Norges Bank acquired a new stake in shares of Universal Display Co. (NASDAQ:OLED) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 827,735 shares of the semiconductor company’s stock, valued at approximately $190,214,000. Norges Bank owned about 1.76% of Universal Display at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Orion Capital Management LLC bought a new position in Universal Display during the 4th quarter worth approximately $46,000. Sowell Financial Services LLC grew its position in Universal Display by 37.5% during the 4th quarter. Sowell Financial Services LLC now owns 220 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 60 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Universal Display during the 4th quarter worth approximately $73,000. Skandinaviska Enskilda Banken AB publ bought a new position in Universal Display during the 4th quarter worth approximately $80,000. Finally, Advisory Alpha LLC bought a new position in Universal Display during the 3rd quarter worth approximately $81,000. Hedge funds and other institutional investors own 70.78% of the company’s stock.
OLED has been the subject of several research analyst reports. Oppenheimer reiterated a “buy” rating and issued a $275.00 price objective on shares of Universal Display in a report on Thursday, March 4th. Citigroup lifted their price objective on Universal Display from $204.00 to $260.00 in a research note on Monday, January 25th. Roth Capital raised Universal Display from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $230.00 to $250.00 in a report on Monday, March 15th. Needham & Company LLC lifted their price objective on Universal Display from $240.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 25th. Finally, The Goldman Sachs Group boosted their price target on Universal Display from $214.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, December 29th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Universal Display currently has an average rating of “Hold” and an average price target of $251.13.
Shares of NASDAQ OLED opened at $240.75 on Thursday. The stock has a market capitalization of $11.34 billion, a PE ratio of 107.96, a price-to-earnings-growth ratio of 2.08 and a beta of 1.43. Universal Display Co. has a 12-month low of $130.35 and a 12-month high of $262.77. The stock’s fifty day simple moving average is $223.24 and its two-hundred day simple moving average is $220.22.
Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Wednesday, February 17th. The semiconductor company reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.49. Universal Display had a return on equity of 13.21% and a net margin of 27.22%. The firm had revenue of $141.54 million during the quarter, compared to analyst estimates of $106.98 million. As a group, analysts forecast that Universal Display Co. will post 2.3 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Tuesday, March 16th were issued a dividend of $0.20 per share. This is a boost from Universal Display’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 0.33%. The ex-dividend date was Monday, March 15th. Universal Display’s payout ratio is currently 24.24%.
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. As of February 18, 2021, it owned, exclusively licenses, or had sole rights to sublicense approximately 5,000 issued and pending patents worldwide.
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