Canada Pension Plan Investment Board Makes New $5.32 Million Investment in Universal Display Co. (NASDAQ:OLED)

Canada Pension Plan Investment Board bought a new stake in Universal Display Co. (NASDAQ:OLED - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 36,400 shares of the semiconductor company's stock, valued at approximately $5,322,000. Canada Pension Plan Investment Board owned about 0.08% of Universal Display at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CIBC Asset Management Inc raised its position in shares of Universal Display by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,473 shares of the semiconductor company's stock worth $215,000 after acquiring an additional 73 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Universal Display by 5.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,615 shares of the semiconductor company's stock worth $245,000 after buying an additional 85 shares during the last quarter. Arizona State Retirement System grew its position in shares of Universal Display by 0.7% in the 4th quarter. Arizona State Retirement System now owns 13,065 shares of the semiconductor company's stock valued at $1,910,000 after buying an additional 88 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in Universal Display by 0.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 10,091 shares of the semiconductor company's stock worth $1,475,000 after acquiring an additional 90 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in Universal Display by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the semiconductor company's stock valued at $1,798,000 after acquiring an additional 100 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Susquehanna cut their target price on Universal Display from $165.00 to $160.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Needham & Company LLC reduced their price objective on Universal Display from $215.00 to $170.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Citigroup lowered their target price on shares of Universal Display from $200.00 to $162.00 and set a "neutral" rating on the stock in a research report on Monday, February 10th. Oppenheimer cut their target price on shares of Universal Display from $220.00 to $200.00 and set an "outperform" rating on the stock in a report on Thursday, January 2nd. Finally, The Goldman Sachs Group decreased their price target on shares of Universal Display from $234.00 to $203.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $190.43.

Universal Display Stock Up 0.8 %

Shares of NASDAQ OLED traded up $0.96 during mid-day trading on Friday, hitting $126.41. 440,763 shares of the company were exchanged, compared to its average volume of 561,990. The stock has a 50 day simple moving average of $137.64 and a 200-day simple moving average of $154.41. Universal Display Co. has a 1-year low of $103.70 and a 1-year high of $237.00. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

Universal Display (NASDAQ:OLED - Get Free Report) last released its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.08 by $0.14. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The company had revenue of $162.29 million during the quarter, compared to analysts' expectations of $152.75 million. Analysts anticipate that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.45 dividend. This is a boost from Universal Display's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Monday, March 17th. Universal Display's dividend payout ratio (DPR) is currently 38.71%.

Universal Display Company 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.