Landscape Capital Management L.L.C. Takes $551,000 Position in Universal Display Corporation $OLED

Landscape Capital Management L.L.C. purchased a new position in shares of Universal Display Corporation (NASDAQ:OLED) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,360 shares of the semiconductor company’s stock, valued at approximately $551,000.

Several other institutional investors and hedge funds have also modified their holdings of OLED. BlackRock Inc. bought a new position in Universal Display in the second quarter valued at about $373,931,000. Norges Bank acquired a new position in Universal Display during the fourth quarter worth about $92,756,000. JPMorgan Chase & Co. lifted its holdings in shares of Universal Display by 86.4% in the fourth quarter. JPMorgan Chase & Co. now owns 880,678 shares of the semiconductor company’s stock worth $102,846,000 after acquiring an additional 408,315 shares during the last quarter. Analog Century Management LP bought a new position in shares of Universal Display in the fourth quarter worth about $46,914,000. Finally, UBS Group AG boosted its stake in shares of Universal Display by 100.8% in the 4th quarter. UBS Group AG now owns 646,787 shares of the semiconductor company’s stock valued at $75,532,000 after purchasing an additional 324,677 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

Universal Display Price Performance

Shares of OLED stock opened at $85.84 on Monday. The stock has a market capitalization of $3.95 billion, a PE ratio of 20.78 and a beta of 1.54. The business’s 50 day simple moving average is $84.40 and its 200 day simple moving average is $93.73. Universal Display Corporation has a one year low of $76.42 and a one year high of $153.38.

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

Universal Display Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 16th. Universal Display’s dividend payout ratio (DPR) is currently 48.43%.

Wall Street Analyst Weigh In

OLED has been the subject of a number of research analyst reports. Zacks Research upgraded shares of Universal Display from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Needham & Company LLC dropped their price objective on shares of Universal Display from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 31st. 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. Susquehanna lowered their price target on shares of Universal Display from $110.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, July 31st. Finally, Citigroup dropped their price target on Universal Display from $100.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $116.33.

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.