Headlands Technologies LLC Invests $720,000 in Universal Display Co. (NASDAQ:OLED)

Headlands Technologies LLC acquired a new stake in Universal Display Co. (NASDAQ:OLED) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 4,923 shares of the semiconductor company’s stock, valued at approximately $720,000.

Other hedge funds have also added to or reduced their stakes in the company. CIBC Asset Management Inc increased 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 worth $215,000 after acquiring an additional 73 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Universal Display by 5.6% in the 4th 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 period. Arizona State Retirement System increased its stake in Universal Display by 0.7% during the 4th quarter. Arizona State Retirement System now owns 13,065 shares of the semiconductor company’s stock worth $1,910,000 after purchasing an additional 88 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Universal Display by 0.9% during 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 period. Finally, Louisiana State Employees Retirement System lifted its stake in Universal Display by 0.8% in the fourth 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 and hedge funds own 78.19% of the company’s stock.

Analyst Ratings Changes

OLED has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a report on Friday, March 21st. Oppenheimer dropped their price target on Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, January 2nd. The Goldman Sachs Group reduced their price objective 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 lifted their target price on Universal Display from $207.00 to $213.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Citigroup reduced their price target on Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Universal Display has a consensus rating of “Moderate Buy” and an average price target of $190.43.

Universal Display Stock Performance

Shares of NASDAQ OLED opened at $138.90 on Thursday. The stock has a 50 day moving average price of $148.87 and a 200 day moving average price of $166.68. The stock has a market capitalization of $6.59 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. Universal Display Co. has a 52 week low of $132.01 and a 52 week high of $237.00.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 EPS for the quarter, beating 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%. As a group, research analysts forecast that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.30%. Universal Display’s payout ratio is currently 38.71%.

Universal Display 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.