49,195 Shares in Universal Display Co. (NASDAQ:OLED) Bought by Pinnbrook Capital Management LP

Pinnbrook Capital Management LP purchased a new position in Universal Display Co. (NASDAQ:OLED - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 49,195 shares of the semiconductor company's stock, valued at approximately $9,409,000. Universal Display accounts for about 1.1% of Pinnbrook Capital Management LP's investment portfolio, making the stock its 22nd largest position. Pinnbrook Capital Management LP owned 0.10% of Universal Display at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its holdings in Universal Display by 5.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 76,242 shares of the semiconductor company's stock worth $14,582,000 after acquiring an additional 3,819 shares in the last quarter. Eisler Capital US LLC bought a new stake in Universal Display in the fourth quarter worth $2,222,000. First Trust Advisors LP boosted its holdings in Universal Display by 20.7% in the fourth quarter. First Trust Advisors LP now owns 449,628 shares of the semiconductor company's stock worth $85,996,000 after acquiring an additional 76,967 shares in the last quarter. Peapack Gladstone Financial Corp boosted its holdings in Universal Display by 1.8% in the fourth quarter. Peapack Gladstone Financial Corp now owns 3,367 shares of the semiconductor company's stock worth $643,000 after acquiring an additional 60 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new stake in Universal Display in the fourth quarter worth $240,000. 78.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Universal Display Price Performance

Shares of OLED stock traded up $1.34 during mid-day trading on Monday, hitting $164.26. The stock had a trading volume of 125,057 shares, compared to its average volume of 286,719. Universal Display Co. has a 12-month low of $125.98 and a 12-month high of $194.84. The firm has a market capitalization of $7.78 billion, a P/E ratio of 38.74, a price-to-earnings-growth ratio of 1.77 and a beta of 1.45. The firm's 50-day moving average is $171.10 and its two-hundred day moving average is $169.18.

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

Universal Display Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.97%. This is a positive change from Universal Display's previous quarterly dividend of $0.35. The ex-dividend date was Thursday, March 14th. Universal Display's payout ratio is presently 37.74%.

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.

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