Red Spruce Capital LLC Acquires 13,610 Shares of Universal Display Corporation $OLED

Red Spruce Capital LLC grew its holdings in shares of Universal Display Corporation (NASDAQ:OLED) by 119.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,968 shares of the semiconductor company’s stock after buying an additional 13,610 shares during the quarter. Red Spruce Capital LLC’s holdings in Universal Display were worth $2,162,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Lido Advisors LLC lifted its stake in shares of Universal Display by 1.7% in the 3rd quarter. Lido Advisors LLC now owns 5,783 shares of the semiconductor company’s stock valued at $831,000 after purchasing an additional 95 shares during the last quarter. Sigma Planning Corp boosted its holdings in Universal Display by 1.0% during the 4th quarter. Sigma Planning Corp now owns 10,390 shares of the semiconductor company’s stock valued at $1,210,000 after acquiring an additional 103 shares during the period. Certuity LLC boosted its holdings in Universal Display by 4.3% during the 3rd quarter. Certuity LLC now owns 2,556 shares of the semiconductor company’s stock valued at $367,000 after acquiring an additional 105 shares during the period. U.S. Capital Wealth Advisors LLC grew its position in Universal Display by 2.8% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 3,869 shares of the semiconductor company’s stock valued at $452,000 after acquiring an additional 107 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Universal Display by 5.7% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,999 shares of the semiconductor company’s stock valued at $287,000 after acquiring an additional 108 shares during the last quarter. Institutional investors own 78.19% of the company’s stock.

Universal Display Stock Performance

NASDAQ:OLED opened at $87.25 on Friday. The firm has a 50-day simple moving average of $84.75 and a 200-day simple moving average of $95.94. Universal Display Corporation has a one year low of $76.42 and a one year high of $153.38. The firm has a market cap of $4.01 billion, a P/E ratio of 21.13 and a beta of 1.54.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.03. The company had revenue of $152.16 million for the quarter, compared to analyst estimates of $157.54 million. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. Universal Display’s revenue was down 11.4% compared to the same quarter last year. During the same period last year, the company posted $1.41 earnings per share. On average, research analysts predict that Universal Display Corporation will post 4.18 EPS for the current fiscal year.

Universal Display Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.3%. The ex-dividend date is Wednesday, September 16th. Universal Display’s payout ratio is 48.43%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on OLED. The Goldman Sachs Group set a $135.00 price target on shares of Universal Display in a report on Tuesday, April 21st. Oppenheimer reiterated an “outperform” rating and issued a $120.00 price target (down from $130.00) on shares of Universal Display in a report on Friday, July 31st. Susquehanna dropped their price objective on Universal Display from $110.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. Zacks Research downgraded Universal Display from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Finally, Citigroup lowered their target price on Universal Display from $100.00 to $85.00 and set a “neutral” rating for the company in a report on Monday. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently 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.