Healthcare of Ontario Pension Plan Trust Fund Has $10.55 Million Stock Holdings in Universal Display Co. (NASDAQ:OLED)

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Universal Display Co. (NASDAQ:OLED) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,199 shares of the semiconductor company’s stock after purchasing an additional 1,073 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Universal Display were worth $10,554,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in OLED. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Universal Display in the second quarter valued at approximately $127,668,000. Janus Henderson Group PLC lifted its position in shares of Universal Display by 66.6% in the first quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock valued at $73,099,000 after buying an additional 173,496 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Universal Display in the second quarter valued at approximately $34,558,000. Strategic Financial Concepts LLC bought a new position in shares of Universal Display during the second quarter worth approximately $23,500,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Universal Display by 27.3% during the second quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company’s stock worth $98,725,000 after purchasing an additional 100,809 shares during the period. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Price Performance

Universal Display stock opened at $211.71 on Friday. The stock’s fifty day moving average price is $195.45 and its two-hundred day moving average price is $188.23. Universal Display Co. has a one year low of $133.67 and a one year high of $237.00. The firm has a market cap of $10.04 billion, a PE ratio of 46.02, a price-to-earnings-growth ratio of 2.22 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last posted 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). Universal Display had a return on equity of 15.25% and a net margin of 35.74%. The company had revenue of $158.50 million for the quarter, compared to the consensus estimate of $159.46 million. During the same quarter last year, the business earned $1.04 EPS. Universal Display’s revenue was up 8.1% on a year-over-year basis. Sell-side analysts expect 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. Stockholders of record on Monday, September 16th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 0.76%. Universal Display’s payout ratio is 34.78%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on OLED shares. Oppenheimer increased their target price on Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 3rd. Roth Mkm increased their target price on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. The Goldman Sachs Group increased their target price on Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Susquehanna increased their target price on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC increased their target price on Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $225.88.

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.