656,117 Shares in Universal Display Co. (NASDAQ:OLED) Bought by Norges Bank

Norges Bank acquired a new stake in shares of Universal Display Co. (NASDAQ:OLED) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 656,117 shares of the semiconductor company’s stock, valued at approximately $95,924,000. Norges Bank owned 1.38% of Universal Display at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in OLED. Raymond James Financial Inc. purchased a new stake in Universal Display in the fourth quarter worth about $41,504,000. Jennison Associates LLC raised its position in shares of Universal Display by 58.2% in the 4th quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock worth $99,975,000 after acquiring an additional 251,557 shares in the last quarter. Barclays PLC lifted its stake in shares of Universal Display by 753.8% in the 3rd quarter. Barclays PLC now owns 212,518 shares of the semiconductor company’s stock valued at $44,608,000 after purchasing an additional 187,627 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Universal Display by 95.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 189,603 shares of the semiconductor company’s stock valued at $27,720,000 after purchasing an additional 92,410 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in Universal Display by 200.0% in the third quarter. Stifel Financial Corp now owns 120,234 shares of the semiconductor company’s stock worth $25,237,000 after purchasing an additional 80,162 shares during the period. 78.19% of the stock is currently owned by institutional investors.

Universal Display Trading Down 0.4 %

Shares of OLED opened at $138.89 on Wednesday. The company has a market cap of $6.59 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 1.61 and a beta of 1.40. The business’s fifty day simple moving average is $149.05 and its two-hundred day simple moving average is $166.88. Universal Display Co. has a 12 month low of $136.70 and a 12 month high of $237.00.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.08 by $0.14. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The company had revenue of $162.29 million for the quarter, compared to analysts’ expectations of $152.75 million. As a group, research analysts forecast that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.30%. This is a boost from Universal Display’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, March 17th. Universal Display’s payout ratio is presently 38.71%.

Wall Street Analyst Weigh In

OLED has been the topic of a number of research reports. Oppenheimer dropped their target price on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, January 2nd. StockNews.com raised shares of Universal Display from a “sell” rating to a “hold” rating in a research note on Friday, March 21st. Citigroup dropped their price target on Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. The Goldman Sachs Group cut their price target on Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Finally, Susquehanna dropped their target price on Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus 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.