Portside Wealth Group LLC Buys New Stake in Universal Display Co. (NASDAQ:OLED)

Portside Wealth Group LLC acquired a new position in shares of Universal Display Co. (NASDAQ:OLED) in the 1st quarter, HoldingsChannel reports. The fund acquired 1,718 shares of the semiconductor company’s stock, valued at approximately $240,000.

Other hedge funds have also made changes to their positions in the company. Orion Capital Management LLC purchased a new stake in Universal Display in the fourth quarter valued at $29,000. Brown Brothers Harriman & Co. boosted its stake in shares of Universal Display by 280.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company’s stock worth $31,000 after buying an additional 154 shares during the period. Blue Trust Inc. grew its stake in shares of Universal Display by 401.9% in the 4th quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 209 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Universal Display in the 4th quarter valued at $40,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Universal Display by 761.1% in the fourth quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company’s stock valued at $45,000 after acquiring an additional 274 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Susquehanna decreased their price target on Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Needham & Company LLC reiterated a “buy” rating and set a $170.00 price objective on shares of Universal Display in a research report on Friday, May 2nd. Roth Mkm upped their price objective 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. Finally, Wall Street Zen raised Universal Display from a “sell” rating to a “hold” rating in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Universal Display currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.43.

Universal Display Stock Performance

OLED stock opened at $160.78 on Thursday. The stock has a 50-day simple moving average of $136.06 and a 200-day simple moving average of $145.55. The firm has a market cap of $7.64 billion, a P/E ratio of 34.58, a price-to-earnings-growth ratio of 1.61 and a beta of 1.50. Universal Display Co. has a 1 year low of $103.70 and a 1 year high of $237.00.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, May 1st. The semiconductor company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.28. The firm had revenue of $166.28 million for the quarter, compared to analyst estimates of $154.76 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.19 EPS. On average, equities research analysts predict that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.12%. Universal Display’s payout ratio is 37.42%.

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.