Canada Pension Plan Investment Board Acquires Shares of 36,400 Universal Display Co. (NASDAQ:OLED)

Canada Pension Plan Investment Board acquired a new stake in Universal Display Co. (NASDAQ:OLED) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 36,400 shares of the semiconductor company’s stock, valued at approximately $5,322,000.

A number of other large investors have also added to or reduced their stakes in the business. Pacer Advisors Inc. increased its holdings in shares of Universal Display by 37.2% in the fourth quarter. Pacer Advisors Inc. now owns 27,246 shares of the semiconductor company’s stock valued at $3,983,000 after purchasing an additional 7,390 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Universal Display by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 341,019 shares of the semiconductor company’s stock worth $49,857,000 after acquiring an additional 7,147 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Universal Display by 95.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 189,603 shares of the semiconductor company’s stock valued at $27,720,000 after purchasing an additional 92,410 shares during the last quarter. Inspire Investing LLC bought a new position in shares of Universal Display during the fourth quarter worth approximately $462,000. Finally, Sterling Capital Management LLC lifted its holdings in Universal Display by 35.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,767 shares of the semiconductor company’s stock worth $258,000 after purchasing an additional 458 shares during the last quarter. Institutional investors own 78.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on OLED. StockNews.com cut Universal Display from a “hold” rating to a “sell” rating in a research report on Friday, April 11th. Susquehanna cut their price objective 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 lowered their target price on shares of Universal Display from $215.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, February 21st. The Goldman Sachs Group cut their price target on Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Finally, Citigroup lowered their price objective on Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $190.43.

Universal Display Price Performance

Shares of NASDAQ:OLED opened at $113.78 on Tuesday. The company’s 50 day simple moving average is $139.39 and its 200 day simple moving average is $156.84. Universal Display Co. has a 1 year low of $103.70 and a 1 year high of $237.00. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 24.47, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, February 20th. The semiconductor company reported $1.22 EPS for the quarter, topping 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 company had revenue of $162.29 million during the quarter, compared to analysts’ expectations of $152.75 million. As a group, analysts anticipate that Universal Display Co. will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.58%. This is a boost from Universal Display’s previous quarterly dividend of $0.40. Universal Display’s dividend payout ratio is 38.71%.

Universal Display Company Profile

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.