Bank of America Corp DE Buys 25,997 Shares of Universal Display Co. (NASDAQ:OLED)

Bank of America Corp DE raised its position in Universal Display Co. (NASDAQ:OLED - Free Report) by 7.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 363,042 shares of the semiconductor company's stock after purchasing an additional 25,997 shares during the quarter. Bank of America Corp DE owned about 0.76% of Universal Display worth $53,077,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Barclays PLC grew its position in Universal Display by 753.8% during the 3rd quarter. Barclays PLC now owns 212,518 shares of the semiconductor company's stock worth $44,608,000 after purchasing an additional 187,627 shares in the last quarter. Oak Thistle LLC lifted its position in Universal Display by 192.5% during the 4th quarter. Oak Thistle LLC now owns 10,390 shares of the semiconductor company's stock worth $1,519,000 after acquiring an additional 6,838 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its position in Universal Display by 24.3% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 1,674 shares of the semiconductor company's stock worth $245,000 after acquiring an additional 327 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Universal Display by 627.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 78,351 shares of the semiconductor company's stock valued at $11,455,000 after buying an additional 67,583 shares during the last quarter. Finally, Park Avenue Securities LLC raised its position in shares of Universal Display by 20.0% during the fourth quarter. Park Avenue Securities LLC now owns 1,725 shares of the semiconductor company's stock valued at $252,000 after buying an additional 288 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on OLED shares. Roth Mkm upped their target price on shares of Universal Display from $207.00 to $213.00 and gave the company a "buy" rating in a research note on Friday, February 21st. The Goldman Sachs Group decreased their price objective on shares of Universal Display from $234.00 to $203.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Susquehanna decreased their price objective on shares of Universal Display from $165.00 to $160.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. StockNews.com raised shares of Universal Display from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd. Finally, Citigroup decreased their price objective on shares of Universal Display from $200.00 to $162.00 and set a "neutral" rating on the stock in a research note on Monday, February 10th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Universal Display presently has an average rating of "Moderate Buy" and an average target price of $190.43.

Universal Display Stock Up 1.6%

Shares of NASDAQ:OLED traded up $2.40 during midday trading on Friday, reaching $155.51. 574,300 shares of the company were exchanged, compared to its average volume of 587,612. The firm has a market cap of $7.39 billion, a PE ratio of 33.44, a P/E/G ratio of 1.61 and a beta of 1.46. Universal Display Co. has a fifty-two week low of $103.70 and a fifty-two week high of $237.00. The stock has a fifty day simple moving average of $134.67 and a two-hundred day simple moving average of $148.75.

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 for the quarter, beating analysts' consensus estimates of $1.07 by $0.28. The business had revenue of $166.28 million during the quarter, compared to the consensus estimate of $154.76 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.19 earnings per share. As a group, analysts forecast that Universal Display Co. will post 4.71 earnings per share for the current year.

Universal Display Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Monday, June 16th. Universal Display's dividend payout ratio (DPR) is presently 37.42%.

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.