Icon Advisers Inc. Co. Acquires 6,184 Shares of Universal Display Co. (NASDAQ:OLED)

Icon Advisers Inc. Co. boosted its position in shares of Universal Display Co. (NASDAQ:OLED) by 37.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 22,784 shares of the semiconductor company’s stock after purchasing an additional 6,184 shares during the quarter. Icon Advisers Inc. Co.’s holdings in Universal Display were worth $3,331,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in OLED. Brown Brothers Harriman & Co. increased its stake in shares of Universal Display by 280.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 154 shares during the last quarter. Blue Trust Inc. raised its holdings in Universal Display by 401.9% in the fourth quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 209 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of Universal Display during the fourth quarter worth $40,000. Farther Finance Advisors LLC increased its position in shares of Universal Display by 761.1% in the 4th quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 274 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in Universal Display by 185.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 357 shares of the semiconductor company’s stock worth $52,000 after acquiring an additional 232 shares in the last quarter. Institutional investors own 78.19% of the company’s stock.

Universal Display Stock Up 4.3 %

OLED stock opened at $112.72 on Monday. The firm has a market cap of $5.35 billion, a P/E ratio of 24.24, a P/E/G ratio of 1.61 and a beta of 1.42. The company’s 50-day moving average price is $142.83 and its two-hundred day moving average price is $160.75. Universal Display Co. has a 12 month low of $103.70 and a 12 month high of $237.00.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $152.75 million. Equities analysts predict that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.60%. This is a boost from Universal Display’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, March 17th. Universal Display’s dividend payout ratio is presently 38.71%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Roth Mkm boosted their price objective 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 decreased their target price on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Citigroup lowered their target price on Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Needham & Company LLC lowered their price target on Universal Display from $215.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Finally, Oppenheimer decreased their target price on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.