Ieq Capital LLC Purchases 2,839 Shares of Universal Display Co. (NASDAQ:OLED)

Ieq Capital LLC lifted its holdings in Universal Display Co. (NASDAQ:OLED) by 64.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,237 shares of the semiconductor company’s stock after purchasing an additional 2,839 shares during the quarter. Ieq Capital LLC’s holdings in Universal Display were worth $1,058,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of OLED. International Assets Investment Management LLC purchased a new position in shares of Universal Display in the 3rd quarter worth $6,785,000. State of Alaska Department of Revenue grew its position in Universal Display by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 5,072 shares of the semiconductor company’s stock worth $1,064,000 after acquiring an additional 345 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Universal Display by 60.2% during the third quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 65 shares during the last quarter. Pallas Capital Advisors LLC purchased a new stake in Universal Display during the third quarter valued at approximately $333,000. Finally, US Bancorp DE lifted its stake in shares of Universal Display by 43.9% in the 3rd quarter. US Bancorp DE now owns 5,037 shares of the semiconductor company’s stock valued at $1,057,000 after purchasing an additional 1,536 shares during the last quarter. Institutional investors own 78.19% of the company’s stock.

Universal Display Stock Performance

Shares of NASDAQ OLED opened at $157.90 on Tuesday. Universal Display Co. has a 52-week low of $140.17 and a 52-week high of $237.00. The firm has a market capitalization of $7.50 billion, a price-to-earnings ratio of 33.96, a PEG ratio of 1.61 and a beta of 1.39. The stock has a 50 day moving average price of $148.39 and a 200 day moving average price of $173.84.

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 business had revenue of $162.29 million during the quarter, compared to analysts’ expectations 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 firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.45 per share. This is an increase from Universal Display’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.80 dividend on an annualized basis and a yield of 1.14%. Universal Display’s dividend payout ratio (DPR) is 38.71%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. The Goldman Sachs Group reduced their target price on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Citigroup reduced their price objective on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. TD Cowen dropped their target price on Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Oppenheimer reduced their price target on Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, January 2nd. Finally, Needham & Company LLC dropped their price objective on Universal Display from $215.00 to $170.00 and set a “buy” rating for the company in a report on Friday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Universal Display presently has a consensus rating of “Moderate Buy” and a consensus target price 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.