Eagle Bay Advisors LLC Takes $126,000 Position in Universal Display Co. (NASDAQ:OLED)

Eagle Bay Advisors LLC bought a new position in shares of Universal Display Co. (NASDAQ:OLED) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 601 shares of the semiconductor company’s stock, valued at approximately $126,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Red Spruce Capital LLC lifted its holdings in shares of Universal Display by 0.7% during the second quarter. Red Spruce Capital LLC now owns 11,146 shares of the semiconductor company’s stock worth $2,343,000 after purchasing an additional 76 shares during the period. CIBC Asset Management Inc grew its position in shares of Universal Display by 7.6% in the 2nd quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company’s stock valued at $284,000 after buying an additional 96 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Universal Display by 42.1% in the third quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock valued at $68,000 after buying an additional 96 shares during the period. Bahl & Gaynor Inc. raised its position in shares of Universal Display by 0.5% during the first quarter. Bahl & Gaynor Inc. now owns 18,645 shares of the semiconductor company’s stock worth $3,141,000 after acquiring an additional 101 shares during the last quarter. Finally, Inspire Investing LLC lifted its stake in shares of Universal Display by 5.4% in the first quarter. Inspire Investing LLC now owns 2,107 shares of the semiconductor company’s stock worth $355,000 after acquiring an additional 108 shares during the period. 78.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on OLED shares. Susquehanna raised their price target on shares of Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Roth Mkm lifted their target price on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. TD Cowen increased their price target on Universal Display from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Oppenheimer lifted their price objective on Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 3rd. Finally, Needham & Company LLC upped their target price on Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $225.88.

Universal Display Stock Performance

Shares of NASDAQ OLED traded down $2.32 during midday trading on Wednesday, hitting $202.95. 38,013 shares of the stock traded hands, compared to its average volume of 360,465. Universal Display Co. has a one year low of $133.67 and a one year high of $237.00. The business has a 50 day moving average price of $199.86 and a two-hundred day moving average price of $192.40. The company has a market cap of $9.63 billion, a PE ratio of 44.05, a P/E/G ratio of 2.18 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.04). The business had revenue of $158.50 million for the quarter, compared to analyst estimates of $159.46 million. Universal Display had a return on equity of 15.25% and a net margin of 35.74%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.04 EPS. As a group, equities research analysts forecast that Universal Display Co. will post 4.81 EPS for the current fiscal year.

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Monday, September 16th. Universal Display’s dividend payout ratio (DPR) is presently 34.33%.

Universal Display Company Profile

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.