AQR Capital Management LLC Has $13.18 Million Stock Position in Universal Display Co. (NASDAQ:OLED)

AQR Capital Management LLC grew its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 190.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 62,723 shares of the semiconductor company’s stock after purchasing an additional 41,154 shares during the period. AQR Capital Management LLC’s holdings in Universal Display were worth $13,178,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Albar Capital Ltd raised its position in Universal Display by 24.5% during the 2nd quarter. Albar Capital Ltd now owns 127,057 shares of the semiconductor company’s stock worth $26,714,000 after purchasing an additional 24,982 shares during the last quarter. Alpha DNA Investment Management LLC acquired a new position in shares of Universal Display in the second quarter worth approximately $386,000. Cubist Systematic Strategies LLC lifted its stake in shares of Universal Display by 1,123.4% in the second quarter. Cubist Systematic Strategies LLC now owns 21,531 shares of the semiconductor company’s stock worth $4,527,000 after acquiring an additional 19,771 shares during the period. Mill Creek Capital Advisors LLC boosted its holdings in Universal Display by 1.1% in the second quarter. Mill Creek Capital Advisors LLC now owns 13,802 shares of the semiconductor company’s stock valued at $2,902,000 after acquiring an additional 154 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in Universal Display during the 2nd quarter valued at approximately $44,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Susquehanna boosted their price target on shares of Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. TD Cowen boosted their target price on shares of Universal Display from $210.00 to $250.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Needham & Company LLC increased their price target on Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Roth Mkm lifted their price objective on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Oppenheimer upped their target price on Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, July 3rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.88.

Universal Display Price Performance

OLED stock opened at $203.37 on Wednesday. The company’s 50-day moving average is $196.05 and its 200-day moving average is $187.96. The stock has a market capitalization of $9.65 billion, a PE ratio of 44.21, a price-to-earnings-growth ratio of 2.20 and a beta of 1.41. Universal Display Co. has a 1 year low of $133.67 and a 1 year high of $237.00.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). The firm had revenue of $158.50 million during the quarter, compared to analyst estimates of $159.46 million. Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The company’s revenue was up 8.1% on a year-over-year basis. During the same period last year, the business posted $1.04 EPS. On average, analysts anticipate 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 was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.40 per share. The ex-dividend date was Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a yield of 0.79%. Universal Display’s dividend payout ratio (DPR) is presently 34.78%.

About Universal Display

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.