Universal Display Co. (NASDAQ:OLED) Stake Lifted by Pinebridge Investments L.P.

Pinebridge Investments L.P. grew its holdings in shares of Universal Display Co. (NASDAQ:OLED - Free Report) by 42.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,835 shares of the semiconductor company's stock after buying an additional 3,542 shares during the period. Pinebridge Investments L.P.'s holdings in Universal Display were worth $1,730,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in OLED. CIBC Asset Management Inc increased its holdings in shares of Universal Display by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,473 shares of the semiconductor company's stock valued at $215,000 after purchasing an additional 73 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of Universal Display by 5.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,615 shares of the semiconductor company's stock valued at $245,000 after purchasing an additional 85 shares during the period. Arizona State Retirement System lifted its holdings in shares of Universal Display by 0.7% in the fourth quarter. Arizona State Retirement System now owns 13,065 shares of the semiconductor company's stock valued at $1,910,000 after buying an additional 88 shares during the period. Commonwealth Equity Services LLC grew its holdings in 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 acquiring an additional 90 shares during the period. Finally, Louisiana State Employees Retirement System lifted 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 acquiring an additional 100 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Stock Up 0.8 %

OLED stock opened at $126.41 on Monday. The company has a 50 day moving average of $137.64 and a two-hundred day moving average of $154.41. Universal Display Co. has a 12-month low of $103.70 and a 12-month high of $237.00. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 1.61 and a beta of 1.42.

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

Universal Display Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued 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 1.42%. This is an increase from Universal Display's previous quarterly dividend of $0.40. Universal Display's dividend payout ratio (DPR) is currently 38.71%.

Analysts Set New Price Targets

Several analysts recently commented on OLED shares. Susquehanna cut their target price on shares of Universal Display from $165.00 to $160.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Citigroup decreased 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. Needham & Company LLC dropped their price target on Universal Display from $215.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. The Goldman Sachs Group decreased their target price on shares of Universal Display from $234.00 to $203.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Finally, Oppenheimer cut their price target on shares of Universal Display from $220.00 to $200.00 and set an "outperform" rating on the stock in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Universal Display presently has a consensus 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.

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.