC bought a new position in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 21,713 shares of the semiconductor company's stock, valued at approximately $1,990,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Systematic Financial Management LP grew its holdings in Universal Display by 40.2% during the fourth quarter. Systematic Financial Management LP now owns 196,515 shares of the semiconductor company's stock valued at $22,949,000 after purchasing an additional 56,320 shares during the last quarter. Caxton Associates LLP boosted its holdings in shares of Universal Display by 132.6% during the 1st quarter. Caxton Associates LLP now owns 43,818 shares of the semiconductor company's stock worth $4,016,000 after buying an additional 24,977 shares during the period. UBS Group AG boosted its holdings in shares of Universal Display by 100.8% during the 4th quarter. UBS Group AG now owns 646,787 shares of the semiconductor company's stock worth $75,532,000 after buying an additional 324,677 shares during the period. Hussman Strategic Advisors Inc. acquired a new position in Universal Display in the 4th quarter valued at $1,962,000. Finally, Deprince Race & Zollo Inc. grew its stake in Universal Display by 86.6% in the 4th quarter. Deprince Race & Zollo Inc. now owns 428,335 shares of the semiconductor company's stock valued at $50,021,000 after buying an additional 198,845 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors.

Universal Display Stock Performance

OLED opened at $79.27 on Monday. Universal Display Corporation has a twelve month low of $77.15 and a twelve month high of $153.38. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 17.69 and a beta of 1.54. The firm's 50-day simple moving average is $86.42 and its 200-day simple moving average is $98.50.

Universal Display (NASDAQ:OLED - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The semiconductor company reported $0.76 EPS for the quarter, missing analysts' consensus estimates of $1.13 by ($0.37). The firm had revenue of $142.21 million during the quarter, compared to analyst estimates of $161.23 million. Universal Display had a net margin of 34.08% and a return on equity of 12.34%. Universal Display's quarterly revenue was down 14.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.35 earnings per share. As a group, sell-side analysts anticipate that Universal Display Corporation will post 4.23 EPS for the current fiscal year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 2.5%. Universal Display's dividend payout ratio is 44.64%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OLED. Weiss Ratings reissued a "hold (c-)" rating on shares of Universal Display in a research report on Thursday, June 18th. Citigroup dropped their price objective on Universal Display from $105.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, May 4th. The Goldman Sachs Group set a $135.00 target price on Universal Display in a research note on Tuesday, April 21st. Roth Capital set a $168.00 price target on shares of Universal Display in a research report on Friday, May 1st. Finally, Needham & Company LLC decreased their price objective on Universal Display from $145.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, May 1st. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $130.60.

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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