Versor Investments LP Takes $476,000 Position in Universal Display Co. (NASDAQ:OLED)

Versor Investments LP purchased a new stake in shares of Universal Display Co. (NASDAQ:OLED) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,257 shares of the semiconductor company’s stock, valued at approximately $476,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its holdings in shares of Universal Display by 58.2% during the 4th quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock valued at $99,975,000 after buying an additional 251,557 shares in the last quarter. Citigroup Inc. boosted its stake in Universal Display by 1,387.6% during the third quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company’s stock worth $54,936,000 after acquiring an additional 244,129 shares in the last quarter. Barclays PLC grew its holdings in Universal Display by 753.8% in the third quarter. Barclays PLC now owns 212,518 shares of the semiconductor company’s stock worth $44,608,000 after purchasing an additional 187,627 shares during the period. Southpoint Capital Advisors LP increased its stake in shares of Universal Display by 46.0% during the third quarter. Southpoint Capital Advisors LP now owns 365,000 shares of the semiconductor company’s stock valued at $76,614,000 after purchasing an additional 115,000 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Universal Display by 27.2% during the third quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company’s stock valued at $101,914,000 after purchasing an additional 108,394 shares during the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Price Performance

Universal Display stock opened at $153.62 on Friday. Universal Display Co. has a one year low of $140.17 and a one year high of $237.00. The business’s fifty day moving average is $148.76 and its 200 day moving average is $173.34. The stock has a market capitalization of $7.29 billion, a PE ratio of 33.04, a price-to-earnings-growth ratio of 1.61 and a beta of 1.39.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.14. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The firm had revenue of $162.29 million for the quarter, compared to the consensus estimate of $152.75 million. As a group, sell-side analysts expect that Universal Display Co. will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, March 17th. This is a positive change from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 1.17%. Universal Display’s payout ratio is currently 38.71%.

Analyst Ratings Changes

Several research firms recently weighed in on OLED. 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. Susquehanna cut their target price on Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. The Goldman Sachs Group reduced their price target on Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Oppenheimer dropped 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 reduced their price objective 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. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Universal Display has an average rating of “Moderate Buy” and an average price target 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.