Point72 Hong Kong Ltd Acquires Shares of 143,312 Universal Display Co. (NASDAQ:OLED)

Point72 Hong Kong Ltd purchased a new position in shares of Universal Display Co. (NASDAQ:OLED - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 143,312 shares of the semiconductor company's stock, valued at approximately $20,952,000. Universal Display comprises about 1.3% of Point72 Hong Kong Ltd's investment portfolio, making the stock its 17th largest position. Point72 Hong Kong Ltd owned 0.30% of Universal Display as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Brown Brothers Harriman & Co. raised its position in shares of Universal Display by 280.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company's stock worth $31,000 after purchasing an additional 154 shares during the last quarter. Blue Trust Inc. raised its holdings in Universal Display by 401.9% in the 4th quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 209 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Universal Display in the 4th quarter valued at about $40,000. Farther Finance Advisors LLC raised its holdings in Universal Display by 761.1% in the 4th quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company's stock valued at $45,000 after acquiring an additional 274 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Universal Display by 185.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 357 shares of the semiconductor company's stock valued at $52,000 after acquiring an additional 232 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company's stock.

Wall Street Analysts Forecast Growth

OLED has been the subject of a number of recent research reports. Citigroup cut their price objective on shares of 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 restated a "buy" rating and set a $170.00 price target on shares of Universal Display in a report on Friday, May 2nd. StockNews.com upgraded shares of Universal Display from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. The Goldman Sachs Group cut their price target on shares of Universal Display from $234.00 to $203.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Finally, Roth Mkm raised their price target on shares of Universal Display from $207.00 to $213.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Three 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 company presently has a consensus rating of "Moderate Buy" and a consensus target price of $190.43.

Universal Display Stock Up 1.6%

OLED stock traded up $2.40 during midday trading on Friday, hitting $155.51. The company's stock had a trading volume of 574,300 shares, compared to its average volume of 589,377. The firm has a market capitalization of $7.39 billion, a P/E ratio of 33.44, a PEG ratio of 1.61 and a beta of 1.46. The firm has a 50-day simple moving average of $134.67 and a 200-day simple moving average of $148.37. 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 released its quarterly earnings data on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.28. The business had revenue of $166.28 million during the quarter, compared to analysts' expectations of $154.76 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The company's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.19 EPS. On average, sell-side analysts expect that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.80 dividend on an annualized basis and a yield of 1.16%. Universal Display's dividend payout ratio (DPR) is presently 37.42%.

Universal Display Company Profile

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.