Aquatic Capital Management LLC Acquires 25,705 Shares of Universal Display Corporation $OLED

Aquatic Capital Management LLC grew its stake in Universal Display Corporation (NASDAQ:OLED) by 891.6% in the 3rd quarter, Holdings Channel reports. The firm owned 28,588 shares of the semiconductor company’s stock after purchasing an additional 25,705 shares during the period. Aquatic Capital Management LLC’s holdings in Universal Display were worth $4,106,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of OLED. Peregrine Investment Management Inc. boosted its position in shares of Universal Display by 24.7% during the third quarter. Peregrine Investment Management Inc. now owns 50,560 shares of the semiconductor company’s stock valued at $7,262,000 after purchasing an additional 10,000 shares in the last quarter. Truist Financial Corp raised its holdings in Universal Display by 54.7% in the third quarter. Truist Financial Corp now owns 63,262 shares of the semiconductor company’s stock worth $9,086,000 after purchasing an additional 22,380 shares in the last quarter. Baker Avenue Asset Management LP bought a new position in Universal Display in the second quarter worth $1,398,000. Creative Planning lifted its position in Universal Display by 12.7% during the second quarter. Creative Planning now owns 19,847 shares of the semiconductor company’s stock valued at $3,066,000 after buying an additional 2,239 shares during the period. Finally, AI Squared Management Ltd purchased a new position in Universal Display during the third quarter valued at $5,515,000. Institutional investors own 78.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on OLED shares. Citigroup decreased their price target on shares of Universal Display from $150.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, January 27th. Needham & Company LLC dropped their price objective on shares of Universal Display from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Zacks Research downgraded shares of Universal Display from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a report on Wednesday, December 24th. Finally, Roth Mkm reissued a “buy” rating and issued a $180.00 price target on shares of Universal Display in a research report on Friday, February 20th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $151.67.

Universal Display Price Performance

OLED opened at $95.58 on Tuesday. The firm has a market cap of $4.50 billion, a PE ratio of 18.85, a P/E/G ratio of 7.39 and a beta of 1.65. The stock has a 50-day moving average price of $114.19 and a 200-day moving average price of $125.78. Universal Display Corporation has a 1 year low of $93.03 and a 1 year high of $163.21.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, February 19th. The semiconductor company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.28 by $0.11. The company had revenue of $172.93 million for the quarter, compared to the consensus estimate of $173.35 million. Universal Display had a net margin of 37.21% and a return on equity of 14.07%. Universal Display’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.22 EPS. As a group, sell-side analysts anticipate that Universal Display Corporation will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, March 17th. This is a positive change from Universal Display’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.1%. Universal Display’s dividend payout ratio is currently 35.50%.

Universal Display Company Profile

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.