Portside Wealth Group LLC Buys Shares of 1,718 Universal Display Co. (NASDAQ:OLED)

Portside Wealth Group LLC bought a new stake in shares of Universal Display Co. (NASDAQ:OLED - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,718 shares of the semiconductor company's stock, valued at approximately $240,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of OLED. Vanguard Group Inc. raised its position in shares of Universal Display by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 4,784,099 shares of the semiconductor company's stock valued at $699,435,000 after buying an additional 67,590 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted 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 valued at $370,838,000 after purchasing an additional 69,043 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Universal Display by 12.8% in the 4th quarter. Geode Capital Management LLC now owns 901,315 shares of the semiconductor company's stock worth $131,806,000 after buying an additional 101,963 shares in the last quarter. Norges Bank purchased a new stake in shares of Universal Display during the 4th quarter valued at about $95,924,000. Finally, Greenhouse Funds LLLP lifted its holdings in shares of Universal Display by 11.2% in the 4th quarter. Greenhouse Funds LLLP now owns 583,603 shares of the semiconductor company's stock valued at $85,323,000 after acquiring an additional 58,775 shares during the last quarter. 78.19% of the stock is owned by institutional investors.

Universal Display Price Performance

OLED traded down $1.65 on Thursday, reaching $159.13. 303,152 shares of the company's stock were exchanged, compared to its average volume of 600,649. The stock's fifty day moving average price is $136.06 and its 200-day moving average price is $145.55. The stock has a market cap of $7.56 billion, a PE ratio of 34.22, a P/E/G ratio of 1.61 and a beta of 1.50. Universal Display Co. has a twelve month low of $103.70 and a twelve month high of $237.00.

Universal Display (NASDAQ:OLED - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $1.35 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.28. The company had revenue of $166.28 million for 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 revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.19 earnings per share. As a group, research analysts predict that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $0.45 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.80 dividend on an annualized basis and a yield of 1.13%. Universal Display's dividend payout ratio is presently 37.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Universal Display from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Susquehanna cut their target price on Universal Display from $165.00 to $160.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Roth Mkm raised their price target on Universal Display from $207.00 to $213.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $170.00 target price on shares of Universal Display in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.