Townsquare Capital LLC Purchases New Holdings in Universal Display Co. (NASDAQ:OLED)

Townsquare Capital LLC acquired a new position in shares of Universal Display Co. (NASDAQ:OLED - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 14,765 shares of the semiconductor company's stock, valued at approximately $2,159,000.

A number of other hedge funds have also recently bought and sold shares of OLED. Brown Brothers Harriman & Co. boosted its stake in Universal Display by 280.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company's stock valued at $31,000 after acquiring an additional 154 shares during the last quarter. 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 valued at $38,000 after purchasing an additional 209 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of Universal Display in the 4th quarter worth $40,000. Farther Finance Advisors LLC grew 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 purchasing an additional 274 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in Universal Display by 185.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 357 shares of the semiconductor company's stock valued at $52,000 after purchasing an additional 232 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on OLED shares. Susquehanna reduced their target price 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 decreased their price objective 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. StockNews.com lowered shares of Universal Display from a "hold" rating to a "sell" rating in a report on Friday, April 11th. Citigroup decreased their price target on shares of Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a report on Monday, February 10th. Finally, The Goldman Sachs Group dropped their price objective on Universal Display from $234.00 to $203.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $190.43.

Universal Display Price Performance

Universal Display stock opened at $113.67 on Thursday. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 1.61 and a beta of 1.42. The firm has a 50-day moving average of $141.10 and a 200-day moving average of $159.50. Universal Display Co. has a one year low of $103.70 and a one year high of $237.00.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The semiconductor company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.08 by $0.14. The firm had revenue of $162.29 million during 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%. As a group, sell-side analysts expect that Universal Display Co. will post 4.71 earnings per share for the current year.

Universal Display Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.58%. This is an increase from Universal Display's previous quarterly dividend of $0.40. The ex-dividend date was Monday, March 17th. Universal Display's payout ratio is presently 38.71%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.