AI Squared Management Ltd Invests $5.52 Million in Universal Display Corporation $OLED

AI Squared Management Ltd acquired a new stake in shares of Universal Display Corporation (NASDAQ:OLED) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 38,400 shares of the semiconductor company’s stock, valued at approximately $5,515,000. Universal Display accounts for about 5.7% of AI Squared Management Ltd’s investment portfolio, making the stock its 6th largest position. AI Squared Management Ltd owned 0.08% of Universal Display at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its position in shares of Universal Display by 309.8% in the third quarter. Smartleaf Asset Management LLC now owns 209 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 158 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of Universal Display by 236.7% during the second quarter. Parkside Financial Bank & Trust now owns 202 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 142 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Universal Display during the third quarter worth about $37,000. Atlantic Union Bankshares Corp bought a new stake in Universal Display during the 2nd quarter valued at approximately $39,000. Finally, Rise Advisors LLC lifted its holdings in Universal Display by 53.3% in the 3rd quarter. Rise Advisors LLC now owns 299 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 104 shares in the last quarter. Institutional investors own 78.19% of the company’s stock.

Universal Display Price Performance

NASDAQ OLED opened at $97.03 on Friday. Universal Display Corporation has a 1-year low of $96.50 and a 1-year high of $163.21. The business has a 50 day simple moving average of $116.96 and a two-hundred day simple moving average of $127.81. The stock has a market capitalization of $4.57 billion, a PE ratio of 19.14, a P/E/G ratio of 7.46 and a beta of 1.65.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, February 19th. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.11. The business had revenue of $172.93 million for the quarter, compared to analysts’ expectations of $173.35 million. Universal Display had a return on equity of 14.07% and a net margin of 37.21%.The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 EPS. On average, analysts anticipate that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.1%. This is an increase from Universal Display’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, March 17th. Universal Display’s dividend payout ratio (DPR) is 35.50%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wall Street Zen upgraded Universal Display from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Roth Mkm reissued a “buy” rating and issued a $180.00 target price on shares of Universal Display in a report on Friday, February 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Universal Display in a research report on Wednesday, December 24th. Needham & Company LLC cut their target price on shares of Universal Display from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Finally, Citigroup reduced their price target on shares of Universal Display from $150.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, January 27th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $151.67.

About Universal Display

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.