Universal Display Co. (NASDAQ:OLED) Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. raised its stake in Universal Display Co. (NASDAQ:OLED) by 375.1% in the second quarter, HoldingsChannel reports. The fund owned 10,043 shares of the semiconductor company’s stock after purchasing an additional 7,929 shares during the period. Harbor Capital Advisors Inc.’s holdings in Universal Display were worth $2,112,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. purchased a new position in Universal Display in the 4th quarter worth approximately $25,000. ORG Partners LLC acquired a new position in Universal Display during the first quarter worth $27,000. Principal Securities Inc. acquired a new position in Universal Display in the 4th quarter valued at about $34,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in Universal Display during the 4th quarter worth approximately $35,000. Finally, Cape Investment Advisory Inc. grew its stake in Universal Display by 1,977.8% during the 4th quarter. Cape Investment Advisory Inc. now owns 187 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 178 shares in the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Stock Down 5.4 %

NASDAQ OLED traded down $8.99 during trading hours on Wednesday, hitting $159.01. The company had a trading volume of 464,541 shares, compared to its average volume of 329,525. Universal Display Co. has a fifty-two week low of $133.67 and a fifty-two week high of $237.00. The business has a fifty day simple moving average of $206.79 and a 200-day simple moving average of $182.74. The firm has a market cap of $7.54 billion, a P/E ratio of 34.26, a price-to-earnings-growth ratio of 1.86 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last announced its 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). The firm had revenue of $158.50 million for the quarter, compared to the consensus estimate of $159.46 million. Universal Display had a net margin of 35.74% and a return on equity of 15.48%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.04 EPS. Equities analysts forecast that Universal Display Co. will post 4.78 EPS for the current fiscal year.

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.60 annualized dividend and a yield of 1.01%. Universal Display’s dividend payout ratio is presently 34.78%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Susquehanna raised their target price on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Needham & Company LLC boosted their target price on Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Oppenheimer raised their price objective on shares of Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, July 3rd. The Goldman Sachs Group boosted 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 price objective on Universal Display from $210.00 to $250.00 and gave the company 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 given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.88.

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.