Van ECK Associates Corp Boosts Stake in Universal Display Co. (NASDAQ:OLED)

Van ECK Associates Corp raised its position in Universal Display Co. (NASDAQ:OLED) by 18.3% during the fourth quarter, Holdings Channel reports. The firm owned 270,184 shares of the semiconductor company’s stock after buying an additional 41,795 shares during the quarter. Van ECK Associates Corp’s holdings in Universal Display were worth $51,676,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in OLED. Orion Capital Management LLC purchased a new stake in Universal Display during the 3rd quarter worth about $31,000. Rise Advisors LLC purchased a new stake in Universal Display in the fourth quarter valued at approximately $57,000. GAMMA Investing LLC acquired a new stake in shares of Universal Display in the fourth quarter valued at approximately $73,000. Fifth Third Bancorp grew its position in shares of Universal Display by 22.5% during the third quarter. Fifth Third Bancorp now owns 593 shares of the semiconductor company’s stock worth $93,000 after acquiring an additional 109 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Universal Display by 21.0% in the 4th quarter. CWM LLC now owns 606 shares of the semiconductor company’s stock valued at $116,000 after acquiring an additional 105 shares during the period. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Trading Down 1.2 %

OLED traded down $1.91 during trading on Tuesday, reaching $160.11. 35,944 shares of the company’s stock were exchanged, compared to its average volume of 275,930. The stock has a market capitalization of $7.60 billion, a PE ratio of 38.21, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45. Universal Display Co. has a one year low of $125.98 and a one year high of $194.84. The firm has a fifty day moving average price of $165.10 and a two-hundred day moving average price of $169.17.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.11. The firm had revenue of $158.32 million during the quarter, compared to the consensus estimate of $161.08 million. Universal Display had a return on equity of 14.85% and a net margin of 35.22%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 EPS. Sell-side analysts expect that Universal Display Co. will post 4.72 earnings per share for the current year.

Universal Display Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.60 annualized dividend and a yield of 1.00%. This is a positive change from Universal Display’s previous quarterly dividend of $0.35. Universal Display’s payout ratio is presently 37.74%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on OLED. TD Cowen lifted their target price on Universal Display from $165.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Citigroup restated a “neutral” rating and set a $180.00 target price (up previously from $161.00) on shares of Universal Display in a research report on Friday, January 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 target price (down from $210.00) on shares of Universal Display in a research report on Friday, February 23rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $198.00 target price on shares of Universal Display in a research note on Tuesday, March 26th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Universal Display currently has a consensus rating of “Moderate Buy” and an average price target of $199.86.

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.