Universal Display Corporation (NASDAQ:OLED) Stake Boosted by Peregrine Investment Management Inc.

Peregrine Investment Management Inc. lifted its holdings in Universal Display Corporation (NASDAQ:OLED) by 3.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,240 shares of the semiconductor company’s stock after buying an additional 1,841 shares during the period. Universal Display makes up 5.6% of Peregrine Investment Management Inc.’s holdings, making the stock its 8th biggest position. Peregrine Investment Management Inc.’s holdings in Universal Display were worth $7,565,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Orion Capital Management LLC purchased a new position in Universal Display during the fourth quarter worth about $29,000. Brown Brothers Harriman & Co. raised its stake in Universal Display by 280.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 154 shares during the period. Golden State Wealth Management LLC raised its stake in Universal Display by 4,700.0% during the first quarter. Golden State Wealth Management LLC now owns 240 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 235 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in Universal Display during the fourth quarter worth about $40,000. Finally, Farther Finance Advisors LLC raised its stake in Universal Display by 761.1% during the fourth quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 274 shares during the period. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Price Performance

Shares of OLED opened at $155.49 on Friday. Universal Display Corporation has a 1-year low of $103.70 and a 1-year high of $237.00. The stock has a market cap of $7.39 billion, a PE ratio of 32.33, a P/E/G ratio of 1.68 and a beta of 1.51. The firm has a 50-day simple moving average of $152.01 and a two-hundred day simple moving average of $145.08.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.28. Universal Display had a net margin of 35.40% and a return on equity of 15.35%. The business had revenue of $166.28 million during the quarter, compared to analysts’ expectations of $154.76 million. During the same period last year, the business earned $1.19 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. As a group, sell-side analysts expect that Universal Display Corporation will post 4.71 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Monday, June 16th. Universal Display’s dividend payout ratio (DPR) is currently 37.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on OLED shares. Needham & Company LLC reaffirmed a “buy” rating and set a $170.00 target price on shares of Universal Display in a research note on Friday, May 2nd. Wall Street Zen raised shares of Universal Display from a “sell” rating to a “hold” rating in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Universal Display has a consensus rating of “Moderate Buy” and a consensus price target of $190.43.

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.