Short Interest in Universal Display Co. (NASDAQ:OLED) Drops By 22.4%

Universal Display Co. (NASDAQ:OLED - Get Free Report) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 908,500 shares, a drop of 22.4% from the March 15th total of 1,170,000 shares. Currently, 2.1% of the company's shares are sold short. Based on an average daily volume of 283,500 shares, the short-interest ratio is currently 3.2 days.

Universal Display Trading Down 2.9 %

Shares of Universal Display stock traded down $4.70 during trading on Friday, reaching $159.59. The stock had a trading volume of 202,493 shares, compared to its average volume of 241,914. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 37.64, a P/E/G ratio of 1.79 and a beta of 1.45. The stock has a fifty day moving average price of $170.46 and a two-hundred day moving average price of $169.30. Universal Display has a 52 week low of $125.98 and a 52 week high of $194.84.

Universal Display (NASDAQ:OLED - Get Free Report) last released its earnings results on Thursday, February 22nd. The semiconductor company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.18 by $0.11. The firm had revenue of $158.32 million for the quarter, compared to analysts' expectations of $161.08 million. Universal Display had a return on equity of 14.85% and a net margin of 35.22%. The business's quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.36 EPS. On average, equities analysts forecast that Universal Display will post 4.72 EPS for the current fiscal year.

Universal Display Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.40 dividend. This is a positive change from Universal Display's previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, March 14th. Universal Display's payout ratio is presently 37.74%.

Institutional Investors Weigh In On Universal Display

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Universal Display in the 4th quarter valued at approximately $25,000. Orion Capital Management LLC acquired a new stake in Universal Display in the third quarter valued at $31,000. Principal Securities Inc. bought a new position in shares of Universal Display in the 4th quarter valued at about $34,000. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Universal Display during the 4th quarter worth about $35,000. Finally, Cape Investment Advisory Inc. raised its holdings in shares of Universal Display by 1,977.8% in the 4th quarter. Cape Investment Advisory Inc. now owns 187 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 178 shares during the period. 78.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on OLED shares. Citigroup reaffirmed a "neutral" rating and issued a $180.00 price target (up from $161.00) on shares of Universal Display in a research note on Friday, January 19th. TD Cowen lifted their price target on shares of Universal Display from $165.00 to $210.00 and gave the stock an "outperform" rating in a research report on Friday, February 23rd. Oppenheimer restated an "outperform" rating and issued a $200.00 price objective (down previously from $210.00) on shares of Universal Display in a research report on Friday, February 23rd. Needham & Company LLC reiterated a "buy" rating and set a $198.00 target price on shares of Universal Display in a report on Tuesday, March 26th. Finally, Bank of America raised Universal Display from a "neutral" rating to a "buy" rating and boosted their target price for the company from $160.00 to $250.00 in a research note on Monday, December 18th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $199.86.

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.