New York Life Investment Management LLC Buys 301 Shares of Universal Display Co. (NASDAQ:OLED)

New York Life Investment Management LLC lifted its position in Universal Display Co. (NASDAQ:OLED) by 6.5% during the 4th quarter, Holdings Channel reports. The firm owned 4,956 shares of the semiconductor company’s stock after buying an additional 301 shares during the quarter. New York Life Investment Management LLC’s holdings in Universal Display were worth $948,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Universal Display by 0.5% during the third quarter. Vanguard Group Inc. now owns 4,511,145 shares of the semiconductor company’s stock worth $708,205,000 after buying an additional 23,944 shares during the last quarter. FMR LLC grew its position in Universal Display by 10.6% during the 3rd quarter. FMR LLC now owns 1,398,961 shares of the semiconductor company’s stock worth $219,623,000 after acquiring an additional 134,000 shares during the last quarter. Jennison Associates LLC increased its holdings in Universal Display by 0.4% during the 4th quarter. Jennison Associates LLC now owns 903,068 shares of the semiconductor company’s stock valued at $172,721,000 after purchasing an additional 3,397 shares in the last quarter. Vontobel Holding Ltd. raised its position in Universal Display by 6.4% in the 4th quarter. Vontobel Holding Ltd. now owns 309,804 shares of the semiconductor company’s stock valued at $59,253,000 after purchasing an additional 18,582 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Universal Display by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 308,522 shares of the semiconductor company’s stock worth $48,435,000 after purchasing an additional 3,780 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Stock Down 0.6 %

OLED stock opened at $175.18 on Wednesday. Universal Display Co. has a twelve month low of $133.67 and a twelve month high of $194.84. The business’s fifty day moving average is $163.46 and its 200-day moving average is $169.36. The company has a market cap of $8.31 billion, a P/E ratio of 38.08, a price-to-earnings-growth ratio of 1.85 and a beta of 1.44.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.14. The firm had revenue of $165.26 million for the quarter, compared to analyst estimates of $150.75 million. Universal Display had a return on equity of 15.57% and a net margin of 36.00%. The company’s quarterly revenue was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 earnings per share. Research analysts anticipate that Universal Display Co. will post 4.74 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Friday, June 14th. Universal Display’s dividend payout ratio is currently 34.78%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Citigroup restated a “neutral” rating and issued a $180.00 target price (up from $161.00) on shares of Universal Display in a research note on Friday, January 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 target price (down from $210.00) on shares of Universal Display in a research note on Friday, February 23rd. TD Cowen upped their target price on shares of Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $198.00 price target on shares of Universal Display in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $199.86.

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.