Magnetar Financial LLC Purchases New Stake in Universal Display Co. (NASDAQ:OLED)

Magnetar Financial LLC bought a new stake in Universal Display Co. (NASDAQ:OLED - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,752 shares of the semiconductor company's stock, valued at approximately $695,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Asset Management Inc boosted its holdings in shares of Universal Display by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,473 shares of the semiconductor company's stock valued at $215,000 after acquiring an additional 73 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Universal Display by 0.7% during the fourth quarter. Arizona State Retirement System now owns 13,065 shares of the semiconductor company's stock valued at $1,910,000 after purchasing an additional 88 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Universal Display by 0.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,091 shares of the semiconductor company's stock worth $1,475,000 after purchasing an additional 90 shares during the last quarter. Glenmede Trust Co. NA increased its stake in shares of Universal Display by 1.6% in the third quarter. Glenmede Trust Co. NA now owns 6,046 shares of the semiconductor company's stock valued at $1,269,000 after buying an additional 97 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in Universal Display by 0.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the semiconductor company's stock valued at $1,798,000 after buying an additional 100 shares during the last quarter. Institutional investors own 78.19% of the company's stock.

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Universal Display Stock Performance

Shares of OLED stock traded down $0.37 during trading hours on Wednesday, hitting $151.93. 508,661 shares of the company were exchanged, compared to its average volume of 490,378. The company has a 50 day simple moving average of $149.39 and a two-hundred day simple moving average of $168.82. The firm has a market cap of $7.21 billion, a P/E ratio of 32.67, a P/E/G ratio of 1.61 and a beta of 1.40. Universal Display Co. has a fifty-two week low of $140.17 and a fifty-two week high of $237.00.

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

Universal Display Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.18%. This is a positive change from Universal Display's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Monday, March 17th. Universal Display's payout ratio is presently 38.71%.

Analysts Set New Price Targets

A number of research firms have commented on OLED. Oppenheimer reduced their price target on Universal Display from $220.00 to $200.00 and set an "outperform" rating on the stock in a research report on Thursday, January 2nd. Citigroup reduced their target price on Universal Display from $200.00 to $162.00 and set a "neutral" rating on the stock in a report on Monday, February 10th. Susquehanna lowered their price target on shares of Universal Display from $165.00 to $160.00 and set a "neutral" rating for the company in a report on Friday, February 21st. The Goldman Sachs Group reduced 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 note on Thursday, February 6th. Finally, StockNews.com raised shares of Universal Display from a "sell" rating to a "hold" rating in a research note on Friday, March 21st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.