BNP Paribas Financial Markets raised its holdings in shares of Universal Display Corporation (NASDAQ:OLED – Free Report) by 34.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 190,644 shares of the semiconductor company’s stock after buying an additional 49,110 shares during the period. BNP Paribas Financial Markets’ holdings in Universal Display were worth $22,263,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Universal Display by 10.0% during the third quarter. Vanguard Group Inc. now owns 5,069,107 shares of the semiconductor company’s stock valued at $728,076,000 after buying an additional 460,792 shares during the period. Primecap Management Co. CA boosted its position in Universal Display by 1.9% during the third quarter. Primecap Management Co. CA now owns 2,258,378 shares of the semiconductor company’s stock valued at $324,371,000 after buying an additional 43,070 shares during the period. Geode Capital Management LLC boosted its position in Universal Display by 25.0% during the fourth quarter. Geode Capital Management LLC now owns 1,109,077 shares of the semiconductor company’s stock valued at $129,537,000 after buying an additional 222,108 shares during the period. Norges Bank bought a new position in shares of Universal Display during the fourth quarter valued at about $92,756,000. Finally, Greenhouse Funds LLLP raised its stake in shares of Universal Display by 12.6% during the third quarter. Greenhouse Funds LLLP now owns 725,278 shares of the semiconductor company’s stock valued at $104,172,000 after acquiring an additional 81,132 shares during the last quarter. 78.19% of the stock is currently owned by hedge funds and other institutional investors.
Universal Display Stock Down 4.5%
Shares of OLED stock opened at $86.11 on Friday. The company has a 50 day moving average price of $93.31 and a 200-day moving average price of $106.93. Universal Display Corporation has a 52 week low of $83.64 and a 52 week high of $163.21. The firm has a market capitalization of $4.03 billion, a PE ratio of 19.22 and a beta of 1.54.
Universal Display Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.3%. Universal Display’s dividend payout ratio (DPR) is presently 44.64%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the stock. Wall Street Zen raised shares of Universal Display from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Needham & Company LLC lowered their price objective on shares of Universal Display from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Zacks Research downgraded shares of Universal Display from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Universal Display in a research note on Monday, March 23rd. Finally, Roth Mkm set a $168.00 price objective on shares of Universal Display in a research note on Friday, May 1st. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $130.60.
Read Our Latest Analysis on OLED
Universal Display Profile
Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.
Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.
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