Chesapeake Capital Corp IL Lowers Stock Holdings in Universal Display Co. (NASDAQ:OLED)

Chesapeake Capital Corp IL lessened its position in Universal Display Co. (NASDAQ:OLED) by 51.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,953 shares of the semiconductor company’s stock after selling 2,067 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Universal Display were worth $411,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SageView Advisory Group LLC acquired a new stake in shares of Universal Display during the first quarter worth about $1,179,000. Weiss Asset Management LP purchased a new position in Universal Display in the 4th quarter valued at approximately $1,602,000. Montag A & Associates Inc. grew its stake in shares of Universal Display by 28.9% in the first quarter. Montag A & Associates Inc. now owns 11,848 shares of the semiconductor company’s stock worth $1,996,000 after acquiring an additional 2,655 shares in the last quarter. Tidal Investments LLC increased its position in shares of Universal Display by 172.0% during the first quarter. Tidal Investments LLC now owns 6,246 shares of the semiconductor company’s stock worth $1,052,000 after acquiring an additional 3,950 shares during the period. Finally, Eisler Capital US LLC acquired a new stake in shares of Universal Display in the fourth quarter valued at $2,222,000. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Universal Display Stock Performance

OLED stock opened at $190.24 on Tuesday. Universal Display Co. has a one year low of $133.67 and a one year high of $237.00. The company has a fifty day moving average of $201.31 and a 200-day moving average of $183.72. The stock has a market capitalization of $9.03 billion, a PE ratio of 41.36, a price-to-earnings-growth ratio of 1.97 and a beta of 1.41.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). The business 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 revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.04 EPS. Equities analysts forecast that Universal Display Co. will post 4.81 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.84%. Universal Display’s dividend payout ratio (DPR) is presently 34.78%.

Wall Street Analysts Forecast Growth

OLED has been the topic of several recent research reports. Needham & Company LLC upped their price target on Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Oppenheimer boosted their target price on shares of Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 3rd. Susquehanna raised their price objective on shares of Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Roth Mkm upped their target price on shares of Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, TD Cowen lifted their price target on shares of Universal Display from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $225.88.

Universal Display Company 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.