Harbor Capital Advisors Inc. Has $2.11 Million Holdings in Universal Display Co. (NASDAQ:OLED)

Harbor Capital Advisors Inc. grew its position in Universal Display Co. (NASDAQ:OLED) by 375.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,043 shares of the semiconductor company’s stock after purchasing an additional 7,929 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Universal Display were worth $2,112,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. bought a new position in shares of Universal Display in the fourth quarter valued at approximately $25,000. ORG Partners LLC bought a new position in Universal Display during the first quarter valued at about $27,000. Principal Securities Inc. purchased a new position in Universal Display in the fourth quarter valued at about $34,000. Tsfg LLC bought a new position in shares of Universal Display during the 1st quarter valued at approximately $34,000. Finally, University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Universal Display during the 4th quarter worth approximately $35,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OLED has been the topic of several research reports. TD Cowen boosted their price target on shares of Universal Display from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Susquehanna boosted their price objective on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Oppenheimer lifted their target price on Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, July 3rd. The Goldman Sachs Group upped their target price on shares of Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, Roth Mkm boosted their price target on shares of Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $225.88.

Universal Display Stock Performance

Shares of Universal Display stock traded down $8.99 during midday trading on Wednesday, reaching $159.01. 464,541 shares of the company’s stock traded hands, compared to its average volume of 329,525. The stock has a 50 day moving average of $206.79 and a 200-day moving average of $182.74. The company has a market cap of $7.54 billion, a PE ratio of 34.26, a price-to-earnings-growth ratio of 1.86 and a beta of 1.42. Universal Display Co. has a 12 month low of $133.67 and a 12 month high of $237.00.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.04). Universal Display had a return on equity of 15.48% and a net margin of 35.74%. The company had revenue of $158.50 million during the quarter, compared to analysts’ expectations of $159.46 million. During the same quarter last year, the business earned $1.04 earnings per share. The business’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities analysts anticipate that Universal Display Co. will post 4.78 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 1.01%. Universal Display’s payout ratio is currently 34.78%.

Universal Display 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.