AGF Management Ltd. Takes Position in Universal Display Corporation $OLED

AGF Management Ltd. acquired a new stake in shares of Universal Display Corporation (NASDAQ:OLED) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 9,100 shares of the semiconductor company’s stock, valued at approximately $1,307,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Universal Display during the 2nd quarter worth approximately $124,480,000. Primecap Management Co. CA grew its position in shares of Universal Display by 20.7% in the 2nd quarter. Primecap Management Co. CA now owns 2,215,308 shares of the semiconductor company’s stock valued at $342,176,000 after buying an additional 379,586 shares during the last quarter. Deprince Race & Zollo Inc. acquired a new stake in shares of Universal Display in the third quarter valued at about $32,962,000. Rafferty Asset Management LLC raised its position in shares of Universal Display by 63.2% during the second quarter. Rafferty Asset Management LLC now owns 574,161 shares of the semiconductor company’s stock worth $88,685,000 after acquiring an additional 222,327 shares during the last quarter. Finally, Tredje AP fonden acquired a new position in shares of Universal Display in the second quarter worth approximately $30,519,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on OLED shares. Needham & Company LLC restated a “buy” rating and set a $150.00 price target on shares of Universal Display in a report on Monday, December 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Universal Display in a research note on Wednesday, December 24th. Wall Street Zen raised shares of Universal Display from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Citigroup decreased their price target on Universal Display from $150.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, January 27th. Finally, Zacks Research downgraded Universal Display from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Universal Display currently has a consensus rating of “Hold” and a consensus target price of $163.25.

Universal Display Trading Down 4.6%

OLED opened at $113.05 on Friday. The company has a fifty day moving average price of $119.44 and a two-hundred day moving average price of $132.42. Universal Display Corporation has a 1-year low of $103.70 and a 1-year high of $164.29. The company has a market cap of $5.37 billion, a P/E ratio of 24.36, a price-to-earnings-growth ratio of 3.33 and a beta of 1.63.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, November 6th. The semiconductor company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.27). Universal Display had a net margin of 34.65% and a return on equity of 14.10%. The firm had revenue of $139.61 million during the quarter, compared to analyst estimates of $165.56 million. During the same quarter in the prior year, the business earned $1.40 earnings per share. The business’s quarterly revenue was down 13.6% on a year-over-year basis. On average, research analysts forecast that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Profile

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.