Voloridge Investment Management LLC bought a new position in Universal Display Co. (NASDAQ:OLED - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,163 shares of the semiconductor company's stock, valued at approximately $1,193,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Universal Display by 1.4% in the 4th 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 lifted its holdings in Universal Display by 2.8% in the 4th 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 lifted its holdings in 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 purchasing an additional 101,963 shares during the last quarter. Jennison Associates LLC lifted its holdings in Universal Display by 58.2% in the 4th quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company's stock worth $99,975,000 after purchasing an additional 251,557 shares during the last quarter. Finally, Norges Bank acquired a new stake in Universal Display in the 4th quarter worth approximately $95,924,000. 78.19% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the company. Susquehanna reduced their target price on Universal Display from $165.00 to $160.00 and set a "neutral" rating for the company in a report on Friday, February 21st. The Goldman Sachs Group cut their price target on Universal Display from $234.00 to $203.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Needham & Company LLC restated a "buy" rating and issued a $170.00 target price on shares of Universal Display in a research note on Friday, May 2nd. Roth Mkm upped their target price on Universal Display from $207.00 to $213.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, Citigroup cut their target price on Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a research note on Monday, February 10th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $190.43.
Read Our Latest Analysis on OLED
Universal Display Price Performance
Shares of OLED stock traded down $3.41 during trading hours on Friday, hitting $142.03. 720,554 shares of the company's stock were exchanged, compared to its average volume of 595,611. The stock's 50-day moving average is $133.46 and its 200-day moving average is $146.26. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 30.54, a price-to-earnings-growth ratio of 1.61 and a beta of 1.46. Universal Display Co. has a 52 week low of $103.70 and a 52 week high of $237.00.
Universal Display (NASDAQ:OLED - Get Free Report) last announced its earnings results on Thursday, May 1st. The semiconductor company reported $1.35 EPS for the quarter, topping the consensus estimate 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 business's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 earnings per share. Equities research analysts forecast that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.
Universal Display Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.27%. The ex-dividend date is Monday, June 16th. Universal Display's dividend payout ratio is 37.42%.
Universal Display Company Profile
(
Free Report)
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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