Mackenzie Financial Corp Takes $3.78 Million Position in Universal Display Co. (NASDAQ:OLED)

Mackenzie Financial Corp bought a new stake in shares of Universal Display Co. (NASDAQ:OLED - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 25,850 shares of the semiconductor company's stock, valued at approximately $3,779,000. Mackenzie Financial Corp owned approximately 0.05% of Universal Display at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in OLED. Vanguard Group Inc. boosted its stake in shares of Universal Display by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 4,784,099 shares of the semiconductor company's stock worth $699,435,000 after buying an additional 67,590 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in Universal Display by 2.8% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,536,513 shares of the semiconductor company's stock worth $370,838,000 after purchasing an additional 69,043 shares in the last quarter. Geode Capital Management LLC boosted its position in Universal Display by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 901,315 shares of the semiconductor company's stock worth $131,806,000 after purchasing an additional 101,963 shares in the last quarter. Jennison Associates LLC lifted its position in shares of 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. Finally, Norges Bank purchased a new position in shares of Universal Display in the fourth quarter valued at approximately $95,924,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Price Performance

Shares of NASDAQ:OLED traded up $3.10 during midday trading on Monday, hitting $146.45. The company had a trading volume of 560,015 shares, compared to its average volume of 596,429. Universal Display Co. has a twelve month low of $103.70 and a twelve month high of $237.00. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 31.49, a price-to-earnings-growth ratio of 1.61 and a beta of 1.46. The business's 50-day simple moving average is $133.35 and its 200-day simple moving average is $145.84.

Universal Display (NASDAQ:OLED - Get Free Report) last posted its earnings results on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.28. The company had revenue of $166.28 million during the quarter, compared to analysts' expectations of $154.76 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The firm's quarterly revenue 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, sell-side analysts forecast that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, June 16th. This represents a $1.80 annualized dividend and a yield of 1.23%. Universal Display's dividend payout ratio (DPR) is 37.42%.

Analysts Set New Price Targets

OLED has been the topic of several research reports. Citigroup decreased their target price on Universal Display from $200.00 to $162.00 and set a "neutral" rating on the stock in a research report on Monday, February 10th. Needham & Company LLC restated a "buy" rating and issued a $170.00 target price on shares of Universal Display in a research report on Friday, May 2nd. Roth Mkm raised their target price on Universal Display from $207.00 to $213.00 and gave the company a "buy" rating in a research report on Friday, February 21st. The Goldman Sachs Group decreased their target price on Universal Display from $234.00 to $203.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Finally, Susquehanna decreased 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. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $190.43.

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.