Schonfeld Strategic Advisors LLC bought a new stake in shares of Universal Display Co. (NASDAQ:OLED - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 2,541 shares of the semiconductor company's stock, valued at approximately $371,000.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Universal Display by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 4,784,099 shares of the semiconductor company's stock valued at $699,435,000 after acquiring an additional 67,590 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Universal Display by 2.8% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,536,513 shares of the semiconductor company's stock worth $370,838,000 after buying an additional 69,043 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Universal Display by 12.8% in the fourth quarter. Geode Capital Management LLC now owns 901,315 shares of the semiconductor company's stock valued at $131,806,000 after buying an additional 101,963 shares during the period. Jennison Associates LLC increased its stake in Universal Display by 58.2% in the fourth quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company's stock valued at $99,975,000 after acquiring an additional 251,557 shares during the period. Finally, Norges Bank bought a new position in Universal Display during the 4th quarter valued at about $95,924,000. 78.19% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on OLED. The Goldman Sachs Group dropped their price objective on Universal Display from $234.00 to $203.00 and set a "buy" rating for the company in a report on Thursday, February 6th. 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. Citigroup decreased their price target on shares of Universal Display from $200.00 to $162.00 and set a "neutral" rating on the stock in a research note on Monday, February 10th. StockNews.com raised Universal Display from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Finally, Roth Mkm raised their target price on shares of Universal Display from $207.00 to $213.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $190.43.
Read Our Latest Stock Analysis on OLED
Universal Display Price Performance
Shares of OLED traded down $0.49 during mid-day trading on Wednesday, hitting $154.04. The stock had a trading volume of 452,871 shares, compared to its average volume of 583,220. The firm has a market cap of $7.32 billion, a P/E ratio of 33.13, a PEG ratio of 1.61 and a beta of 1.46. The business has a fifty day moving average price of $134.72 and a 200-day moving average price of $149.47. 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 announced its quarterly earnings data on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.28. The company had revenue of $166.28 million for the quarter, compared to analysts' expectations of $154.76 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. Universal Display's revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm posted $1.19 EPS. As a group, research analysts expect that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.
Universal Display Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.17%. 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.
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