Deprince Race & Zollo Inc. Purchases Shares of 229,490 Universal Display Corporation $OLED

Deprince Race & Zollo Inc. purchased a new position in Universal Display Corporation (NASDAQ:OLED) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 229,490 shares of the semiconductor company’s stock, valued at approximately $32,962,000.

A number of other institutional investors have also recently made changes to their positions in OLED. Primecap Management Co. CA increased its holdings in shares of Universal Display by 20.7% in the second quarter. Primecap Management Co. CA now owns 2,215,308 shares of the semiconductor company’s stock worth $342,176,000 after purchasing an additional 379,586 shares during the last quarter. Norges Bank purchased a new position in Universal Display during the 2nd quarter valued at approximately $124,480,000. First Trust Advisors LP increased its stake in Universal Display by 14.9% in the 2nd quarter. First Trust Advisors LP now owns 699,412 shares of the semiconductor company’s stock worth $108,031,000 after acquiring an additional 90,766 shares during the last quarter. Greenhouse Funds LLLP raised its holdings in shares of Universal Display by 14.4% during the 2nd quarter. Greenhouse Funds LLLP now owns 644,146 shares of the semiconductor company’s stock worth $99,495,000 after acquiring an additional 81,025 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its position in shares of Universal Display by 63.2% during the 2nd quarter. Rafferty Asset Management LLC now owns 574,161 shares of the semiconductor company’s stock valued at $88,685,000 after acquiring an additional 222,327 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Stock Up 0.4%

NASDAQ OLED opened at $119.60 on Friday. Universal Display Corporation has a 52 week low of $103.70 and a 52 week high of $164.29. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 3.67 and a beta of 1.62. The company has a fifty day moving average of $126.14 and a two-hundred day moving average of $139.54.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.27). Universal Display had a return on equity of 14.10% and a net margin of 34.65%.The firm had revenue of $139.61 million during the quarter, compared to the consensus estimate of $165.56 million. During the same quarter last year, the business posted $1.40 EPS. Universal Display’s revenue was down 13.6% compared to the same quarter last year. Equities research analysts anticipate that Universal Display Corporation will post 4.71 EPS for the current year.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Wednesday, December 17th. Universal Display’s payout ratio is 38.79%.

Analysts Set New Price Targets

Several brokerages recently weighed in on OLED. Zacks Research cut shares of Universal Display from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Weiss Ratings restated a “hold (c-)” rating on shares of Universal Display in a report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $150.00 target price on shares of Universal Display in a research report on Monday, December 22nd. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $181.33.

About Universal Display

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.