Norges Bank Makes New Investment in Universal Display Corporation $OLED

Norges Bank bought a new position in Universal Display Corporation (NASDAQ:OLED) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 794,277 shares of the semiconductor company’s stock, valued at approximately $92,756,000. Norges Bank owned approximately 1.67% of Universal Display at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC lifted its stake in Universal Display by 309.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 209 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 158 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in shares of Universal Display during the 3rd quarter valued at $33,000. Jones Financial Companies Lllp raised its position in shares of Universal Display by 104.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 388 shares of the semiconductor company’s stock valued at $58,000 after buying an additional 198 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Universal Display during the 2nd quarter valued at $62,000. Finally, RHL Group LLC purchased a new stake in shares of Universal Display during the 4th quarter valued at $60,000. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on OLED shares. The Goldman Sachs Group set a $135.00 price objective on shares of Universal Display in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Roth Mkm set a $168.00 price objective on shares of Universal Display in a research report on Friday, May 1st. Citigroup lowered their price objective on shares of Universal Display from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Finally, Needham & Company LLC lowered their price objective on shares of Universal Display from $145.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $130.60.

Universal Display Stock Down 4.5%

Shares of NASDAQ:OLED opened at $86.11 on Friday. The stock has a market cap of $4.03 billion, a PE ratio of 19.22 and a beta of 1.54. The company’s fifty day moving average is $93.31 and its 200 day moving average is $106.93. Universal Display Corporation has a 52 week low of $83.64 and a 52 week high of $163.21.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, April 30th. The semiconductor company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.37). The business had revenue of $142.21 million during the quarter, compared to analysts’ expectations of $161.23 million. Universal Display had a return on equity of 12.34% and a net margin of 34.08%.Universal Display’s revenue for the quarter was down 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.35 EPS. Sell-side analysts anticipate that Universal Display Corporation will post 4.23 EPS for the current year.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Tuesday, June 16th. Universal Display’s dividend payout ratio (DPR) is presently 44.64%.

About Universal Display

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.