Vest Financial LLC Makes New $2.78 Million Investment in Universal Display Co. (NASDAQ:OLED)

Vest Financial LLC purchased a new position in shares of Universal Display Co. (NASDAQ:OLED - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,959 shares of the semiconductor company's stock, valued at approximately $2,784,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Universal Display by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 4,784,099 shares of the semiconductor company's stock worth $699,435,000 after purchasing an additional 67,590 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings 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 during the last quarter. Geode Capital Management LLC boosted its holdings 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 during the last quarter. Norges Bank bought a new stake in Universal Display in the fourth quarter worth about $95,924,000. Finally, Greenhouse Funds LLLP raised its position in Universal Display by 11.2% in the fourth quarter. Greenhouse Funds LLLP now owns 583,603 shares of the semiconductor company's stock worth $85,323,000 after acquiring an additional 58,775 shares during the period. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Universal Display Trading Up 1.2%

Shares of NASDAQ OLED traded up $1.85 during midday trading on Friday, hitting $151.31. The company's stock had a trading volume of 328,675 shares, compared to its average volume of 600,954. The stock has a fifty day moving average price of $133.91 and a 200 day moving average price of $145.42. Universal Display Co. has a one year low of $103.70 and a one year high of $237.00. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 32.54, a P/E/G ratio of 1.61 and a beta of 1.50.

Universal Display (NASDAQ:OLED - Get Free Report) last posted 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 net margin of 34.29% and a return on equity of 15.51%. The company had revenue of $166.28 million for the quarter, compared to analyst estimates of $154.76 million. During the same quarter in the previous year, the firm posted $1.19 earnings per share. The company's quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts predict that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Monday, June 16th. Universal Display's dividend payout ratio (DPR) is presently 37.42%.

Analysts Set New Price Targets

Several analysts have commented on OLED shares. Susquehanna lowered their price objective on shares of Universal Display from $165.00 to $160.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Wall Street Zen raised shares of Universal Display from a "sell" rating to a "hold" rating in a research report on Friday, May 2nd. Roth Mkm lifted their price objective on shares of Universal Display from $207.00 to $213.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Citigroup lowered their price objective on shares of Universal Display from $200.00 to $162.00 and set a "neutral" rating on the stock in a research report on Monday, February 10th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $170.00 price objective on shares of Universal Display in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average 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.