Geode Capital Management LLC Grows Stock Position in Universal Display Co. (NASDAQ:OLED)

Geode Capital Management LLC lifted its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 12.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 901,315 shares of the semiconductor company’s stock after acquiring an additional 101,963 shares during the period. Geode Capital Management LLC’s holdings in Universal Display were worth $131,806,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. boosted its stake in Universal Display by 37.2% in the 4th quarter. Pacer Advisors Inc. now owns 27,246 shares of the semiconductor company’s stock worth $3,983,000 after purchasing an additional 7,390 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Universal Display by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 341,019 shares of the semiconductor company’s stock worth $49,857,000 after buying an additional 7,147 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings 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 buying an additional 92,410 shares during the last quarter. Inspire Investing LLC acquired a new position in shares of Universal Display in the 4th quarter valued at $462,000. Finally, Sanctuary Advisors LLC purchased a new position in Universal Display in the 3rd quarter worth $2,356,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OLED. StockNews.com upgraded Universal Display from a “sell” rating to a “hold” rating in a research note on Friday, March 21st. Citigroup cut their price target on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. The Goldman Sachs Group decreased their price objective on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Oppenheimer cut their price objective 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, Needham & Company LLC reduced their target price on shares of Universal Display from $215.00 to $170.00 and set a “buy” rating for the company in a report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $190.43.

Universal Display Stock Performance

Shares of NASDAQ OLED opened at $106.60 on Wednesday. Universal Display Co. has a 1 year low of $103.70 and a 1 year high of $237.00. The company’s fifty day moving average price is $145.20 and its 200 day moving average price is $163.34. The company has a market capitalization of $5.06 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

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

Universal Display Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.45 per share. This is a positive change from Universal Display’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, March 17th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.69%. Universal Display’s dividend payout ratio (DPR) is 38.71%.

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.