KLP Kapitalforvaltning AS Acquires Shares of 9,200 Universal Display Co. (NASDAQ:OLED)

KLP Kapitalforvaltning AS acquired a new position in Universal Display Co. (NASDAQ:OLED - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,200 shares of the semiconductor company's stock, valued at approximately $1,345,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in Universal Display by 1.9% in the third quarter. Geode Capital Management LLC now owns 799,352 shares of the semiconductor company's stock valued at $167,825,000 after acquiring an additional 15,015 shares during the last quarter. Jennison Associates LLC increased its holdings in Universal Display by 58.2% in the fourth quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company's stock valued at $99,975,000 after purchasing an additional 251,557 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Universal Display by 10.7% during the 4th quarter. Bank of New York Mellon Corp now owns 437,592 shares of the semiconductor company's stock worth $63,976,000 after buying an additional 42,218 shares during the period. Southpoint Capital Advisors LP boosted its position in shares of Universal Display by 46.0% during the third quarter. Southpoint Capital Advisors LP now owns 365,000 shares of the semiconductor company's stock worth $76,614,000 after purchasing an additional 115,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Universal Display by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 341,019 shares of the semiconductor company's stock worth $49,857,000 after buying an additional 7,147 shares during the period. 78.19% of the stock is owned by institutional investors.

Universal Display Trading Down 15.4 %

OLED stock traded down $21.38 during trading on Thursday, reaching $117.52. 1,348,667 shares of the stock were exchanged, compared to its average volume of 517,247. The firm's 50 day moving average is $148.26 and its 200 day moving average is $166.34. The firm has a market cap of $5.58 billion, a P/E ratio of 25.27, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. Universal Display Co. has a twelve month low of $117.35 and a twelve month high of $237.00.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.08 by $0.14. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The company had revenue of $162.29 million for the quarter, compared to analyst estimates of $152.75 million. As a group, analysts predict that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.45 per share. The ex-dividend date was Monday, March 17th. This is an increase from Universal Display's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.53%. Universal Display's payout ratio is presently 38.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Oppenheimer dropped their price objective on Universal Display from $220.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday, January 2nd. The Goldman Sachs Group dropped their price target on shares of Universal Display from $234.00 to $203.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Susquehanna reduced their price objective on shares of Universal Display from $165.00 to $160.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Roth Mkm raised their target price on Universal Display from $207.00 to $213.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Citigroup reduced their price target on Universal Display from $200.00 to $162.00 and set a "neutral" rating on the stock in a research report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $190.43.

Universal Display 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.