Rockbridge Capital Management LLC Acquires New Position in Universal Display Co. (NASDAQ:OLED)

Rockbridge Capital Management LLC acquired a new stake in Universal Display Co. (NASDAQ:OLED) during the 4th quarter, HoldingsChannel reports. The firm acquired 12,468 shares of the semiconductor company’s stock, valued at approximately $1,823,000. Universal Display makes up 1.0% of Rockbridge Capital Management LLC’s investment portfolio, making the stock its 16th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. increased its holdings in Universal Display by 280.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company’s stock worth $31,000 after buying an additional 154 shares during the last quarter. Blue Trust Inc. grew its position in Universal Display by 401.9% in the fourth quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 209 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Universal Display during the 4th quarter worth $40,000. Farther Finance Advisors LLC increased its stake in shares of Universal Display by 761.1% during the 4th quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 274 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Universal Display by 185.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 357 shares of the semiconductor company’s stock valued at $52,000 after purchasing an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Price Performance

Shares of OLED opened at $154.04 on Thursday. The company has a market capitalization of $7.32 billion, a PE ratio of 33.13, a price-to-earnings-growth ratio of 1.61 and a beta of 1.46. Universal Display Co. has a one year low of $103.70 and a one year high of $237.00. The company’s fifty day moving average price is $134.61 and its 200 day moving average price is $149.51.

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

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.45 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.17%. Universal Display’s payout ratio is 37.42%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OLED. StockNews.com upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a report on Friday, May 2nd. Citigroup reduced their price target on Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Needham & Company LLC reiterated a “buy” rating and set a $170.00 price target on shares of Universal Display in a research note on Friday, May 2nd. Susquehanna lowered their price objective on Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Finally, The Goldman Sachs Group cut their price objective 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. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Universal Display presently has a consensus rating of “Moderate Buy” and an average target price of $190.43.

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.