Oppenheimer & Co. Inc. Acquires 9,235 Shares of Universal Display Co. (NASDAQ:OLED)

Oppenheimer & Co. Inc. raised its stake in shares of Universal Display Co. (NASDAQ:OLED) by 26.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 44,167 shares of the semiconductor company’s stock after acquiring an additional 9,235 shares during the period. Oppenheimer & Co. Inc. owned approximately 0.09% of Universal Display worth $6,457,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new position in Universal Display during the third quarter valued at approximately $6,785,000. State of Alaska Department of Revenue raised its stake in Universal Display by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 5,072 shares of the semiconductor company’s stock valued at $1,064,000 after buying an additional 345 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Universal Display by 60.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 65 shares during the period. Pallas Capital Advisors LLC purchased a new position in shares of Universal Display in the 3rd quarter worth $333,000. Finally, US Bancorp DE grew its holdings in shares of Universal Display by 43.9% in the third quarter. US Bancorp DE now owns 5,037 shares of the semiconductor company’s stock worth $1,057,000 after acquiring an additional 1,536 shares during the period. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on OLED shares. Citigroup lowered their target price on Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Needham & Company LLC lowered their price objective on shares of Universal Display from $215.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. The Goldman Sachs Group cut their target price on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Oppenheimer decreased 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 report on Thursday, January 2nd. Finally, Roth Mkm lifted their price target on shares of Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $190.43.

Universal Display Stock Down 6.6 %

NASDAQ OLED opened at $150.99 on Friday. Universal Display Co. has a twelve month low of $140.17 and a twelve month high of $237.00. The business has a 50-day moving average price of $148.67 and a 200-day moving average price of $173.52. The firm has a market cap of $7.17 billion, a price-to-earnings ratio of 32.47, a price-to-earnings-growth ratio of 1.61 and a beta of 1.39.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share for the quarter, topping 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 business had revenue of $162.29 million during the quarter, compared to the consensus estimate of $152.75 million. Research 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. Investors of record on Monday, March 17th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.19%. This is a boost from Universal Display’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, March 17th. Universal Display’s dividend payout ratio (DPR) is presently 38.71%.

About Universal Display

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.