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

Oppenheimer & Co. Inc. raised its position in shares of Universal Display Co. (NASDAQ:OLED) by 26.4% during the 4th quarter, Holdings Channel reports. The fund owned 44,167 shares of the semiconductor company’s stock after purchasing an additional 9,235 shares during the period. Oppenheimer & Co. Inc.’s holdings in Universal Display were worth $6,457,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OLED. Assetmark Inc. purchased a new stake in Universal Display during the third quarter valued at approximately $29,000. Brooklyn Investment Group bought a new position in shares of Universal Display during the 3rd quarter valued at approximately $30,000. True Wealth Design LLC purchased a new stake in Universal Display during the 3rd quarter valued at $36,000. Nisa Investment Advisors LLC lifted its position in Universal Display by 60.2% in the third quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock worth $36,000 after buying an additional 65 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Universal Display by 401.9% during the fourth quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company’s stock worth $38,000 after buying an additional 209 shares during the period. 78.19% of the stock is currently owned by institutional investors.

Universal Display Price Performance

Shares of OLED stock opened at $150.99 on Friday. The company’s 50-day simple moving average is $148.67 and its two-hundred day simple moving average is $173.52. The company has a market capitalization of $7.17 billion, a P/E ratio of 32.47, a P/E/G ratio of 1.61 and a beta of 1.39. Universal Display Co. has a one year low of $140.17 and a one year high of $237.00.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.14. The business had revenue of $162.29 million for the quarter, compared to the consensus estimate of $152.75 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. On average, research analysts expect that Universal Display Co. will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.45 dividend. The ex-dividend date is Monday, March 17th. This is an increase from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 1.19%. Universal Display’s payout ratio is currently 38.71%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OLED. Susquehanna reduced their target price on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Citigroup reduced their price objective on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Roth Mkm raised their price objective 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. The Goldman Sachs Group cut their target price 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. Finally, Oppenheimer decreased their price target on Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.