Norges Bank Makes New $95.92 Million Investment in Universal Display Co. (NASDAQ:OLED)

Norges Bank purchased a new position in Universal Display Co. (NASDAQ:OLED - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 656,117 shares of the semiconductor company's stock, valued at approximately $95,924,000. Norges Bank owned approximately 1.38% of Universal Display at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cerity Partners LLC lifted its holdings in shares of Universal Display by 385.2% during the third quarter. Cerity Partners LLC now owns 8,588 shares of the semiconductor company's stock valued at $1,803,000 after purchasing an additional 6,818 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Universal Display by 22.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,680 shares of the semiconductor company's stock valued at $2,452,000 after buying an additional 2,169 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Universal Display by 73.3% in the third quarter. Captrust Financial Advisors now owns 4,099 shares of the semiconductor company's stock worth $860,000 after acquiring an additional 1,734 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Universal Display in the third quarter worth $83,000. Finally, Aureus Asset Management LLC bought a new position in shares of Universal Display during the third quarter valued at $221,000. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Trading Down 3.5 %

OLED stock traded down $4.10 during trading on Friday, reaching $113.42. The stock had a trading volume of 1,339,933 shares, compared to its average volume of 523,618. The firm has a market cap of $5.38 billion, a PE ratio of 24.39, a PEG ratio of 1.61 and a beta of 1.40. The stock's 50 day moving average is $147.52 and its two-hundred day moving average is $165.17. Universal Display Co. has a 52 week low of $109.66 and a 52 week high of $237.00.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.14. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The firm had revenue of $162.29 million for the quarter, compared to analysts' expectations of $152.75 million. On average, research analysts anticipate that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.45 dividend. This is a boost from Universal Display's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Monday, March 17th. Universal Display's dividend payout ratio (DPR) is currently 38.71%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on OLED. StockNews.com raised shares of Universal Display from a "sell" rating to a "hold" rating in a research report on Friday, March 21st. Roth Mkm raised their price target on shares of Universal Display from $207.00 to $213.00 and gave the company a "buy" rating in a research report on Friday, February 21st. The Goldman Sachs Group lowered their price objective on Universal Display from $234.00 to $203.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Susquehanna reduced their target price on Universal Display from $165.00 to $160.00 and set a "neutral" rating for the company in a report on Friday, February 21st. Finally, Needham & Company LLC dropped their price objective on Universal Display from $215.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $190.43.

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.