Vanguard Group Inc. Buys 67,590 Shares of Universal Display Co. (NASDAQ:OLED)

Vanguard Group Inc. raised its stake in Universal Display Co. (NASDAQ:OLED) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,784,099 shares of the semiconductor company’s stock after acquiring an additional 67,590 shares during the quarter. Vanguard Group Inc. owned approximately 10.08% of Universal Display worth $699,435,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Cerity Partners LLC increased its position in Universal Display by 385.2% in the third quarter. Cerity Partners LLC now owns 8,588 shares of the semiconductor company’s stock worth $1,803,000 after buying an additional 6,818 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Universal Display in the 3rd quarter worth about $30,000. BNP Paribas Financial Markets raised its stake in Universal Display by 8.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 52,713 shares of the semiconductor company’s stock valued at $11,064,000 after acquiring an additional 4,269 shares during the period. Glenmede Trust Co. NA lifted its holdings in Universal Display by 1.6% during the third quarter. Glenmede Trust Co. NA now owns 6,046 shares of the semiconductor company’s stock valued at $1,269,000 after purchasing an additional 97 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Universal Display by 22.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,680 shares of the semiconductor company’s stock worth $2,452,000 after purchasing an additional 2,169 shares during the period. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Stock Down 3.1 %

Universal Display stock opened at $145.17 on Monday. The business has a 50-day simple moving average of $149.47 and a 200 day simple moving average of $167.82. Universal Display Co. has a 52 week low of $140.17 and a 52 week high of $237.00. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 31.22, a PEG ratio of 1.61 and a beta of 1.40.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data 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 net margin of 34.29% and a return on equity of 15.51%. The company had revenue of $162.29 million for the quarter, compared to analysts’ expectations of $152.75 million. On average, research analysts anticipate that Universal Display Co. will post 4.71 earnings per share for the current 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 given a $0.45 dividend. The ex-dividend date is Monday, March 17th. This is a positive change from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 1.24%. Universal Display’s payout ratio is 38.71%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Roth Mkm boosted their price target on shares of Universal Display from $207.00 to $213.00 and gave the company a “buy” rating in a research report on Friday, February 21st. The Goldman Sachs Group lowered their target price on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Needham & Company LLC reduced their price target on Universal Display from $215.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Citigroup dropped their price objective on Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Finally, Susquehanna reduced their target price on Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently 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.