Invesco Ltd. boosted its stake in Universal Display Co. (NASDAQ:OLED - Free Report) by 33.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 305,514 shares of the semiconductor company's stock after acquiring an additional 76,254 shares during the period. Invesco Ltd. owned 0.64% of Universal Display worth $44,666,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. grew its position in Universal Display by 37.2% during the 4th quarter. Pacer Advisors Inc. now owns 27,246 shares of the semiconductor company's stock valued at $3,983,000 after purchasing an additional 7,390 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Universal Display by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 341,019 shares of the semiconductor company's stock worth $49,857,000 after purchasing an additional 7,147 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Universal Display by 95.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 189,603 shares of the semiconductor company's stock valued at $27,720,000 after purchasing an additional 92,410 shares in the last quarter. Inspire Investing LLC bought a new stake in Universal Display in the 4th quarter worth about $462,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Universal Display during the 3rd quarter valued at about $2,356,000. 78.19% of the stock is currently owned by institutional investors.
Universal Display Price Performance
Shares of OLED traded down $2.91 during midday trading on Monday, reaching $111.07. The stock had a trading volume of 47,079 shares, compared to its average volume of 553,571. The company has a market cap of $5.27 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 1.61 and a beta of 1.42. The company's fifty day simple moving average is $139.96 and its two-hundred day simple moving average is $157.52. Universal Display Co. has a 1-year low of $103.70 and a 1-year high of $237.00.
Universal Display (NASDAQ:OLED - Get Free Report) last issued its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.14. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The business had revenue of $162.29 million for the quarter, compared to analyst estimates of $152.75 million. On average, sell-side analysts forecast that Universal Display Co. will post 4.71 earnings per share for the current year.
Universal Display Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.45 per share. The ex-dividend date was Monday, March 17th. This is a positive change from Universal Display's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.62%. Universal Display's dividend payout ratio (DPR) is 38.71%.
Wall Street Analyst Weigh In
Several brokerages have weighed in on OLED. Citigroup lowered their price target on Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a report on Monday, February 10th. StockNews.com cut shares of Universal Display from a "hold" rating to a "sell" rating in a report on Friday, April 11th. Oppenheimer cut their target price on Universal Display from $220.00 to $200.00 and set an "outperform" rating on the stock in a research report on Thursday, January 2nd. Needham & Company LLC cut their price objective on Universal Display from $215.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, February 21st. Finally, Susquehanna reduced their price target on Universal Display from $165.00 to $160.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $190.43.
View Our Latest Research Report on OLED
About Universal Display
(
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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