9,200 Shares in Universal Display Co. (NASDAQ:OLED) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in shares of Universal Display Co. (NASDAQ:OLED) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,200 shares of the semiconductor company’s stock, valued at approximately $1,345,000.

Several other hedge funds also recently modified their holdings of OLED. Brooklyn Investment Group bought a new position in shares of Universal Display in the third quarter valued at about $30,000. True Wealth Design LLC acquired a new stake in Universal Display in the 3rd quarter valued at about $36,000. Blue Trust Inc. raised its stake in shares of Universal Display by 401.9% in the fourth quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 209 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Universal Display by 761.1% during the fourth quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 274 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Universal Display by 185.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 357 shares of the semiconductor company’s stock valued at $52,000 after purchasing an additional 232 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Trading Down 3.1 %

Universal Display stock opened at $145.17 on Friday. The firm has a market capitalization of $6.89 billion, a P/E ratio of 31.22, a PEG ratio of 1.61 and a beta of 1.40. The business has a 50-day moving average of $149.47 and a 200-day moving average of $168.06. Universal Display Co. has a 1 year low of $140.17 and a 1 year high of $237.00.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.08 by $0.14. The firm had revenue of $162.29 million during the quarter, compared to the consensus estimate of $152.75 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. Research analysts anticipate that Universal Display Co. will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Universal Display’s previous quarterly dividend of $0.40. Universal Display’s dividend payout ratio (DPR) is presently 38.71%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. The Goldman Sachs Group reduced 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. Needham & Company LLC cut their price target on Universal Display from $215.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Oppenheimer lowered their price objective on Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, January 2nd. Citigroup cut their target price on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Finally, StockNews.com upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a research report on Friday, March 21st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Universal Display has a consensus rating of “Moderate Buy” and an average target price of $190.43.

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.