Brinker Capital Investments LLC Increases Stock Position in Universal Display Co. (NASDAQ:OLED)

Posted by Defense World Staff on May 4th, 2023

Brinker Capital Investments LLC boosted its stake in shares of Universal Display Co. (NASDAQ:OLED – Get Rating) by 34.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,460 shares of the semiconductor company’s stock after buying an additional 2,156 shares during the quarter. Brinker Capital Investments LLC’s holdings in Universal Display were worth $914,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of OLED. US Bancorp DE boosted its stake in Universal Display by 44.7% during the first quarter. US Bancorp DE now owns 2,947 shares of the semiconductor company’s stock worth $492,000 after buying an additional 911 shares during the period. HighTower Advisors LLC boosted its stake in shares of Universal Display by 2.0% in the first quarter. HighTower Advisors LLC now owns 9,647 shares of the semiconductor company’s stock valued at $1,610,000 after purchasing an additional 189 shares during the period. BlackRock Inc. boosted its stake in shares of Universal Display by 2.8% in the first quarter. BlackRock Inc. now owns 4,309,400 shares of the semiconductor company’s stock valued at $719,455,000 after purchasing an additional 117,055 shares during the period. Great West Life Assurance Co. Can boosted its stake in shares of Universal Display by 8.4% in the first quarter. Great West Life Assurance Co. Can now owns 24,038 shares of the semiconductor company’s stock valued at $4,121,000 after purchasing an additional 1,860 shares during the period. Finally, Yousif Capital Management LLC boosted its stake in shares of Universal Display by 1.1% in the first quarter. Yousif Capital Management LLC now owns 22,569 shares of the semiconductor company’s stock valued at $3,768,000 after purchasing an additional 239 shares during the period. Hedge funds and other institutional investors own 73.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OLED. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Universal Display from $130.00 to $150.00 in a research note on Thursday, February 16th. Susquehanna raised shares of Universal Display from a “negative” rating to a “neutral” rating and raised their price objective for the company from $82.00 to $135.00 in a research note on Thursday, January 19th. StockNews.com began coverage on shares of Universal Display in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $148.00 target price on shares of Universal Display in a report on Friday, February 24th. Finally, Cowen raised their target price on shares of Universal Display from $130.00 to $148.00 and gave the company an “outperform” rating in a report on Friday, February 24th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.90.

Universal Display Trading Down 2.0 %

OLED stock opened at $128.42 on Thursday. Universal Display Co. has a twelve month low of $89.41 and a twelve month high of $155.91. The company’s 50 day moving average is $142.28 and its two-hundred day moving average is $124.63. The stock has a market cap of $6.08 billion, a P/E ratio of 29.19, a PEG ratio of 2.28 and a beta of 1.41.

Universal Display (NASDAQ:OLED – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The semiconductor company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.43. Universal Display had a net margin of 34.07% and a return on equity of 17.56%. The company had revenue of $169.00 million for the quarter, compared to analysts’ expectations of $148.97 million. During the same quarter last year, the company earned $0.96 earnings per share. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, equities research analysts predict that Universal Display Co. will post 3.75 earnings per share for the current year.

Universal Display Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 17th were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, March 16th. This represents a $1.40 dividend on an annualized basis and a yield of 1.09%. This is a boost from Universal Display’s previous quarterly dividend of $0.30. Universal Display’s dividend payout ratio (DPR) is presently 31.82%.

Universal Display Profile

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Universal Display Corp. engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials. It also develops and licenses proprietary OLED technologies to manufacturers of products for display applications, such as cell phones, portable media devices, tablets, laptop computers and televisions, and specialty and general lighting products.