Thrive Wealth Management LLC Buys New Shares in Universal Display Co. (NASDAQ:OLED)

Thrive Wealth Management LLC bought a new position in shares of Universal Display Co. (NASDAQ:OLED - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,810 shares of the semiconductor company's stock, valued at approximately $392,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OLED. Orion Capital Management LLC acquired a new stake in shares of Universal Display in the fourth quarter valued at approximately $29,000. Brown Brothers Harriman & Co. raised its stake in Universal Display by 280.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company's stock valued at $31,000 after acquiring an additional 154 shares during the period. Blue Trust Inc. raised its stake in Universal Display by 401.9% in the 4th quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 209 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Universal Display during the 4th quarter valued at $40,000. Finally, Farther Finance Advisors LLC lifted its holdings in Universal Display by 761.1% during the 4th quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company's stock valued at $45,000 after purchasing an additional 274 shares during the last quarter. 78.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on OLED. Roth Mkm increased their price objective on shares of 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 price target on shares of Universal Display from $234.00 to $203.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Susquehanna cut their price objective on shares of Universal Display from $165.00 to $160.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. Wall Street Zen upgraded Universal Display from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Finally, Needham & Company LLC reiterated a "buy" rating and set 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $190.43.

Universal Display Stock Down 0.5%

NASDAQ OLED opened at $149.46 on Friday. The firm has a 50-day moving average price of $133.66 and a two-hundred day moving average price of $145.80. Universal Display Co. has a 12-month low of $103.70 and a 12-month high of $237.00. The company has a market capitalization of $7.10 billion, a P/E ratio of 32.14, a P/E/G ratio of 1.61 and a beta of 1.46.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.28. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The business had revenue of $166.28 million during the quarter, compared to analysts' expectations of $154.76 million. During the same period in the previous year, the company posted $1.19 earnings per share. The firm's revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts expect that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Monday, June 16th. Universal Display's dividend payout ratio (DPR) is presently 37.42%.

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.

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