Dark Forest Capital Management LP Purchases New Position in Universal Display Co. (NASDAQ:OLED)

Dark Forest Capital Management LP acquired a new position in shares of Universal Display Co. (NASDAQ:OLED - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,425 shares of the semiconductor company's stock, valued at approximately $647,000.

Several other large investors also recently bought and sold shares of OLED. Norges Bank purchased a new stake in shares of Universal Display in the fourth quarter valued at $95,924,000. Raymond James Financial Inc. acquired a new position in shares of Universal Display during the fourth quarter worth $41,504,000. Jennison Associates LLC raised its holdings in Universal Display by 58.2% in the fourth quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company's stock valued at $99,975,000 after acquiring an additional 251,557 shares in the last quarter. Barclays PLC raised its holdings in shares of Universal Display by 753.8% during the third 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 during the period. Finally, Hsbc Holdings PLC raised its holdings in shares of Universal Display by 679.9% during the fourth quarter. Hsbc Holdings PLC now owns 157,502 shares of the semiconductor company's stock worth $23,120,000 after purchasing an additional 137,307 shares during the period. Institutional investors and hedge funds own 78.19% of the company's stock.

Universal Display Price Performance

OLED traded up $12.94 on Thursday, hitting $138.57. 764,781 shares of the stock were exchanged, compared to its average volume of 565,393. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 1.61 and a beta of 1.42. Universal Display Co. has a 12 month low of $103.70 and a 12 month high of $237.00. The business has a 50-day moving average of $136.15 and a two-hundred day moving average of $153.45.

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

Universal Display Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from Universal Display's previous quarterly dividend of $0.40. Universal Display's dividend payout ratio is currently 38.71%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Oppenheimer decreased their target price on shares of Universal Display from $220.00 to $200.00 and set an "outperform" rating for the company in a research report on Thursday, January 2nd. Roth Mkm boosted their target price on shares of Universal Display from $207.00 to $213.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Citigroup cut their price objective on shares of Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a research report on Monday, February 10th. StockNews.com lowered shares of Universal Display from a "hold" rating to a "sell" rating in a research report on Friday, April 11th. Finally, The Goldman Sachs Group cut their price target on Universal Display from $234.00 to $203.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $190.43.

Universal Display 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.