Candriam S.C.A. Increases Stock Position in Universal Display Co. (NASDAQ:OLED)

Candriam S.C.A. lifted its holdings in Universal Display Co. (NASDAQ:OLED) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,767 shares of the semiconductor company’s stock after buying an additional 539 shares during the quarter. Candriam S.C.A.’s holdings in Universal Display were worth $41,999,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Peapack Gladstone Financial Corp boosted its holdings in Universal Display by 1.8% in the fourth quarter. Peapack Gladstone Financial Corp now owns 3,367 shares of the semiconductor company’s stock worth $643,000 after acquiring an additional 60 shares in the last quarter. Red Spruce Capital LLC increased its stake in Universal Display by 0.7% during the 2nd quarter. Red Spruce Capital LLC now owns 11,146 shares of the semiconductor company’s stock valued at $2,343,000 after purchasing an additional 76 shares in the last quarter. 1492 Capital Management LLC raised its holdings in Universal Display by 0.8% in the fourth quarter. 1492 Capital Management LLC now owns 9,543 shares of the semiconductor company’s stock worth $1,825,000 after buying an additional 79 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Universal Display by 7.6% during the second quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company’s stock valued at $284,000 after buying an additional 96 shares during the last quarter. Finally, Spire Wealth Management increased its position in shares of Universal Display by 11.1% during the first quarter. Spire Wealth Management now owns 1,000 shares of the semiconductor company’s stock valued at $168,000 after acquiring an additional 100 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on OLED shares. Needham & Company LLC increased their price objective on Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Susquehanna lifted their price objective on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Oppenheimer increased their price target on Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 3rd. The Goldman Sachs Group upped their target price on shares of Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, TD Cowen raised their target price on shares of Universal Display from $210.00 to $250.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $225.88.

Universal Display Price Performance

OLED opened at $184.62 on Friday. The firm has a fifty day moving average price of $201.68 and a 200 day moving average price of $183.71. Universal Display Co. has a 1 year low of $133.67 and a 1 year high of $237.00. The stock has a market cap of $8.76 billion, a P/E ratio of 40.13, a P/E/G ratio of 1.99 and a beta of 1.41.

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

Universal Display Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 0.87%. Universal Display’s dividend payout ratio is presently 34.78%.

Universal Display 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.