Bank of New York Mellon Corp Purchases 2,282 Shares of Universal Display Corporation (NASDAQ:OLED)

Bank of New York Mellon Corp grew its holdings in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 0.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 439,874 shares of the semiconductor company's stock after purchasing an additional 2,282 shares during the period. Bank of New York Mellon Corp owned approximately 0.93% of Universal Display worth $61,354,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. CIBC Private Wealth Group LLC raised its stake 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 purchasing an additional 85 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Universal Display by 0.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,091 shares of the semiconductor company's stock valued at $1,475,000 after acquiring an additional 90 shares in the last quarter. Bessemer Group Inc. boosted its position in Universal Display by 3.8% in the first quarter. Bessemer Group Inc. now owns 2,603 shares of the semiconductor company's stock worth $363,000 after purchasing an additional 95 shares during the last quarter. Utah Retirement Systems lifted its position in shares of Universal Display by 1.3% during the 4th quarter. Utah Retirement Systems now owns 7,820 shares of the semiconductor company's stock valued at $1,143,000 after buying an additional 100 shares during the last quarter. Finally, Perigon Wealth Management LLC increased its stake in Universal Display by 4.9% in the 1st quarter. Perigon Wealth Management LLC now owns 2,709 shares of the semiconductor company's stock worth $378,000 after acquiring an additional 127 shares during the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on OLED. Wall Street Zen raised shares of Universal Display from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $170.00 target price on shares of Universal Display in a report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $190.43.

Universal Display Price Performance

Shares of OLED stock traded down $1.29 during mid-day trading on Tuesday, hitting $151.76. 197,504 shares of the stock traded hands, compared to its average volume of 613,130. The stock has a market cap of $7.21 billion, a P/E ratio of 31.55, a P/E/G ratio of 1.68 and a beta of 1.51. The stock's fifty day moving average is $152.01 and its two-hundred day moving average is $145.04. Universal Display Corporation has a 52-week low of $103.70 and a 52-week high of $237.00.

Universal Display (NASDAQ:OLED - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.07 by $0.28. Universal Display had a return on equity of 15.35% and a net margin of 35.40%. The business had revenue of $166.28 million for the quarter, compared to analyst estimates of $154.76 million. During the same quarter in the previous year, the firm earned $1.19 EPS. The company's quarterly revenue was up .6% compared to the same quarter last year. As a group, equities analysts forecast that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Monday, June 16th. Universal Display's dividend payout ratio is currently 37.42%.

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.