Eagle Bay Advisors LLC Purchases New Holdings in Universal Display Co. (NASDAQ:OLED)

Eagle Bay Advisors LLC acquired a new position in Universal Display Co. (NASDAQ:OLED) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 601 shares of the semiconductor company’s stock, valued at approximately $126,000.

Other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in Universal Display during the third quarter valued at about $31,000. ORG Partners LLC bought a new stake in shares of Universal Display during the 1st quarter valued at about $27,000. Tsfg LLC purchased a new position in Universal Display in the 1st quarter worth approximately $34,000. Itau Unibanco Holding S.A. purchased a new stake in Universal Display during the second quarter valued at about $44,000. Finally, Tortoise Investment Management LLC bought a new stake in Universal Display in the 2nd quarter worth approximately $47,000. Institutional investors own 78.19% of the company’s stock.

Universal Display Price Performance

Universal Display stock traded down $2.32 during trading hours on Wednesday, reaching $202.95. The stock had a trading volume of 38,013 shares, compared to its average volume of 360,465. The business’s 50 day moving average price is $199.86 and its 200-day moving average price is $192.40. Universal Display Co. has a 52 week low of $133.67 and a 52 week high of $237.00. The company has a market cap of $9.63 billion, a price-to-earnings ratio of 44.05, a PEG ratio of 2.18 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, August 1st. The semiconductor company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). The firm had revenue of $158.50 million during the quarter, compared to analysts’ expectations of $159.46 million. Universal Display had a net margin of 35.74% and a return on equity of 15.25%. Universal Display’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 EPS. On average, sell-side analysts forecast that Universal Display Co. will post 4.81 EPS for the current fiscal year.

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Monday, September 16th. Universal Display’s dividend payout ratio is presently 34.33%.

Analyst Ratings Changes

OLED has been the topic of several analyst reports. Susquehanna lifted their price objective on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Needham & Company LLC upped their target price on Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Oppenheimer upped their price objective on shares of Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, July 3rd. Roth Mkm raised their price target on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group increased their target price on Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $225.88.

About Universal Display

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.