Zurcher Kantonalbank Zurich Cantonalbank Buys 827 Shares of Universal Display Co. (NASDAQ:OLED)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Universal Display Co. (NASDAQ:OLED) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,020 shares of the semiconductor company’s stock after acquiring an additional 827 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Universal Display were worth $2,490,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Universal Display in the 4th quarter valued at approximately $29,797,000. Albar Capital Ltd lifted its position in shares of Universal Display by 2,888.4% in the third quarter. Albar Capital Ltd now owns 157,728 shares of the semiconductor company’s stock worth $24,762,000 after purchasing an additional 152,450 shares in the last quarter. FMR LLC boosted its holdings in Universal Display by 10.6% during the third quarter. FMR LLC now owns 1,398,961 shares of the semiconductor company’s stock worth $219,623,000 after purchasing an additional 134,000 shares during the last quarter. Crestwood Advisors Group LLC bought a new position in Universal Display in the third quarter valued at $20,936,000. Finally, Great Lakes Advisors LLC acquired a new stake in Universal Display in the 3rd quarter valued at $14,016,000. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Oppenheimer restated an “outperform” rating and issued a $200.00 price objective (down previously from $210.00) on shares of Universal Display in a report on Friday, February 23rd. Needham & Company LLC reiterated a “buy” rating and set a $198.00 price objective on shares of Universal Display in a research note on Tuesday, March 26th. Citigroup reissued a “neutral” rating and issued a $180.00 target price (up from $161.00) on shares of Universal Display in a research note on Friday, January 19th. Finally, TD Cowen boosted their target price on shares of Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Universal Display has a consensus rating of “Moderate Buy” and a consensus target price of $199.86.

Universal Display Trading Up 1.1 %

OLED stock opened at $153.90 on Wednesday. The business’s 50 day simple moving average is $167.08 and its 200 day simple moving average is $169.27. Universal Display Co. has a 1-year low of $125.98 and a 1-year high of $194.84. The firm has a market capitalization of $7.29 billion, a PE ratio of 36.30, a PEG ratio of 1.66 and a beta of 1.45.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.11. The company had revenue of $158.32 million for the quarter, compared to analyst estimates of $161.08 million. Universal Display had a net margin of 35.22% and a return on equity of 14.85%. The company’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.36 earnings per share. As a group, sell-side analysts predict that Universal Display Co. will post 4.72 EPS for the current fiscal year.

Universal Display Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Thursday, March 14th. This is a boost from Universal Display’s previous quarterly dividend of $0.35. Universal Display’s payout ratio is currently 37.74%.

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.