Peregrine Investment Management Inc. Boosts Holdings in Universal Display Corporation (NASDAQ:OLED)

Peregrine Investment Management Inc. grew its holdings in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 3.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,240 shares of the semiconductor company's stock after purchasing an additional 1,841 shares during the quarter. Universal Display comprises about 5.6% of Peregrine Investment Management Inc.'s investment portfolio, making the stock its 8th biggest position. Peregrine Investment Management Inc. owned approximately 0.11% of Universal Display worth $7,565,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Louisiana State Employees Retirement System raised its holdings in Universal Display by 0.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 12,400 shares of the semiconductor company's stock worth $1,730,000 after acquiring an additional 100 shares during the period. Stephens Inc. AR bought a new position in Universal Display in the 1st quarter worth $270,000. Schechter Investment Advisors LLC raised its holdings in Universal Display by 7.7% in the 1st quarter. Schechter Investment Advisors LLC now owns 2,267 shares of the semiconductor company's stock worth $316,000 after acquiring an additional 163 shares during the period. Robeco Schweiz AG bought a new position in Universal Display in the 1st quarter worth $4,603,000. Finally, State of Michigan Retirement System grew its position in Universal Display by 1.9% in the 1st quarter. State of Michigan Retirement System now owns 10,605 shares of the semiconductor company's stock worth $1,479,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 78.19% of the company's stock.

Wall Street Analysts Forecast Growth

OLED has been the topic of several recent research reports. Needham & Company LLC reiterated a "buy" rating and set a $170.00 target price on shares of Universal Display in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Universal Display from a "sell" rating to a "hold" rating in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $190.43.

Universal Display Stock Performance

NASDAQ:OLED traded down $2.07 during trading hours on Monday, hitting $153.42. The stock had a trading volume of 104,674 shares, compared to its average volume of 612,629. The company has a market cap of $7.29 billion, a price-to-earnings ratio of 31.88, a P/E/G ratio of 1.68 and a beta of 1.51. Universal Display Corporation has a one year low of $103.70 and a one year high of $237.00. The business's 50 day moving average is $152.01 and its 200-day moving average is $145.04.

Universal Display (NASDAQ:OLED - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share for the quarter, beating 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 net margin of 35.40% and a return on equity of 15.35%. The business's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.19 earnings per share. On average, sell-side analysts anticipate that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Monday, June 16th. Universal Display's payout ratio is 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.