AI Squared Management Ltd Acquires Shares of 15,500 Universal Display Co. (NASDAQ:OLED)

AI Squared Management Ltd bought a new position in Universal Display Co. (NASDAQ:OLED) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 15,500 shares of the semiconductor company’s stock, valued at approximately $2,266,000. Universal Display accounts for 2.3% of AI Squared Management Ltd’s portfolio, making the stock its 14th largest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in Universal Display in the third quarter valued at about $30,000. True Wealth Design LLC acquired a new stake in shares of Universal Display in the 3rd quarter valued at approximately $36,000. Blue Trust Inc. boosted its stake in shares of Universal Display by 401.9% in the fourth quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 209 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Universal Display by 761.1% in the fourth quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 274 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Universal Display by 185.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 357 shares of the semiconductor company’s stock worth $52,000 after acquiring an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on OLED shares. Citigroup lowered their price target on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. The Goldman Sachs Group dropped their price target on Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Roth Mkm boosted their price objective on shares of Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. StockNews.com upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Susquehanna lowered their price objective on Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Universal Display currently has a consensus rating of “Moderate Buy” and an average target price of $190.43.

Universal Display Trading Up 3.4 %

Shares of Universal Display stock opened at $153.54 on Tuesday. Universal Display Co. has a twelve month low of $140.17 and a twelve month high of $237.00. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of 33.02, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. The company has a fifty day moving average price of $149.27 and a 200 day moving average price of $169.04.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.14. The company had revenue of $162.29 million during the quarter, compared to the consensus estimate of $152.75 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. Analysts forecast that Universal Display Co. will post 4.71 earnings per share for the current year.

Universal Display Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.45 per share. This is a boost from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Monday, March 17th. 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.