AI Squared Management Ltd Takes $2.27 Million Position in Universal Display Co. (NASDAQ:OLED)

AI Squared Management Ltd bought a new stake in shares of Universal Display Co. (NASDAQ:OLED - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 15,500 shares of the semiconductor company's stock, valued at approximately $2,266,000. Universal Display comprises 2.3% of AI Squared Management Ltd's holdings, making the stock its 14th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of OLED. Glenmede Trust Co. NA raised its position in Universal Display by 1.6% in the third quarter. Glenmede Trust Co. NA now owns 6,046 shares of the semiconductor company's stock worth $1,269,000 after acquiring an additional 97 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Universal Display by 8.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 52,713 shares of the semiconductor company's stock worth $11,064,000 after purchasing an additional 4,269 shares in the last quarter. Cerity Partners LLC raised its holdings in Universal Display by 385.2% in the 3rd quarter. Cerity Partners LLC now owns 8,588 shares of the semiconductor company's stock worth $1,803,000 after purchasing an additional 6,818 shares during the period. Pacer Advisors Inc. lifted its position in Universal Display by 37.2% during the fourth quarter. Pacer Advisors Inc. now owns 27,246 shares of the semiconductor company's stock valued at $3,983,000 after purchasing an additional 7,390 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in Universal Display by 200.0% during the third quarter. Stifel Financial Corp now owns 120,234 shares of the semiconductor company's stock valued at $25,237,000 after purchasing an additional 80,162 shares during the period. 78.19% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

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

Universal Display Stock Down 3.1 %

OLED traded down $4.57 during trading on Friday, reaching $145.17. The company had a trading volume of 476,057 shares, compared to its average volume of 509,491. The business has a 50 day simple moving average of $149.47 and a 200-day simple moving average of $168.06. The stock has a market cap of $6.89 billion, a P/E ratio of 31.22, a PEG ratio of 1.61 and a beta of 1.40. Universal Display Co. has a 52 week low of $140.17 and a 52 week high of $237.00.

Universal Display (NASDAQ:OLED - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $162.29 million for the quarter, compared to analyst estimates of $152.75 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. As a group, equities research analysts expect that Universal Display Co. will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Universal Display's previous quarterly dividend of $0.40. Universal Display's dividend payout ratio is 38.71%.

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.