Universal Display Corporation $OLED Holdings Increased by Greenhouse Funds LLLP

Greenhouse Funds LLLP raised its holdings in shares of Universal Display Corporation (NASDAQ:OLED) by 12.6% in the 3rd quarter, Holdings Channel reports. The firm owned 725,278 shares of the semiconductor company’s stock after purchasing an additional 81,132 shares during the quarter. Universal Display accounts for 3.8% of Greenhouse Funds LLLP’s holdings, making the stock its 6th biggest holding. Greenhouse Funds LLLP’s holdings in Universal Display were worth $104,172,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Peregrine Investment Management Inc. boosted its position in Universal Display by 24.7% in the 3rd quarter. Peregrine Investment Management Inc. now owns 50,560 shares of the semiconductor company’s stock valued at $7,262,000 after buying an additional 10,000 shares during the period. Truist Financial Corp grew its stake in Universal Display by 54.7% in the 3rd quarter. Truist Financial Corp now owns 63,262 shares of the semiconductor company’s stock worth $9,086,000 after acquiring an additional 22,380 shares in the last quarter. Baker Avenue Asset Management LP purchased a new position in shares of Universal Display during the second quarter worth approximately $1,398,000. Creative Planning raised its stake in shares of Universal Display by 12.7% during the second quarter. Creative Planning now owns 19,847 shares of the semiconductor company’s stock valued at $3,066,000 after acquiring an additional 2,239 shares in the last quarter. Finally, AI Squared Management Ltd bought a new stake in shares of Universal Display during the third quarter valued at approximately $5,515,000. 78.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OLED. Needham & Company LLC lowered their price target on Universal Display from $150.00 to $145.00 and set a “buy” rating for the company in a report on Friday, February 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Universal Display in a research report on Wednesday, December 24th. Roth Mkm reiterated a “buy” rating and issued a $180.00 target price on shares of Universal Display in a report on Friday, February 20th. Wall Street Zen raised Universal Display from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Finally, Citigroup cut their price target on Universal Display from $150.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 27th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $151.67.

Universal Display Stock Performance

NASDAQ OLED opened at $98.46 on Thursday. The firm’s 50 day moving average price is $115.74 and its 200-day moving average price is $126.89. Universal Display Corporation has a 52-week low of $93.50 and a 52-week high of $163.21. The company has a market cap of $4.64 billion, a PE ratio of 19.42, a P/E/G ratio of 7.44 and a beta of 1.65.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, February 19th. The semiconductor company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.11. The company had revenue of $172.93 million during the quarter, compared to the consensus estimate of $173.35 million. Universal Display had a net margin of 37.21% and a return on equity of 14.07%. Universal Display’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.22 earnings per share. On average, analysts forecast that Universal Display Corporation will post 4.71 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Universal Display’s previous quarterly dividend of $0.45. Universal Display’s dividend payout ratio (DPR) is 35.50%.

Universal Display Profile

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.