Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,915 Shares of Universal Display Co. (NASDAQ:OLED)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Universal Display Co. (NASDAQ:OLED - Free Report) by 16.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 13,595 shares of the semiconductor company's stock after purchasing an additional 1,915 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Universal Display were worth $1,988,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OLED. AlphaQuest LLC raised its holdings in Universal Display by 126,825.0% in the 4th quarter. AlphaQuest LLC now owns 5,077 shares of the semiconductor company's stock worth $742,000 after acquiring an additional 5,073 shares during the period. Amundi boosted its position in Universal Display by 3.7% in the fourth quarter. Amundi now owns 180,050 shares of the semiconductor company's stock valued at $26,440,000 after buying an additional 6,475 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Universal Display by 2.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,957 shares of the semiconductor company's stock valued at $1,163,000 after buying an additional 227 shares in the last quarter. AMG National Trust Bank raised its stake in shares of Universal Display by 7.3% in the fourth quarter. AMG National Trust Bank now owns 13,929 shares of the semiconductor company's stock worth $2,055,000 after acquiring an additional 942 shares during the last quarter. Finally, Candriam S.C.A. raised its stake in shares of Universal Display by 0.8% in the fourth quarter. Candriam S.C.A. now owns 199,484 shares of the semiconductor company's stock worth $29,165,000 after acquiring an additional 1,497 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company's stock.

Remove Ads

Analysts Set New Price Targets

OLED has been the subject of a number of recent research reports. Oppenheimer dropped their price target on shares of Universal Display from $220.00 to $200.00 and set an "outperform" rating for the company in a research note on Thursday, January 2nd. StockNews.com cut shares of Universal Display from a "hold" rating to a "sell" rating in a report on Friday, March 7th. Citigroup dropped their price objective on shares of Universal Display from $200.00 to $162.00 and set a "neutral" rating on the stock in a research report on Monday, February 10th. 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 report on Friday, February 21st. Finally, The Goldman Sachs Group lowered their price target on shares of Universal Display from $234.00 to $203.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $190.43.

Universal Display Stock Performance

OLED traded down $2.98 during mid-day trading on Thursday, reaching $151.38. 456,807 shares of the stock were exchanged, compared to its average volume of 482,057. The stock has a market capitalization of $7.19 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. The company has a 50 day moving average price of $149.09 and a two-hundred day moving average price of $169.93. Universal Display Co. has a 1 year low of $140.17 and a 1 year high of $237.00.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (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 business had revenue of $162.29 million for the quarter, compared to analysts' expectations of $152.75 million. Sell-side analysts expect that Universal Display Co. will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.45 per share. This is a positive change from Universal Display's previous quarterly dividend of $0.40. The ex-dividend date is Monday, March 17th. This represents a $1.80 annualized dividend and a dividend yield of 1.19%. Universal Display's payout ratio is presently 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.