Canada Pension Plan Investment Board Makes New $31.80 Million Investment in Universal Display Corporation $OLED

Canada Pension Plan Investment Board acquired a new stake in shares of Universal Display Corporation (NASDAQ:OLED) during the 2nd quarter, HoldingsChannel reports. The fund acquired 367,206 shares of the semiconductor company’s stock, valued at approximately $31,796,000.

Several other institutional investors have also modified their holdings of OLED. Focus Partners Wealth lifted its stake in Universal Display by 6.4% in the 1st quarter. Focus Partners Wealth now owns 3,680 shares of the semiconductor company’s stock valued at $513,000 after buying an additional 221 shares in the last quarter. American Century Companies Inc. increased its stake in Universal Display by 2.3% during the 2nd quarter. American Century Companies Inc. now owns 12,766 shares of the semiconductor company’s stock worth $1,972,000 after buying an additional 285 shares in the last quarter. Invesco Ltd. increased its stake in Universal Display by 1.8% during the 2nd quarter. Invesco Ltd. now owns 112,982 shares of the semiconductor company’s stock worth $17,451,000 after buying an additional 2,040 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Universal Display during the second quarter valued at approximately $2,220,000. Finally, Cresset Asset Management LLC lifted its position in shares of Universal Display by 64.2% in the second quarter. Cresset Asset Management LLC now owns 2,512 shares of the semiconductor company’s stock valued at $388,000 after acquiring an additional 982 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Price Performance

OLED opened at $82.98 on Friday. The company’s 50 day simple moving average is $84.07 and its two-hundred day simple moving average is $92.78. Universal Display Corporation has a 1-year low of $76.42 and a 1-year high of $153.38. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 20.09 and a beta of 1.54.

Universal Display (NASDAQ:OLED) last issued its earnings results 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. The business had revenue of $152.16 million for the quarter, compared to analysts’ expectations of $157.54 million. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The business’s revenue for the quarter was down 11.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.41 EPS. On average, equities analysts anticipate that Universal Display Corporation will post 4.17 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a dividend of $0.50 per share. The ex-dividend date 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 (DPR) is presently 48.43%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on OLED shares. Needham & Company LLC lowered their price target 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. BTIG Research downgraded Universal Display to a “neutral” rating in a research note on Friday, July 31st. 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. Weiss Ratings cut shares of Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Finally, Citigroup dropped their target price 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. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Universal Display currently has an average rating of “Hold” and a consensus price target of $116.33.

Universal Display Company 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.