Cardinal Capital Management Acquires 558 Shares of Universal Display Co. (NASDAQ:OLED)

Cardinal Capital Management boosted its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 5.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,120 shares of the semiconductor company’s stock after acquiring an additional 558 shares during the period. Cardinal Capital Management’s holdings in Universal Display were worth $1,412,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Universal Display by 1.4% during the fourth 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. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Universal Display by 2.8% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,536,513 shares of the semiconductor company’s stock worth $370,838,000 after acquiring an additional 69,043 shares in the last quarter. Geode Capital Management LLC lifted its holdings in 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 acquiring an additional 101,963 shares in the last quarter. Norges Bank bought a new position in Universal Display during the fourth quarter worth about $95,924,000. Finally, Greenhouse Funds LLLP lifted its holdings in Universal Display by 11.2% during the fourth quarter. Greenhouse Funds LLLP now owns 583,603 shares of the semiconductor company’s stock worth $85,323,000 after acquiring an additional 58,775 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

Universal Display Stock Up 1.5%

Shares of NASDAQ OLED opened at $155.88 on Tuesday. The business’s 50 day moving average price is $138.91 and its two-hundred day moving average price is $145.14. The company has a market cap of $7.41 billion, a PE ratio of 33.52, a price-to-earnings-growth ratio of 1.61 and a beta of 1.50. Universal Display Co. has a twelve month low of $103.70 and a twelve month high of $237.00.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share 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 the consensus estimate of $154.76 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The business’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.19 earnings per share. As a group, research analysts anticipate that Universal Display Co. will post 4.71 EPS for the current fiscal year.

Universal Display Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Monday, June 16th. Universal Display’s payout ratio is 37.42%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on OLED shares. Roth Mkm lifted their target price on Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Wall Street Zen upgraded Universal Display from a “sell” rating to a “hold” rating in a report on Friday, May 2nd. Susquehanna cut their price target on Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $170.00 price target on shares of Universal Display in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.