The Manufacturers Life Insurance Company Makes New $2.62 Million Investment in Universal Display Corporation $OLED

The Manufacturers Life Insurance Company bought a new position in Universal Display Corporation (NASDAQ:OLED) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 30,309 shares of the semiconductor company’s stock, valued at approximately $2,624,000. The Manufacturers Life Insurance Company owned about 0.07% of Universal Display as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC bought a new position in shares of Universal Display in the 3rd quarter valued at about $33,000. RHL Group LLC bought a new stake in Universal Display during the fourth quarter worth approximately $60,000. Canada Pension Plan Investment Board purchased a new stake in Universal Display during the second quarter valued at approximately $62,000. UMB Bank n.a. lifted its stake in shares of Universal Display by 28.3% in the 4th quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company’s stock valued at $64,000 after purchasing an additional 121 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Universal Display in the 4th quarter worth approximately $75,000. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OLED has been the topic of several recent research reports. Susquehanna decreased their price target on Universal Display from $110.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Zacks Research raised shares of Universal Display from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Oppenheimer reiterated an “outperform” rating and set a $120.00 price objective (down from $130.00) on shares of Universal Display in a research report on Friday, July 31st. Citigroup reduced their target price on shares of Universal Display from $100.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. Finally, Weiss Ratings cut shares of Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $116.33.

Universal Display Stock Up 1.4%

OLED opened at $83.56 on Thursday. The business has a fifty day moving average of $83.77 and a 200 day moving average of $91.57. Universal Display Corporation has a 52-week low of $76.42 and a 52-week high of $153.38. The stock has a market cap of $3.84 billion, a P/E ratio of 20.23 and a beta of 1.56.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The business had revenue of $152.16 million for the quarter, compared to analyst estimates of $157.54 million. During the same quarter last year, the firm posted $1.41 earnings per share. The business’s revenue was down 11.4% compared to the same quarter last year. Equities analysts anticipate that Universal Display Corporation will post 4.17 EPS for the current fiscal year.

Universal Display Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, September 16th. Universal Display’s dividend payout ratio (DPR) is currently 48.43%.

Universal Display 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.