Chesapeake Capital Corp IL Cuts Stock Position in Universal Display Co. (NASDAQ:OLED)

Chesapeake Capital Corp IL decreased its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 51.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Universal Display during the 4th quarter valued at about $101,088,000. Janus Henderson Group PLC boosted its holdings in shares of Universal Display by 66.6% in the 1st quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock worth $73,099,000 after purchasing an additional 173,496 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of Universal Display during the 2nd quarter valued at approximately $23,500,000. Van ECK Associates Corp lifted its position in Universal Display by 33.5% in the first quarter. Van ECK Associates Corp now owns 360,714 shares of the semiconductor company’s stock worth $60,762,000 after buying an additional 90,530 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Universal Display by 20.7% during the fourth quarter. First Trust Advisors LP now owns 449,628 shares of the semiconductor company’s stock worth $85,996,000 after buying an additional 76,967 shares during the period. Institutional investors own 78.19% of the company’s stock.

Universal Display Trading Up 3.0 %

Shares of OLED opened at $190.24 on Tuesday. Universal Display Co. has a 12 month low of $133.67 and a 12 month high of $237.00. The firm has a market cap of $9.03 billion, a PE ratio of 41.36, a P/E/G ratio of 1.97 and a beta of 1.41. The stock has a fifty day moving average price of $201.31 and a 200-day moving average price of $183.72.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). The business had revenue of $158.50 million for the quarter, compared to analysts’ expectations of $159.46 million. Universal Display had a return on equity of 15.25% and a net margin of 35.74%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.04 earnings per share. As a group, research analysts forecast 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 given a dividend of $0.40 per share. The ex-dividend date is Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 0.84%. Universal Display’s dividend payout ratio (DPR) is presently 34.78%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OLED. Roth Mkm raised their target price on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Susquehanna raised their price target on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. TD Cowen upped their price objective on Universal Display from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Needham & Company LLC boosted their target price on shares of Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Finally, The Goldman Sachs Group upped their price target on shares of Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Universal Display presently has a consensus rating of “Moderate Buy” and an average target price 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.