Pacer Advisors Inc. Sells 65 Shares of Universal Display Co. (NASDAQ:OLED)

Pacer Advisors Inc. lowered its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,554 shares of the semiconductor company’s stock after selling 65 shares during the period. Pacer Advisors Inc.’s holdings in Universal Display were worth $1,378,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. SageView Advisory Group LLC purchased a new position in Universal Display during the first quarter valued at $1,179,000. Montag A & Associates Inc. boosted its stake in Universal Display by 28.9% in the 1st quarter. Montag A & Associates Inc. now owns 11,848 shares of the semiconductor company’s stock worth $1,996,000 after purchasing an additional 2,655 shares in the last quarter. Tidal Investments LLC grew its position in Universal Display by 172.0% during the 1st quarter. Tidal Investments LLC now owns 6,246 shares of the semiconductor company’s stock valued at $1,052,000 after purchasing an additional 3,950 shares during the last quarter. Eisler Capital US LLC purchased a new position in Universal Display in the fourth quarter worth about $2,222,000. Finally, Point72 Hong Kong Ltd purchased a new position in Universal Display in the fourth quarter worth about $10,934,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Roth Mkm raised 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. Needham & Company LLC lifted their price target on shares of Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Susquehanna boosted their price target on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Oppenheimer raised their price objective on shares of Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, July 3rd. Finally, The Goldman Sachs Group increased their price target on Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Universal Display has an average rating of “Moderate Buy” and a consensus target price of $225.88.

Universal Display Stock Performance

Shares of NASDAQ OLED opened at $207.64 on Friday. The business has a 50-day simple moving average of $197.17 and a two-hundred day simple moving average of $186.73. Universal Display Co. has a fifty-two week low of $133.67 and a fifty-two week high of $237.00. The company has a market cap of $9.85 billion, a PE ratio of 45.14, a P/E/G ratio of 2.29 and a beta of 1.41.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.04). The firm had revenue of $158.50 million for the quarter, compared to analysts’ expectations of $159.46 million. Universal Display had a return on equity of 15.25% and a net margin of 35.74%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.04 earnings per share. On average, sell-side analysts predict that Universal Display Co. will post 4.81 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a yield of 0.77%. Universal Display’s payout ratio is presently 34.78%.

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.