Townsquare Capital LLC Buys 2,499 Shares of Universal Display Corporation (NASDAQ:OLED)

Key Points

• Townsquare Capital LLC increased its holdings in Universal Display Corporation by 16.9%, purchasing an additional 2,499 shares, bringing their total to 17,264 shares worth approximately $2.4 million.
• The company recently reported earnings of $1.41 per share, surpassing analysts' expectations of $1.18, along with a revenue of $171.79 million, which was higher than the consensus estimate.
• Universal Display is set to pay a quarterly dividend of $0.45 per share on September 30, representing an annualized yield of 1.3% and a payout ratio of 35.16%.

Townsquare Capital LLC increased its stake in Universal Display Corporation (NASDAQ:OLED - Free Report) by 16.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,264 shares of the semiconductor company's stock after buying an additional 2,499 shares during the period. Townsquare Capital LLC's holdings in Universal Display were worth $2,408,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Universal Display by 5.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 139,646 shares of the semiconductor company's stock valued at $19,478,000 after purchasing an additional 6,604 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Universal Display by 44.2% in the first quarter. Envestnet Asset Management Inc. now owns 286,320 shares of the semiconductor company's stock worth $39,936,000 after purchasing an additional 87,801 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Universal Display in the first quarter worth approximately $242,000. DAVENPORT & Co LLC purchased a new stake in Universal Display in the first quarter worth approximately $377,000. Finally, GAMMA Investing LLC boosted its holdings in Universal Display by 134.1% in the first quarter. GAMMA Investing LLC now owns 962 shares of the semiconductor company's stock worth $134,000 after purchasing an additional 551 shares during the last quarter. 78.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OLED. Needham & Company LLC restated a "buy" rating and issued a $170.00 target price on shares of Universal Display in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Universal Display from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $190.43.

Universal Display Price Performance

Shares of Universal Display stock traded down $2.11 during trading hours on Friday, reaching $141.47. The company's stock had a trading volume of 494,156 shares, compared to its average volume of 527,663. The firm has a 50 day moving average price of $151.19 and a 200-day moving average price of $144.58. Universal Display Corporation has a one year low of $103.70 and a one year high of $215.90. The stock has a market cap of $6.72 billion, a P/E ratio of 27.63, a P/E/G ratio of 1.51 and a beta of 1.47.

Universal Display (NASDAQ:OLED - Get Free Report) last posted its earnings results on Thursday, July 31st. The semiconductor company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.18 by $0.23. Universal Display had a net margin of 36.95% and a return on equity of 15.82%. The firm had revenue of $171.79 million for the quarter, compared to the consensus estimate of $161.58 million. During the same period in the previous year, the firm posted $1.10 EPS. The business's quarterly revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts forecast that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, September 16th. Universal Display's dividend payout ratio is presently 35.16%.

Universal Display Profile

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.