Pacer Advisors Inc. Boosts Holdings in Universal Display Corporation $OLED

Pacer Advisors Inc. grew its position in Universal Display Corporation (NASDAQ:OLED) by 1,820.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,207 shares of the semiconductor company’s stock after buying an additional 107,311 shares during the period. Pacer Advisors Inc. owned 0.24% of Universal Display worth $13,220,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Stiles Financial Services Inc grew its stake in shares of Universal Display by 18.0% in the 4th quarter. Stiles Financial Services Inc now owns 1,864 shares of the semiconductor company’s stock valued at $218,000 after buying an additional 285 shares during the period. Ethic Inc. grew its stake in shares of Universal Display by 8.0% in the 4th quarter. Ethic Inc. now owns 4,399 shares of the semiconductor company’s stock valued at $514,000 after buying an additional 325 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Universal Display in the 4th quarter valued at approximately $252,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Universal Display in the 4th quarter valued at approximately $218,000. Finally, Bronte Capital Management Pty Ltd. purchased a new stake in shares of Universal Display in the 4th quarter valued at approximately $1,361,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on OLED shares. Roth Mkm set a $168.00 price target on shares of Universal Display in a research note on Friday, May 1st. Wall Street Zen raised shares of Universal Display from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Universal Display in a research report on Monday, March 23rd. Citigroup lowered their price objective on shares of Universal Display from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Finally, The Goldman Sachs Group set a $135.00 price objective on shares of Universal Display in a research report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Universal Display has an average rating of “Hold” and a consensus target price of $130.60.

Universal Display Stock Performance

NASDAQ:OLED opened at $90.79 on Thursday. The stock has a market capitalization of $4.24 billion, a P/E ratio of 20.27 and a beta of 1.54. The company has a 50 day moving average price of $95.03 and a 200 day moving average price of $112.03. Universal Display Corporation has a fifty-two week low of $83.64 and a fifty-two week high of $163.21.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.37). The company had revenue of $142.21 million for the quarter, compared to analysts’ expectations of $161.23 million. Universal Display had a return on equity of 12.34% and a net margin of 34.08%.The business’s revenue for the quarter was down 14.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.35 EPS. Research analysts forecast that Universal Display Corporation will post 4.4 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. Universal Display’s dividend payout ratio (DPR) is presently 44.64%.

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.