Pinebridge Investments L.P. Grows Stock Holdings in Universal Display Co. (NASDAQ:OLED)

Pinebridge Investments L.P. boosted its position in Universal Display Co. (NASDAQ:OLED - Free Report) by 42.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,835 shares of the semiconductor company's stock after buying an additional 3,542 shares during the quarter. Pinebridge Investments L.P.'s holdings in Universal Display were worth $1,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. CIBC Asset Management Inc raised its holdings in Universal Display by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,473 shares of the semiconductor company's stock valued at $215,000 after acquiring an additional 73 shares during the period. CIBC Private Wealth Group LLC raised its stake in shares of Universal Display by 5.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,615 shares of the semiconductor company's stock valued at $245,000 after purchasing an additional 85 shares during the period. Arizona State Retirement System lifted its holdings in Universal Display by 0.7% during the 4th quarter. Arizona State Retirement System now owns 13,065 shares of the semiconductor company's stock worth $1,910,000 after purchasing an additional 88 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Universal Display by 0.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,091 shares of the semiconductor company's stock valued at $1,475,000 after acquiring an additional 90 shares during the period. Finally, Louisiana State Employees Retirement System grew its stake in Universal Display by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the semiconductor company's stock valued at $1,798,000 after acquiring an additional 100 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

Universal Display Stock Up 2.0 %

NASDAQ:OLED traded up $2.83 during trading hours on Friday, hitting $144.03. 954,896 shares of the stock traded hands, compared to its average volume of 576,591. The company has a market cap of $6.85 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 1.61 and a beta of 1.46. Universal Display Co. has a 1 year low of $103.70 and a 1 year high of $237.00. The stock has a 50 day moving average price of $135.81 and a 200 day moving average price of $153.00.

Universal Display (NASDAQ:OLED - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $1.35 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.28. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The company had revenue of $166.28 million for the quarter, compared to analysts' expectations of $154.76 million. During the same period in the previous year, the firm earned $1.19 EPS. The firm's revenue was up .6% compared to the same quarter last year. Equities analysts forecast that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.45 per share. The ex-dividend date was Monday, March 17th. This represents a $1.80 annualized dividend and a yield of 1.25%. This is a positive change from Universal Display's previous quarterly dividend of $0.40. Universal Display's dividend payout ratio (DPR) is 37.42%.

Analysts Set New Price Targets

A number of equities analysts have commented on OLED shares. Susquehanna cut their price target on shares of Universal Display from $165.00 to $160.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. StockNews.com lowered Universal Display from a "hold" rating to a "sell" rating in a research note on Friday, April 11th. The Goldman Sachs Group decreased their price objective on Universal Display from $234.00 to $203.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Oppenheimer decreased their price target on shares of Universal Display from $220.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday, January 2nd. Finally, Citigroup lowered their price target on shares of Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $190.43.

Universal Display 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.