Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Universal Display Co. (NASDAQ:OLED – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,099 shares of the semiconductor company’s stock, valued at approximately $231,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Universal Display by 1.1% in the first quarter. Vanguard Group Inc. now owns 4,567,374 shares of the semiconductor company’s stock worth $769,374,000 after buying an additional 50,233 shares during the period. Primecap Management Co. CA lifted its position in Universal Display by 0.4% during the 2nd quarter. Primecap Management Co. CA now owns 1,895,017 shares of the semiconductor company’s stock worth $398,427,000 after acquiring an additional 7,435 shares in the last quarter. Norges Bank purchased a new position in Universal Display in the 4th quarter worth approximately $101,088,000. Dimensional Fund Advisors LP grew its position in Universal Display by 27.3% in the second quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company’s stock valued at $98,725,000 after acquiring an additional 100,809 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Universal Display by 20.7% during the fourth quarter. First Trust Advisors LP now owns 449,628 shares of the semiconductor company’s stock valued at $85,996,000 after purchasing an additional 76,967 shares during the period. 78.19% of the stock is owned by institutional investors and hedge funds.
Universal Display Stock Up 0.3 %
Shares of Universal Display stock opened at $211.44 on Friday. The business has a 50-day moving average price of $198.60 and a 200 day moving average price of $185.72. Universal Display Co. has a fifty-two week low of $133.67 and a fifty-two week high of $237.00. The firm has a market cap of $10.03 billion, a P/E ratio of 45.97, a P/E/G ratio of 2.17 and a beta of 1.41.
Universal Display Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.76%. Universal Display’s dividend payout ratio (DPR) is 34.78%.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on OLED shares. Susquehanna upped their target price on shares of Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Roth Mkm raised their target price on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Oppenheimer boosted their price target on Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 3rd. TD Cowen raised their price objective on Universal Display from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC lifted their price objective on Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Universal Display currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.88.
Read Our Latest Research Report on Universal Display
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.
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