Universal Display Co. (NASDAQ:OLED) Shares Acquired by Cardinal Capital Management

Cardinal Capital Management lifted its position in shares of Universal Display Co. (NASDAQ:OLED) by 16.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,389 shares of the semiconductor company’s stock after buying an additional 1,161 shares during the period. Cardinal Capital Management’s holdings in Universal Display were worth $1,413,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Red Spruce Capital LLC boosted its position in Universal Display by 13.2% during the 1st quarter. Red Spruce Capital LLC now owns 11,070 shares of the semiconductor company’s stock worth $1,865,000 after purchasing an additional 1,290 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Universal Display by 5.7% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 42,560 shares of the semiconductor company’s stock worth $8,140,000 after purchasing an additional 2,300 shares during the period. Wellington Management Group LLP boosted its position in Universal Display by 29.8% during the 4th quarter. Wellington Management Group LLP now owns 330,262 shares of the semiconductor company’s stock worth $63,166,000 after purchasing an additional 75,828 shares during the period. University of Texas Texas AM Investment Managment Co. purchased a new stake in Universal Display during the 4th quarter worth $35,000. Finally, Chicago Partners Investment Group LLC purchased a new stake in Universal Display during the 4th quarter worth $210,000. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Stock Performance

NASDAQ OLED opened at $207.59 on Friday. Universal Display Co. has a twelve month low of $133.67 and a twelve month high of $212.46. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 45.13, a PEG ratio of 2.25 and a beta of 1.47. The firm’s 50 day moving average price is $179.89 and its two-hundred day moving average price is $176.40.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.14. Universal Display had a net margin of 36.00% and a return on equity of 15.57%. The business had revenue of $165.26 million during the quarter, compared to analyst estimates of $150.75 million. During the same quarter in the previous year, the business earned $0.83 EPS. Universal Display’s quarterly revenue was up 26.7% compared to the same quarter last year. On average, research analysts forecast that Universal Display Co. will post 4.75 EPS for the current fiscal year.

Universal Display Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, June 14th. Universal Display’s dividend payout ratio is 34.78%.

Analyst Ratings Changes

Separately, Needham & Company LLC reissued a “buy” rating and issued a $198.00 price objective on shares of Universal Display in a research report on Friday, May 3rd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $199.86.

Insiders Place Their Bets

In other news, SVP Mauro Premutico sold 8,202 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the completion of the transaction, the senior vice president now owns 28,743 shares of the company’s stock, valued at $5,082,337.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Mauro Premutico sold 8,202 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $176.82, for a total value of $1,450,277.64. Following the sale, the senior vice president now owns 28,743 shares of the company’s stock, valued at $5,082,337.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Julia J. Brown sold 10,358 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $175.00, for a total transaction of $1,812,650.00. Following the completion of the sale, the executive vice president now directly owns 56,624 shares in the company, valued at approximately $9,909,200. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Universal Display 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.