Kornitzer Capital Management Inc. KS Has $14.71 Million Stock Position in Universal Display Corporation (NASDAQ:OLED)

Kornitzer Capital Management Inc. KS boosted its holdings in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 23.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 105,487 shares of the semiconductor company's stock after buying an additional 19,955 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.22% of Universal Display worth $14,713,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Universal Display by 5.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 139,646 shares of the semiconductor company's stock valued at $19,478,000 after buying an additional 6,604 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Universal Display by 44.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 286,320 shares of the semiconductor company's stock worth $39,936,000 after acquiring an additional 87,801 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Universal Display during the 1st quarter worth about $242,000. GAMMA Investing LLC grew its stake in Universal Display by 134.1% during the 1st quarter. GAMMA Investing LLC now owns 962 shares of the semiconductor company's stock worth $134,000 after buying an additional 551 shares during the last quarter. Finally, DAVENPORT & Co LLC purchased a new position in Universal Display during the 1st quarter worth approximately $377,000. Hedge funds and other institutional investors own 78.19% of the company's stock.

Universal Display Stock Down 0.1%

Shares of OLED traded down $0.18 during midday trading on Friday, hitting $151.22. The company had a trading volume of 269,407 shares, compared to its average volume of 612,060. The company's 50 day moving average price is $152.78 and its 200 day moving average price is $145.18. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 1.64 and a beta of 1.51. Universal Display Corporation has a 52 week low of $103.70 and a 52 week high of $234.16.

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

Universal Display Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OLED. Needham & Company LLC restated a "buy" rating and set a $170.00 price target on shares of Universal Display in a research note on Friday, May 2nd. Wall Street Zen raised Universal Display from a "sell" rating to a "hold" rating in a research note 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $190.43.

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.