Trexquant Investment LP Raises Stake in Universal Display Co. (NASDAQ:OLED)

Trexquant Investment LP raised its position in shares of Universal Display Co. (NASDAQ:OLED) by 77.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,806 shares of the semiconductor company’s stock after purchasing an additional 7,779 shares during the quarter. Trexquant Investment LP’s holdings in Universal Display were worth $2,346,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Norges Bank purchased a new position in Universal Display during the fourth quarter valued at approximately $118,425,000. Geode Capital Management LLC lifted its holdings in Universal Display by 11.3% during the fourth quarter. Geode Capital Management LLC now owns 523,850 shares of the semiconductor company’s stock valued at $107,949,000 after purchasing an additional 53,126 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Universal Display by 72.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 490,247 shares of the semiconductor company’s stock valued at $101,025,000 after purchasing an additional 205,983 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Universal Display by 122.2% during the fourth quarter. Renaissance Technologies LLC now owns 385,739 shares of the semiconductor company’s stock valued at $79,489,000 after buying an additional 212,138 shares during the last quarter. Finally, FMR LLC raised its position in shares of Universal Display by 123.5% during the fourth quarter. FMR LLC now owns 361,131 shares of the semiconductor company’s stock valued at $74,418,000 after buying an additional 199,573 shares during the last quarter. 63.77% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:OLED opened at $147.85 on Friday. Universal Display Co. has a twelve month low of $105.11 and a twelve month high of $230.32. The company’s 50 day moving average is $140.98 and its 200 day moving average is $173.14. The company has a market cap of $6.97 billion, a PE ratio of 46.51, a price-to-earnings-growth ratio of 1.71 and a beta of 1.61.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.12. Universal Display had a net margin of 33.74% and a return on equity of 18.85%. The company had revenue of $112.30 million for the quarter, compared to the consensus estimate of $93.94 million. During the same quarter in the prior year, the company earned $0.66 EPS. Universal Display’s quarterly revenue was up 27.6% on a year-over-year basis. On average, research analysts anticipate that Universal Display Co. will post 2.88 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.15 dividend. The ex-dividend date is Friday, June 12th. This represents a $0.60 annualized dividend and a yield of 0.41%. Universal Display’s dividend payout ratio is presently 18.18%.

In related news, Director Cynthia Jane Comparin acquired 645 shares of the stock in a transaction on Wednesday, February 26th. The shares were acquired at an average price of $154.25 per share, for a total transaction of $99,491.25. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.70% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Universal Display in a research report on Friday, May 8th. Deutsche Bank reduced their price target on shares of Universal Display from $220.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. ValuEngine upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Roth Capital cut their price objective on shares of Universal Display from $216.00 to $182.00 in a research report on Monday, February 24th. Finally, BidaskClub lowered shares of Universal Display from a “sell” rating to a “strong sell” rating in a research note on Friday, March 20th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $196.06.

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 flat panel displays and solid-state lighting applications. As of February 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.

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Institutional Ownership by Quarter for Universal Display (NASDAQ:OLED)

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