Sanctuary Advisors LLC Makes New Investment in Universal Display Corporation $OLED

Key Points

• Sanctuary Advisors LLC initiated a position in Universal Display, purchasing 11,817 shares valued at about $1.02 million. Institutional investors collectively own 78.19% of the company.
• Analysts have become more cautious, with several brokerages lowering price targets. The stock has a consensus “Hold” rating and an average price target of $116.33.
• Universal Display exceeded quarterly earnings expectations with $1.06 in EPS, but revenue fell 11.4% year over year to $152.16 million. The company also declared a quarterly dividend of $0.50 per share, representing a 2.4% annualized yield.

Sanctuary Advisors LLC bought 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 SEC. The fund bought 11,817 shares of the semiconductor company's stock, valued at approximately $1,023,000.

A number of other institutional investors and hedge funds also recently modified their holdings of OLED. Measured Wealth Private Client Group LLC acquired a new stake in shares of Universal Display in the 3rd quarter valued at approximately $33,000. Canada Pension Plan Investment Board acquired a new position in Universal Display during the second quarter valued at approximately $62,000. RHL Group LLC acquired a new position in Universal Display during the fourth quarter valued at approximately $60,000. UMB Bank n.a. increased its stake in Universal Display by 28.3% in 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 stake in Universal Display in the fourth quarter valued at approximately $75,000. 78.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OLED. BTIG Research cut shares of Universal Display to a "neutral" rating in a research report on Friday, July 31st. Citigroup decreased their price target on shares of Universal Display from $100.00 to $85.00 and set a "neutral" rating for the company in a report on Monday, August 3rd. Susquehanna lowered their price objective on shares of Universal Display from $110.00 to $90.00 and set a "neutral" rating for the company in a research report on Friday, July 31st. Oppenheimer reaffirmed an "outperform" rating and set a $120.00 price objective (down from $130.00) on shares of Universal Display in a research note on Friday, July 31st. Finally, Roth Capital set a $168.00 target price on Universal Display in a report on Friday, May 1st. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $116.33.

Universal Display Stock Performance

Shares of OLED opened at $84.85 on Friday. Universal Display Corporation has a twelve month low of $76.42 and a twelve month high of $153.38. The firm's 50 day moving average price is $84.19 and its two-hundred day moving average price is $92.85. The firm has a market cap of $3.90 billion, a P/E ratio of 20.54 and a beta of 1.54.

Universal Display (NASDAQ:OLED - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share for the quarter, beating 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 analysts' expectations of $157.54 million. During the same quarter in the prior year, the company earned $1.41 earnings per share. The business's quarterly revenue was down 11.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Universal Display Corporation will post 4.17 earnings per share for the current fiscal 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 paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis 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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