Pilgrim Partners Asia Pte Ltd Purchases New Position in Universal Display Co. (NASDAQ:OLED)

Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Universal Display Co. (NASDAQ:OLED) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 380 shares of the semiconductor company’s stock, valued at approximately $56,000.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in Universal Display by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 4,784,099 shares of the semiconductor company’s stock worth $699,435,000 after acquiring an additional 67,590 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Universal Display by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 901,315 shares of the semiconductor company’s stock worth $131,806,000 after purchasing an additional 101,963 shares during the last quarter. Jennison Associates LLC increased its position 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 worth $99,975,000 after purchasing an additional 251,557 shares in the last quarter. Norges Bank purchased a new stake in shares of Universal Display in the 4th quarter valued at about $95,924,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Universal Display by 10.7% in 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 purchasing an additional 42,218 shares during the period. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Stock Down 3.5 %

Shares of NASDAQ:OLED opened at $113.42 on Friday. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 1.61 and a beta of 1.40. Universal Display Co. has a fifty-two week low of $109.66 and a fifty-two week high of $237.00. The firm’s 50-day simple moving average is $147.52 and its 200-day simple moving average is $165.72.

Universal Display (NASDAQ:OLED) last released its earnings results 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. The company had revenue of $162.29 million for the quarter, compared to analysts’ expectations of $152.75 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. On average, research analysts forecast that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.45 per share. This is a positive change from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Monday, March 17th. Universal Display’s payout ratio is presently 38.71%.

Analysts Set New Price Targets

OLED has been the topic of several research analyst reports. Citigroup cut their price target 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. StockNews.com raised shares of Universal Display from a “sell” rating to a “hold” rating in a report on Friday, March 21st. Roth Mkm increased their price target 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 lowered their price objective on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, Needham & Company LLC reduced their target price on shares of Universal Display from $215.00 to $170.00 and set a “buy” rating for the company in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Universal Display presently has an average rating of “Moderate Buy” and an average price target of $190.43.

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.