Point72 Asset Management L.P. Purchases Shares of 266,631 Universal Display Co. (NASDAQ:OLED)

Point72 Asset Management L.P. purchased a new stake in shares of Universal Display Co. (NASDAQ:OLED) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 266,631 shares of the semiconductor company’s stock, valued at approximately $38,981,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. boosted its stake in shares of Universal Display by 37.2% in the fourth quarter. Pacer Advisors Inc. now owns 27,246 shares of the semiconductor company’s stock valued at $3,983,000 after purchasing an additional 7,390 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Universal Display by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 341,019 shares of the semiconductor company’s stock valued at $49,857,000 after purchasing an additional 7,147 shares during the period. Sterling Capital Management LLC boosted its stake in shares of Universal Display by 35.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,767 shares of the semiconductor company’s stock valued at $258,000 after purchasing an additional 458 shares during the period. Inspire Investing LLC purchased a new position in shares of Universal Display in the fourth quarter valued at approximately $462,000. Finally, Empirical Asset Management LLC purchased a new position in shares of Universal Display in the fourth quarter valued at approximately $388,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Stock Up 1.6%

Shares of Universal Display stock opened at $155.51 on Friday. Universal Display Co. has a 52-week low of $103.70 and a 52-week high of $237.00. The company has a 50 day moving average of $134.67 and a 200 day moving average of $148.75. The company has a market capitalization of $7.39 billion, a P/E ratio of 33.44, a P/E/G ratio of 1.61 and a beta of 1.46.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.28. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The company had revenue of $166.28 million for the quarter, compared to analysts’ expectations of $154.76 million. During the same quarter last year, the company earned $1.19 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. As a group, research analysts anticipate that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.80 dividend on an annualized basis and a yield of 1.16%. Universal Display’s payout ratio is currently 37.42%.

Wall Street Analyst Weigh In

OLED has been the subject of several recent research reports. Susquehanna lowered their price objective on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Needham & Company LLC reissued a “buy” rating and issued a $170.00 price objective on shares of Universal Display in a research note on Friday, May 2nd. Citigroup decreased their price target 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. StockNews.com upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group decreased their price target 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. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average 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.