Assenagon Asset Management S.A. Grows Position in Universal Display Co. (NASDAQ:OLED)

Assenagon Asset Management S.A. increased its position in Universal Display Co. (NASDAQ:OLEDGet Rating) by 3,653.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 85,697 shares of the semiconductor company’s stock after purchasing an additional 83,414 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.18% of Universal Display worth $8,086,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in OLED. TCI Wealth Advisors Inc. lifted its stake in shares of Universal Display by 5,050.0% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 309 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 303 shares during the period. Field & Main Bank purchased a new position in shares of Universal Display in the 2nd quarter valued at approximately $40,000. NuWave Investment Management LLC purchased a new position in shares of Universal Display in the 3rd quarter valued at approximately $41,000. First Horizon Advisors Inc. increased its position in Universal Display by 2,236.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 701 shares of the semiconductor company’s stock valued at $70,000 after buying an additional 671 shares in the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in Universal Display during the 1st quarter valued at approximately $93,000. Hedge funds and other institutional investors own 73.43% of the company’s stock.

Analysts Set New Price Targets

OLED has been the subject of a number of analyst reports. StockNews.com initiated coverage on Universal Display in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Citigroup reduced their price objective on Universal Display from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, November 21st. The Goldman Sachs Group reduced their price objective on Universal Display from $185.00 to $158.00 and set a “buy” rating for the company in a research report on Friday, November 4th. Cowen reduced their price objective on Universal Display from $145.00 to $130.00 in a research report on Friday, November 4th. Finally, Oppenheimer reduced their price objective on Universal Display from $150.00 to $135.00 in a research report on Friday, November 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $139.56.

Universal Display Trading Up 4.2 %

Universal Display stock opened at $111.82 on Monday. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 1.53 and a beta of 1.39. The stock has a fifty day simple moving average of $108.36 and a two-hundred day simple moving average of $107.82. Universal Display Co. has a 12 month low of $89.41 and a 12 month high of $176.41.

Universal Display (NASDAQ:OLEDGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.22. The firm had revenue of $160.56 million for the quarter, compared to the consensus estimate of $144.79 million. Universal Display had a return on equity of 16.56% and a net margin of 32.13%. On average, equities research analysts forecast that Universal Display Co. will post 3.97 EPS for the current fiscal year.

Universal Display Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Friday, December 16th were paid a $0.30 dividend. The ex-dividend date was Thursday, December 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.07%. Universal Display’s dividend payout ratio (DPR) is currently 30.00%.

About Universal Display

(Get Rating)

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. It owns, exclusively licenses, or has sole rights to sublicense approximately 5,500 issued and pending patents worldwide.

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Institutional Ownership by Quarter for Universal Display (NASDAQ:OLED)

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