CenterBook Partners LP Invests $445,000 in Universal Display Co. (NASDAQ:OLED)

CenterBook Partners LP purchased a new stake in shares of Universal Display Co. (NASDAQ:OLED - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,046 shares of the semiconductor company's stock, valued at approximately $445,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. HighTower Advisors LLC increased its holdings in Universal Display by 20.6% in the 3rd quarter. HighTower Advisors LLC now owns 6,132 shares of the semiconductor company's stock valued at $1,287,000 after acquiring an additional 1,048 shares during the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of Universal Display by 2.6% in the third quarter. Orion Portfolio Solutions LLC now owns 6,721 shares of the semiconductor company's stock worth $1,411,000 after purchasing an additional 171 shares during the last quarter. MML Investors Services LLC lifted its position in shares of Universal Display by 208.8% in the third quarter. MML Investors Services LLC now owns 4,008 shares of the semiconductor company's stock worth $841,000 after buying an additional 2,710 shares in the last quarter. Barclays PLC lifted its position in shares of Universal Display by 753.8% in the third quarter. Barclays PLC now owns 212,518 shares of the semiconductor company's stock worth $44,608,000 after buying an additional 187,627 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in Universal Display by 12.0% during the third quarter. M&T Bank Corp now owns 2,086 shares of the semiconductor company's stock valued at $438,000 after buying an additional 223 shares during the last quarter. 78.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Susquehanna decreased their price objective on Universal Display from $165.00 to $160.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Needham & Company LLC dropped their price objective on shares of Universal Display from $215.00 to $170.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Citigroup decreased their target price on shares of Universal Display from $200.00 to $162.00 and set a "neutral" rating on the stock in a research report on Monday, February 10th. StockNews.com cut Universal Display from a "hold" rating to a "sell" rating in a research note on Friday, April 11th. Finally, Roth Mkm raised their price objective on Universal Display from $207.00 to $213.00 and gave the company a "buy" rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $190.43.

Universal Display Trading Up 0.3 %

Shares of Universal Display stock traded up $0.31 on Friday, hitting $113.98. 458,108 shares of the company traded hands, compared to its average volume of 552,975. Universal Display Co. has a 52 week low of $103.70 and a 52 week high of $237.00. The company has a market cap of $5.41 billion, a PE ratio of 24.51, a PEG ratio of 1.61 and a beta of 1.42. The stock's 50 day moving average price is $140.53 and its 200-day moving average price is $158.84.

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

Universal Display Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.45 dividend. 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 dividend on an annualized basis and a dividend yield of 1.58%. Universal Display's dividend payout ratio (DPR) is currently 38.71%.

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.