Point72 Asset Management L.P. purchased a new position in Universal Display Co. (NASDAQ:OLED - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 266,631 shares of the semiconductor company's stock, valued at approximately $38,981,000. Point72 Asset Management L.P. owned about 0.56% of Universal Display at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Brown Brothers Harriman & Co. boosted its stake in shares of Universal Display by 280.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company's stock worth $31,000 after buying an additional 154 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Universal Display by 401.9% in the 4th quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company's stock worth $38,000 after buying an additional 209 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Universal Display in the 4th quarter worth $40,000. Farther Finance Advisors LLC boosted its stake in shares of Universal Display by 761.1% in the 4th quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company's stock worth $45,000 after buying an additional 274 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Universal Display by 185.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 357 shares of the semiconductor company's stock worth $52,000 after buying an additional 232 shares during the last quarter. 78.19% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on OLED. Susquehanna dropped their price target on Universal Display from $165.00 to $160.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Roth Mkm boosted their price target on Universal Display from $207.00 to $213.00 and gave the company a "buy" rating in a report on Friday, February 21st. Citigroup cut 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. Needham & Company LLC reissued a "buy" rating and set a $170.00 price target on shares of Universal Display in a report on Friday, May 2nd. Finally, 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. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $190.43.
Check Out Our Latest Analysis on OLED
Universal Display Stock Performance
Shares of Universal Display stock traded up $0.74 during trading hours on Thursday, hitting $146.70. The company's stock had a trading volume of 76,468 shares, compared to its average volume of 589,441. The business has a 50 day moving average price of $134.71 and a two-hundred day moving average price of $147.96. Universal Display Co. has a 12-month low of $103.70 and a 12-month high of $237.00. The company has a market cap of $6.97 billion, a PE ratio of 31.59, a PEG ratio of 1.61 and a beta of 1.46.
Universal Display (NASDAQ:OLED - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The semiconductor company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.07 by $0.28. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The business had revenue of $166.28 million for the quarter, compared to the consensus estimate of $154.76 million. During the same period in the previous year, the business earned $1.19 earnings per share. The business's revenue was up .6% on a year-over-year basis. As a group, research analysts anticipate that Universal Display Co. will post 4.71 earnings per share for the current year.
Universal Display Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.45 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.23%. Universal Display's 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.
Further Reading
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