Gotham Asset Management LLC Buys 87,049 Shares of Universal Display Corporation $OLED

Gotham Asset Management LLC boosted its stake in shares of Universal Display Corporation (NASDAQ:OLED) by 88.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,829 shares of the semiconductor company’s stock after acquiring an additional 87,049 shares during the quarter. Gotham Asset Management LLC’s holdings in Universal Display were worth $26,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. HM Payson & Co. increased its stake in Universal Display by 10.7% in the 3rd quarter. HM Payson & Co. now owns 734 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 71 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Universal Display by 27.2% during the third quarter. Farther Finance Advisors LLC now owns 351 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 75 shares during the period. Rise Advisors LLC grew its holdings in shares of Universal Display by 53.3% in the third quarter. Rise Advisors LLC now owns 299 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 104 shares during the last quarter. Certuity LLC grew its holdings in shares of Universal Display by 4.3% in the third quarter. Certuity LLC now owns 2,556 shares of the semiconductor company’s stock worth $367,000 after purchasing an additional 105 shares during the last quarter. Finally, Money Concepts Capital Corp increased its stake in shares of Universal Display by 0.7% in the third quarter. Money Concepts Capital Corp now owns 15,602 shares of the semiconductor company’s stock worth $2,241,000 after buying an additional 115 shares during the period. 78.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OLED has been the subject of a number of recent analyst reports. Needham & Company LLC lowered their price target on shares of Universal Display from $150.00 to $145.00 and set a “buy” rating for the company in a report on Friday, February 20th. Roth Mkm reissued a “buy” rating and issued a $180.00 price target on shares of Universal Display in a report on Friday, February 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Universal Display in a research report on Wednesday, December 24th. Wall Street Zen raised shares of Universal Display from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Finally, Zacks Research lowered shares of Universal Display from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $151.67.

Universal Display Stock Up 1.6%

Shares of Universal Display stock opened at $95.58 on Tuesday. The business has a 50 day moving average of $114.19 and a 200 day moving average of $125.78. Universal Display Corporation has a 52 week low of $93.03 and a 52 week high of $163.21. The company has a market cap of $4.50 billion, a PE ratio of 18.85, a P/E/G ratio of 7.39 and a beta of 1.65.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, February 19th. The semiconductor company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.11. The business had revenue of $172.93 million for the quarter, compared to analysts’ expectations of $173.35 million. Universal Display had a net margin of 37.21% and a return on equity of 14.07%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.22 earnings per share. On average, research analysts anticipate that Universal Display Corporation will post 4.71 earnings per share for the current year.

Universal Display Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, March 17th. This is a positive change from Universal Display’s previous quarterly dividend of $0.45. Universal Display’s payout ratio is presently 35.50%.

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.