Is Universal Display Corporation (OLED) a Good Investment Bet?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy underperformed the Russell Midcap Growth Index and returned 13.66% (gross) and 13.44% (net) while the index return was -14.55%. In addition, please check the fund’s top five holdings to know its best picks in 2023.

TimesSquare Capital U.S. Mid Cap Growth Strategy featured stocks like Universal Display Corporation (NASDAQ:OLED) in the Q4 2023 investor letter. Headquartered in Ewing, New Jersey, Universal Display Corporation (NASDAQ:OLED) research, develops, and commercializes organic light-emitting diode (OLED) technologies and materials. On March 28, 2024, Universal Display Corporation (NASDAQ:OLED) stock closed at $168.45 per share. One-month return of Universal Display Corporation (NASDAQ:OLED) was -3.42%, and its shares gained 10.32% of their value over the last 52 weeks. Universal Display Corporation (NASDAQ:OLED) has a market capitalization of $7.979 billion.

TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding Universal Display Corporation (NASDAQ:OLED) in its fourth quarter 2023 investor letter:

“New to the portfolio this quarter is Universal Display Corporation (NASDAQ:OLED), a developer of organic light emitting diode technologies for use in display and solid-state lighting applications. The company stands to benefit from a recovery in the end-markets it serves including smartphones, televisions, notebooks, and tablets.”

A technician in a lab coat carefully working with OLED displays and components.

Universal Display Corporation (NASDAQ:OLED) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Universal Display Corporation (NASDAQ:OLED) was held by 28 hedge fund portfolios, compared to 25 in the previous quarter, according to our database.

We discussed Universal Display Corporation (NASDAQ:OLED) in another article and shared the list of best electronic stocks to buy. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.