Edgestream Partners L.P. bought a new position in shares of Universal Display Co. (NASDAQ:OLED – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,389 shares of the semiconductor company’s stock, valued at approximately $1,554,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Principal Securities Inc. bought a new stake in Universal Display during the 4th quarter worth $34,000. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Universal Display by 8.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,565 shares of the semiconductor company’s stock worth $299,000 after purchasing an additional 117 shares during the last quarter. Avantax Advisory Services Inc. bought a new stake in shares of Universal Display during the fourth quarter worth about $210,000. Brown Advisory Inc. increased its stake in shares of Universal Display by 7.0% in the fourth quarter. Brown Advisory Inc. now owns 1,736 shares of the semiconductor company’s stock valued at $332,000 after buying an additional 114 shares during the period. Finally, Norges Bank bought a new position in Universal Display in the 4th quarter valued at approximately $101,088,000. Institutional investors own 78.19% of the company’s stock.
Universal Display Price Performance
Shares of NASDAQ:OLED opened at $210.85 on Friday. Universal Display Co. has a 1 year low of $133.67 and a 1 year high of $237.00. The business’s 50-day moving average is $199.11 and its 200-day moving average is $185.16. The company has a market capitalization of $10.00 billion, a price-to-earnings ratio of 46.00, a P/E/G ratio of 2.17 and a beta of 1.41.
Universal Display Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.76%. The ex-dividend date is Monday, September 16th. Universal Display’s dividend payout ratio is presently 34.78%.
Analysts Set New Price Targets
OLED has been the topic of a number of research reports. TD Cowen boosted their target price on shares of Universal Display from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Oppenheimer increased their price objective on Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, July 3rd. Needham & Company LLC lifted their target price on Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Susquehanna increased their price target on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group raised their price objective on Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Universal Display has a consensus rating of “Moderate Buy” and a consensus price target of $225.88.
Get Our Latest Stock Analysis on OLED
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.
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