Rice Hall James & Associates LLC Takes $2.60 Million Position in Universal Display Corporation $OLED

Key Points

• Rice Hall James & Associates bought 30,023 shares of Universal Display worth approximately $2.6 million, representing about 0.07% of the company. Institutional investors collectively own 78.19% of OLED.
• Analyst sentiment is mixed but leans neutral: the stock has a consensus “Hold” rating and an average price target of $116.33, although several firms recently lowered their targets.
• Universal Display exceeded quarterly EPS expectations with $1.06 versus $1.03 forecast, but revenue fell 11.4% year over year to $152.16 million. Shares opened at $84.45, while the company announced a quarterly dividend of $0.50 per share.

Rice Hall James & Associates LLC bought a new position in Universal Display Corporation (NASDAQ:OLED - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 30,023 shares of the semiconductor company's stock, valued at approximately $2,600,000. Rice Hall James & Associates LLC owned approximately 0.07% of Universal Display as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Measured Wealth Private Client Group LLC bought a new stake in Universal Display in the 3rd quarter valued at $33,000. Canada Pension Plan Investment Board bought a new position in shares of Universal Display during the 2nd quarter valued at about $62,000. RHL Group LLC bought a new position in shares of Universal Display during the 4th quarter valued at about $60,000. UMB Bank n.a. grew its position in shares of 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. purchased a new position in shares of Universal Display during the fourth quarter valued at about $75,000. Institutional investors own 78.19% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on OLED shares. Zacks Research upgraded Universal Display from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 13th. Weiss Ratings cut Universal Display from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, July 28th. 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. Citigroup reduced their price objective on Universal Display from $100.00 to $85.00 and set a "neutral" rating on the stock in a research note on Monday, August 3rd. Finally, Susquehanna decreased their price objective on Universal Display from $110.00 to $90.00 and set a "neutral" rating on the stock in a report 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's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $116.33.

Universal Display Trading Down 2.5%

Shares of NASDAQ:OLED opened at $84.45 on Wednesday. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 20.45 and a beta of 1.54. Universal Display Corporation has a 12 month low of $76.42 and a 12 month high of $153.38. The company has a 50-day moving average price of $84.60 and a 200 day moving average price of $94.37.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.03. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The company had revenue of $152.16 million for the quarter, compared to analysts' expectations of $157.54 million. During the same period in the previous year, the firm posted $1.41 earnings per share. The firm's revenue for the quarter was down 11.4% on a year-over-year basis. As a group, equities analysts forecast that Universal Display Corporation will post 4.18 EPS for the current year.

Universal Display Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.50 per share. 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%.

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.

Want to see what other hedge funds are holding OLED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Display Corporation (NASDAQ:OLED - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source