Analog Century Management LP Makes New $46.91 Million Investment in Universal Display Corporation $OLED

Analog Century Management LP purchased a new position in shares of Universal Display Corporation (NASDAQ:OLED) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 401,726 shares of the semiconductor company’s stock, valued at approximately $46,914,000. Universal Display comprises approximately 2.3% of Analog Century Management LP’s investment portfolio, making the stock its 23rd largest holding. Analog Century Management LP owned about 0.85% of Universal Display at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in OLED. Norges Bank bought a new stake in Universal Display during the fourth quarter worth about $92,756,000. Vanguard Group Inc. lifted its stake in Universal Display by 10.0% during the third quarter. Vanguard Group Inc. now owns 5,069,107 shares of the semiconductor company’s stock worth $728,076,000 after purchasing an additional 460,792 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Universal Display by 86.4% during the fourth quarter. JPMorgan Chase & Co. now owns 880,678 shares of the semiconductor company’s stock worth $102,846,000 after purchasing an additional 408,315 shares during the last quarter. UBS Group AG lifted its stake in Universal Display by 100.8% during the fourth quarter. UBS Group AG now owns 646,787 shares of the semiconductor company’s stock worth $75,532,000 after purchasing an additional 324,677 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its stake in Universal Display by 63.2% during the second quarter. Rafferty Asset Management LLC now owns 574,161 shares of the semiconductor company’s stock worth $88,685,000 after purchasing an additional 222,327 shares during the last quarter. Institutional investors own 78.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OLED. Roth Mkm set a $168.00 target price on Universal Display in a research note on Friday, May 1st. Wall Street Zen raised Universal Display from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Oppenheimer lowered their target price on Universal Display from $160.00 to $130.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Zacks Research lowered Universal Display from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Finally, Citigroup lowered their target price on Universal Display from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $130.60.

Universal Display Trading Up 1.8%

NASDAQ OLED opened at $91.46 on Friday. Universal Display Corporation has a 1-year low of $83.64 and a 1-year high of $162.36. The stock has a 50-day moving average of $93.14 and a 200-day moving average of $106.16. The firm has a market cap of $4.28 billion, a PE ratio of 20.42 and a beta of 1.54.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.37). Universal Display had a net margin of 34.08% and a return on equity of 12.34%. The business had revenue of $142.21 million for the quarter, compared to analysts’ expectations of $161.23 million. During the same quarter in the prior year, the firm earned $1.35 EPS. The firm’s revenue for the quarter was down 14.5% on a year-over-year basis. As a group, equities research analysts forecast that Universal Display Corporation will post 4.23 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, June 16th. Universal Display’s payout ratio is currently 44.64%.

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.