Dark Forest Capital Management LP Acquires Shares of 4,425 Universal Display Co. (NASDAQ:OLED)

Dark Forest Capital Management LP purchased a new stake in Universal Display Co. (NASDAQ:OLED - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,425 shares of the semiconductor company's stock, valued at approximately $647,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. lifted its holdings in shares of Universal Display by 280.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company's stock worth $31,000 after purchasing an additional 154 shares during the period. Blue Trust Inc. lifted its stake in shares of Universal Display by 401.9% in the 4th quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 209 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Universal Display in the fourth quarter valued at about $40,000. Farther Finance Advisors LLC increased its stake in shares of Universal Display by 761.1% during the fourth quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company's stock worth $45,000 after acquiring an additional 274 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in Universal Display by 185.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 357 shares of the semiconductor company's stock worth $52,000 after purchasing an additional 232 shares in the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on OLED. StockNews.com cut Universal Display from a "hold" rating to a "sell" rating in a research report on Friday, April 11th. Susquehanna dropped 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. Oppenheimer reduced their target price on Universal Display from $220.00 to $200.00 and set an "outperform" rating for the company in a report on Thursday, January 2nd. Needham & Company LLC lowered their price target on shares of Universal Display from $215.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Finally, Citigroup reduced their price objective on shares of Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $190.43.

Universal Display Trading Down 1.9 %

Shares of Universal Display stock traded down $2.36 during mid-day trading on Tuesday, hitting $124.18. 534,866 shares of the stock were exchanged, compared to its average volume of 561,632. Universal Display Co. has a twelve month low of $103.70 and a twelve month high of $237.00. The company has a 50-day simple moving average of $137.24 and a 200 day simple moving average of $153.84. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

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 (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.14. The business had revenue of $162.29 million for the quarter, compared to analysts' expectations of $152.75 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. Equities research analysts forecast that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.45 per share. The ex-dividend date was Monday, March 17th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.45%. This is a positive change from Universal Display's previous quarterly dividend of $0.40. 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.