Versor Investments LP Buys Shares of 3,257 Universal Display Co. (NASDAQ:OLED)

Versor Investments LP purchased a new position in shares of Universal Display Co. (NASDAQ:OLED) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 3,257 shares of the semiconductor company’s stock, valued at approximately $476,000.

A number of other hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in Universal Display by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 799,352 shares of the semiconductor company’s stock worth $167,825,000 after purchasing an additional 15,015 shares during the period. Jennison Associates LLC raised its stake in shares of Universal Display by 58.2% in the fourth quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock worth $99,975,000 after buying an additional 251,557 shares during the period. Van ECK Associates Corp lifted its position in shares of Universal Display by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company’s stock valued at $101,914,000 after buying an additional 108,394 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Universal Display by 10.7% during the 4th quarter. Bank of New York Mellon Corp now owns 437,592 shares of the semiconductor company’s stock valued at $63,976,000 after acquiring an additional 42,218 shares during the period. Finally, Southpoint Capital Advisors LP grew its stake in shares of Universal Display by 46.0% during the 3rd quarter. Southpoint Capital Advisors LP now owns 365,000 shares of the semiconductor company’s stock valued at $76,614,000 after acquiring an additional 115,000 shares during the period. Institutional investors own 78.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on OLED shares. The Goldman Sachs Group lowered their price target 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. Roth Mkm lifted their target price on shares of Universal Display from $207.00 to $213.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Susquehanna cut their price target on Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Citigroup decreased their price target 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, Oppenheimer dropped their price objective 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $190.43.

Universal Display Stock Up 1.7 %

Shares of OLED stock opened at $153.62 on Friday. The company’s fifty day simple moving average is $148.76 and its two-hundred day simple moving average is $173.34. 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 $7.29 billion, a P/E ratio of 33.04, a PEG ratio of 1.61 and a beta of 1.39.

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

Universal Display Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.17%. Universal Display’s dividend payout ratio (DPR) is 38.71%.

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.