Ameriprise Financial Inc. lessened its holdings in Universal Display Co. (NASDAQ:OLED - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 454,070 shares of the semiconductor company's stock after selling 14,016 shares during the quarter. Ameriprise Financial Inc. owned 0.96% of Universal Display worth $66,388,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Universal Display in the 4th quarter valued at approximately $95,924,000. Raymond James Financial Inc. purchased a new position in Universal Display during the 4th quarter valued at about $41,504,000. Jennison Associates LLC grew its holdings in shares of Universal Display by 58.2% during the fourth quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company's stock worth $99,975,000 after purchasing an additional 251,557 shares in the last quarter. Barclays PLC boosted its stake in Universal Display by 753.8% in the third quarter. Barclays PLC now owns 212,518 shares of the semiconductor company's stock worth $44,608,000 after buying an additional 187,627 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in Universal Display by 679.9% in the fourth quarter. Hsbc Holdings PLC now owns 157,502 shares of the semiconductor company's stock valued at $23,120,000 after purchasing an additional 137,307 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have recently commented on OLED. Needham & Company LLC reissued a "buy" rating and issued a $170.00 target price on shares of Universal Display in a research note on Friday, May 2nd. Citigroup dropped their target price on Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a report on Monday, February 10th. Roth Mkm lifted their target price on Universal Display from $207.00 to $213.00 and gave the company a "buy" rating in a research report on Friday, February 21st. The Goldman Sachs Group reduced their price target on Universal Display from $234.00 to $203.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Finally, Susquehanna dropped their price target on Universal Display from $165.00 to $160.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $190.43.
View Our Latest Research Report on OLED
Universal Display Price Performance
Shares of NASDAQ:OLED traded up $11.04 during midday trading on Monday, hitting $154.95. The company had a trading volume of 976,909 shares, compared to its average volume of 581,948. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 33.32, a price-to-earnings-growth ratio of 1.61 and a beta of 1.46. Universal Display Co. has a twelve month low of $103.70 and a twelve month high of $237.00. The business's 50-day simple moving average is $134.63 and its 200-day simple moving average is $149.44.
Universal Display (NASDAQ:OLED - Get Free Report) last released its earnings results on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.28. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The firm had revenue of $166.28 million during the quarter, compared to analyst estimates of $154.76 million. During the same period last year, the business posted $1.19 earnings per share. Universal Display's revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts forecast that Universal Display Co. will post 4.71 EPS for the current year.
Universal Display Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Monday, June 16th. Universal Display's dividend payout ratio is presently 37.42%.
About Universal Display
(
Free Report)
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.
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