Pacer Advisors Inc. Acquires 3,052 Shares of Universal Display Corporation (NASDAQ:OLED)

Key Points

• Pacer Advisors Inc. increased its stake in Universal Display Corporation by 11.2%, owning approximately 0.06% of the company valued at $4.2 million as reported in its latest 13F filing.
• Universal Display's stock price has decreased by 2.1%, currently trading at $147.61, while the stock's market cap stands at $7.02 billion.
• Research analysts have a consensus target price of $190.43 for Universal Display, with a majority rating it as a "Moderate Buy" based on recent upgrades and ratings.

Pacer Advisors Inc. raised its position in Universal Display Corporation (NASDAQ:OLED - Free Report) by 11.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,298 shares of the semiconductor company's stock after purchasing an additional 3,052 shares during the period. Pacer Advisors Inc. owned about 0.06% of Universal Display worth $4,226,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Universal Display by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 4,784,099 shares of the semiconductor company's stock worth $699,435,000 after purchasing an additional 67,590 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in Universal Display by 2.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,536,513 shares of the semiconductor company's stock worth $370,838,000 after buying an additional 69,043 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Universal Display by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 901,315 shares of the semiconductor company's stock valued at $131,806,000 after buying an additional 101,963 shares during the last quarter. Norges Bank bought a new position in Universal Display in the 4th quarter valued at about $95,924,000. Finally, Greenhouse Funds LLLP raised its stake in shares of Universal Display by 11.2% in the 4th quarter. Greenhouse Funds LLLP now owns 583,603 shares of the semiconductor company's stock worth $85,323,000 after buying an additional 58,775 shares in the last quarter. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Universal Display Stock Up 0.0%

Shares of OLED traded up $0.06 during trading hours on Friday, reaching $144.46. The company's stock had a trading volume of 541,189 shares, compared to its average volume of 666,529. The company has a 50 day moving average of $152.43 and a two-hundred day moving average of $145.14. The firm has a market cap of $6.87 billion, a price-to-earnings ratio of 30.03, a P/E/G ratio of 1.59 and a beta of 1.51. Universal Display Corporation has a 1-year low of $103.70 and a 1-year high of $215.90.

Universal Display (NASDAQ:OLED - Get Free Report) last released its earnings results on Thursday, July 31st. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.21. The company had revenue of $171.79 million during the quarter, compared to the consensus estimate of $161.58 million. Universal Display had a net margin of 35.40% and a return on equity of 15.35%. The company's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.10 EPS. As a group, analysts forecast that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.2%. Universal Display's dividend payout ratio (DPR) is currently 37.42%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Wall Street Zen raised Universal Display from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd. Needham & Company LLC reissued a "buy" rating and issued a $170.00 target price on shares of Universal Display in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Universal Display currently has an average rating of "Moderate Buy" and an average price target of $190.43.

Universal Display Company 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.