Cardinal Capital Management Purchases 1,161 Shares of Universal Display Co. (NASDAQ:OLED)

Cardinal Capital Management increased its position in shares of Universal Display Co. (NASDAQ:OLED) by 16.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,389 shares of the semiconductor company’s stock after purchasing an additional 1,161 shares during the quarter. Cardinal Capital Management’s holdings in Universal Display were worth $1,413,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Red Spruce Capital LLC lifted its holdings in shares of Universal Display by 13.2% in the first quarter. Red Spruce Capital LLC now owns 11,070 shares of the semiconductor company’s stock worth $1,865,000 after acquiring an additional 1,290 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Universal Display by 5.7% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 42,560 shares of the semiconductor company’s stock worth $8,140,000 after acquiring an additional 2,300 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Universal Display by 29.8% in the fourth quarter. Wellington Management Group LLP now owns 330,262 shares of the semiconductor company’s stock valued at $63,166,000 after buying an additional 75,828 shares during the period. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Universal Display in the fourth quarter valued at approximately $35,000. Finally, Chicago Partners Investment Group LLC acquired a new position in shares of Universal Display in the fourth quarter valued at approximately $210,000. Institutional investors own 78.19% of the company’s stock.

Universal Display Price Performance

Shares of Universal Display stock opened at $207.59 on Friday. Universal Display Co. has a 1 year low of $133.67 and a 1 year high of $212.46. The firm has a market cap of $9.85 billion, a PE ratio of 45.13, a P/E/G ratio of 2.25 and a beta of 1.47. The stock has a fifty day moving average price of $179.89 and a 200-day moving average price of $176.40.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.14. Universal Display had a return on equity of 15.57% and a net margin of 36.00%. The company had revenue of $165.26 million during the quarter, compared to analyst estimates of $150.75 million. During the same quarter last year, the firm posted $0.83 EPS. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. As a group, equities analysts anticipate that Universal Display Co. will post 4.75 EPS for the current fiscal year.

Universal Display Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, June 14th. Universal Display’s payout ratio is presently 34.78%.

Insider Activity

In related news, EVP Julia J. Brown sold 10,358 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was 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 filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Mauro Premutico sold 8,202 shares of the business’s 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 transaction, the senior vice president now directly owns 28,743 shares of the company’s stock, valued at $5,082,337.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Julia J. Brown sold 10,358 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 56,624 shares in the company, valued at $9,909,200. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reissued a “buy” rating and set a $198.00 target price on shares of Universal Display in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $199.86.

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 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.