Gotham Asset Management LLC Boosts Stake in Universal Display Co. (NASDAQ:OLED)

Gotham Asset Management LLC boosted its position in shares of Universal Display Co. (NASDAQ:OLED) by 123.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 98,487 shares of the semiconductor company’s stock after acquiring an additional 54,433 shares during the period. Gotham Asset Management LLC’s holdings in Universal Display were worth $14,399,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc grew its holdings in shares of Universal Display by 5.2% in 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 in the last quarter. CIBC Private Wealth Group LLC lifted its position in Universal Display by 5.6% during the fourth 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 last quarter. Arizona State Retirement System grew its stake in shares of Universal Display by 0.7% in the 4th quarter. Arizona State Retirement System now owns 13,065 shares of the semiconductor company’s stock worth $1,910,000 after buying an additional 88 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Universal Display by 0.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,091 shares of the semiconductor company’s stock worth $1,475,000 after buying an additional 90 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of Universal Display by 0.8% during 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 buying an additional 100 shares in the last quarter. Institutional investors own 78.19% of the company’s stock.

Universal Display Price Performance

Universal Display stock opened at $143.75 on Friday. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of 30.91, a price-to-earnings-growth ratio of 1.61 and a beta of 1.46. The firm has a 50-day moving average of $134.59 and a two-hundred day moving average of $150.12. Universal Display Co. has a 1 year low of $103.70 and a 1 year high of $237.00.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.28. The firm had revenue of $166.28 million during the quarter, compared to analyst estimates of $154.76 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. Universal Display’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.19 earnings per share. Research analysts expect that Universal Display Co. will post 4.71 earnings per share for the current year.

Universal Display Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.25%. Universal Display’s dividend payout ratio is currently 37.42%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on OLED. The Goldman Sachs Group reduced 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. Citigroup cut 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. Susquehanna lowered their target price on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Needham & Company LLC reiterated a “buy” rating and set a $170.00 price target on shares of Universal Display in a report on Friday, May 2nd. Finally, Roth Mkm raised their price objective on shares of Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $190.43.

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.