Universal Display Co. (NASDAQ:OLED) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in Universal Display Co. (NASDAQ:OLED) by 10.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 437,592 shares of the semiconductor company’s stock after acquiring an additional 42,218 shares during the quarter. Bank of New York Mellon Corp owned 0.92% of Universal Display worth $63,976,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its holdings in shares of Universal Display by 58.2% during the fourth quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock valued at $99,975,000 after purchasing an additional 251,557 shares during the period. Citigroup Inc. increased its stake in Universal Display by 1,387.6% during the 3rd quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company’s stock valued at $54,936,000 after buying an additional 244,129 shares during the period. Barclays PLC raised its position in shares of Universal Display by 753.8% during the 3rd quarter. Barclays PLC now owns 212,518 shares of the semiconductor company’s stock worth $44,608,000 after buying an additional 187,627 shares in the last quarter. Southpoint Capital Advisors LP lifted its stake in shares of Universal Display by 46.0% in the 3rd quarter. Southpoint Capital Advisors LP now owns 365,000 shares of the semiconductor company’s stock worth $76,614,000 after acquiring an additional 115,000 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of Universal Display by 27.2% in the third quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company’s stock valued at $101,914,000 after acquiring an additional 108,394 shares in the last quarter. Institutional investors own 78.19% of the company’s stock.

Universal Display Stock Down 5.1 %

Shares of Universal Display stock opened at $145.81 on Tuesday. Universal Display Co. has a 12-month low of $140.17 and a 12-month high of $237.00. The firm has a market capitalization of $6.92 billion, a PE ratio of 31.36, a price-to-earnings-growth ratio of 1.61 and a beta of 1.39. The stock’s fifty day moving average is $148.64 and its 200-day moving average is $173.01.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) 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 firm had revenue of $162.29 million for the quarter, compared to the consensus estimate of $152.75 million. Analysts expect that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.45 dividend. This is a positive change from Universal Display’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.80 dividend on an annualized basis and a yield of 1.23%. Universal Display’s dividend payout ratio (DPR) is currently 38.71%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on OLED shares. Needham & Company LLC dropped their target price on Universal Display from $215.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Roth Mkm boosted their price objective on Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Citigroup cut their price objective on Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Oppenheimer lowered their target price on Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, January 2nd. Finally, Susquehanna cut their price target on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $190.43.

Universal Display 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.