TimesSquare Capital Management LLC Buys 152,374 Shares of Universal Display Co. (NASDAQ:OLED)

TimesSquare Capital Management LLC increased its stake in Universal Display Co. (NASDAQ:OLED) by 327.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 198,899 shares of the semiconductor company’s stock after acquiring an additional 152,374 shares during the quarter. TimesSquare Capital Management LLC owned about 0.42% of Universal Display worth $38,041,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Universal Display in the 4th quarter worth approximately $29,797,000. Albar Capital Ltd lifted its holdings in Universal Display by 2,888.4% in the third quarter. Albar Capital Ltd now owns 157,728 shares of the semiconductor company’s stock valued at $24,762,000 after buying an additional 152,450 shares during the period. FMR LLC boosted its position in Universal Display by 10.6% during the third quarter. FMR LLC now owns 1,398,961 shares of the semiconductor company’s stock valued at $219,623,000 after acquiring an additional 134,000 shares during the last quarter. Crestwood Advisors Group LLC acquired a new stake in Universal Display during the 3rd quarter worth about $20,936,000. Finally, Great Lakes Advisors LLC bought a new position in shares of Universal Display in the 3rd quarter worth about $14,016,000. 78.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OLED has been the subject of several recent analyst reports. Citigroup reaffirmed a “neutral” rating and set a $180.00 target price (up previously from $161.00) on shares of Universal Display in a research note on Friday, January 19th. Needham & Company LLC reiterated a “buy” rating and set a $198.00 target price on shares of Universal Display in a research report on Friday, May 3rd. Oppenheimer restated an “outperform” rating and issued a $200.00 price target (down from $210.00) on shares of Universal Display in a report on Friday, February 23rd. Finally, TD Cowen upped their price objective on shares of Universal Display from $165.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. 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 stock has a consensus rating of “Moderate Buy” and an average price target of $199.86.

Insider Activity at Universal Display

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

Universal Display Stock Performance

Shares of Universal Display stock traded down $1.39 during trading hours on Thursday, reaching $173.76. The company’s stock had a trading volume of 256,746 shares, compared to its average volume of 291,378. The stock’s fifty day simple moving average is $163.58 and its two-hundred day simple moving average is $169.40. The company has a market capitalization of $8.24 billion, a P/E ratio of 37.65, a P/E/G ratio of 1.85 and a beta of 1.44. Universal Display Co. has a one year low of $133.67 and a one year high of $194.84.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.14. The firm had revenue of $165.26 million during the quarter, compared to analyst estimates of $150.75 million. Universal Display had a return on equity of 15.57% and a net margin of 36.00%. The company’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 EPS. As a group, research analysts forecast that Universal Display Co. will post 4.74 earnings per share for the current year.

Universal Display Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.92%. Universal Display’s payout ratio is 34.78%.

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.