Van ECK Associates Corp Boosts Stock Position in Universal Display Co. (NASDAQ:OLED)

Van ECK Associates Corp boosted its position in shares of Universal Display Co. (NASDAQ:OLED) by 18.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 270,184 shares of the semiconductor company’s stock after purchasing an additional 41,795 shares during the period. Van ECK Associates Corp owned approximately 0.57% of Universal Display worth $51,676,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Universal Display in the fourth quarter valued at approximately $29,797,000. Albar Capital Ltd lifted its stake in Universal Display by 2,888.4% in the 3rd quarter. Albar Capital Ltd now owns 157,728 shares of the semiconductor company’s stock valued at $24,762,000 after buying an additional 152,450 shares in the last quarter. FMR LLC raised its stake in Universal Display by 10.6% in the 3rd quarter. FMR LLC now owns 1,398,961 shares of the semiconductor company’s stock valued at $219,623,000 after purchasing an additional 134,000 shares during the last quarter. Crestwood Advisors Group LLC purchased a new position in shares of Universal Display during the third quarter valued at approximately $20,936,000. Finally, Great Lakes Advisors LLC purchased a new position in shares of Universal Display during the 3rd quarter worth $14,016,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Price Performance

Shares of NASDAQ OLED traded down $1.91 during mid-day trading on Tuesday, reaching $160.11. 35,944 shares of the company traded hands, compared to its average volume of 275,930. The firm has a market cap of $7.60 billion, a PE ratio of 38.21, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45. Universal Display Co. has a fifty-two week low of $125.98 and a fifty-two week high of $194.84. The stock has a fifty day simple moving average of $165.10 and a 200-day simple moving average of $169.17.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, February 22nd. The semiconductor company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.11. The company had revenue of $158.32 million during the quarter, compared to the consensus estimate of $161.08 million. Universal Display had a net margin of 35.22% and a return on equity of 14.85%. Universal Display’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.36 EPS. As a group, analysts predict that Universal Display Co. will post 4.72 EPS for the current fiscal year.

Universal Display Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Thursday, March 14th. This is a boost from Universal Display’s previous quarterly dividend of $0.35. Universal Display’s dividend payout ratio (DPR) is 37.74%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on OLED shares. Needham & Company LLC reissued a “buy” rating and set a $198.00 price objective on shares of Universal Display in a research note on Tuesday, March 26th. TD Cowen upped their price target on Universal Display from $165.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Citigroup reissued a “neutral” rating and issued a $180.00 price target (up previously from $161.00) on shares of Universal Display in a report on Friday, January 19th. Finally, Oppenheimer reissued an “outperform” rating and set a $200.00 target price (down from $210.00) on shares of Universal Display in a research note on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.86.

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.