Van ECK Associates Corp Increases Stake in Universal Display Co. (NASDAQ:OLED)

Van ECK Associates Corp grew its stake in Universal Display Co. (NASDAQ:OLED - Free Report) by 27.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 507,440 shares of the semiconductor company's stock after buying an additional 108,394 shares during the period. Van ECK Associates Corp owned approximately 1.07% of Universal Display worth $101,914,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of OLED. Nisa Investment Advisors LLC raised its holdings in Universal Display by 60.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 65 shares in the last quarter. Red Spruce Capital LLC grew its position in Universal Display by 0.7% during the 2nd quarter. Red Spruce Capital LLC now owns 11,146 shares of the semiconductor company's stock valued at $2,343,000 after purchasing an additional 76 shares during the last quarter. CIBC Asset Management Inc grew its position in Universal Display by 7.6% during the 2nd quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company's stock valued at $284,000 after purchasing an additional 96 shares during the last quarter. UMB Bank n.a. grew its position in Universal Display by 42.1% during the 3rd quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company's stock valued at $68,000 after purchasing an additional 96 shares during the last quarter. Finally, Bahl & Gaynor Inc. grew its position in Universal Display by 0.5% during the 1st quarter. Bahl & Gaynor Inc. now owns 18,645 shares of the semiconductor company's stock valued at $3,141,000 after purchasing an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company's stock.

Analyst Ratings Changes

OLED has been the topic of several recent analyst reports. Susquehanna increased their price objective on shares of Universal Display from $170.00 to $175.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. Roth Mkm increased their price objective on shares of Universal Display from $189.00 to $217.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Oppenheimer cut their price objective on shares of Universal Display from $240.00 to $220.00 and set an "outperform" rating on the stock in a research report on Thursday. Needham & Company LLC lowered their target price on shares of Universal Display from $242.00 to $215.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, TD Cowen lowered their target price on shares of Universal Display from $250.00 to $225.00 and set a "buy" rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $215.63.

Universal Display Price Performance

Shares of NASDAQ:OLED traded down $0.57 during trading on Monday, hitting $179.68. The company's stock had a trading volume of 383,350 shares, compared to its average volume of 369,773. The company has a 50-day moving average of $201.32 and a 200-day moving average of $194.52. Universal Display Co. has a 12 month low of $144.85 and a 12 month high of $237.00. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 36.08, a P/E/G ratio of 1.93 and a beta of 1.43.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.21. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The firm had revenue of $161.63 million for the quarter, compared to analysts' expectations of $165.28 million. During the same quarter in the prior year, the business earned $1.08 EPS. The business's quarterly revenue was up 14.6% on a year-over-year basis. As a group, research analysts anticipate that Universal Display Co. will post 4.81 earnings per share for the current year.

Universal Display Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Tuesday, December 17th. Universal Display's payout ratio is 32.13%.

Universal Display Company 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.