Fifth Third Wealth Advisors LLC acquired a new position in Universal Display Co. (NASDAQ:OLED – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund acquired 1,486 shares of the semiconductor company’s stock, valued at approximately $312,000.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Universal Display by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 4,567,374 shares of the semiconductor company’s stock valued at $769,374,000 after buying an additional 50,233 shares in the last quarter. Norges Bank purchased a new position in Universal Display during the 4th quarter valued at about $101,088,000. First Trust Advisors LP grew its holdings in Universal Display by 20.7% during the 4th quarter. First Trust Advisors LP now owns 449,628 shares of the semiconductor company’s stock valued at $85,996,000 after buying an additional 76,967 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Universal Display by 66.6% during the 1st quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock valued at $73,099,000 after buying an additional 173,496 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in Universal Display by 33.5% during the 1st quarter. Van ECK Associates Corp now owns 360,714 shares of the semiconductor company’s stock valued at $60,762,000 after buying an additional 90,530 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.
Universal Display Trading Up 2.0 %
OLED stock traded up $3.79 during midday trading on Wednesday, hitting $193.00. The company had a trading volume of 183,501 shares, compared to its average volume of 332,467. Universal Display Co. has a 52 week low of $133.67 and a 52 week high of $237.00. The stock’s 50 day moving average price is $206.23 and its 200 day moving average price is $182.87. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of 41.96, a PEG ratio of 2.03 and a beta of 1.42.
Universal Display Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.83%. Universal Display’s dividend payout ratio is presently 34.78%.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on OLED. The Goldman Sachs Group lifted their target price on Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a report on Thursday, July 18th. TD Cowen boosted their price objective on Universal Display from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Oppenheimer boosted their price objective on Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, July 3rd. Needham & Company LLC boosted their price objective on Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Finally, Susquehanna boosted their price objective on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Universal Display presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.88.
Read Our Latest Research Report on Universal Display
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.
Featured Stories
- Five stocks we like better than Universal Display
- What is a Special Dividend?
- Target Hits the Mark: Q2 Earnings Exceed Expectations
- Using the MarketBeat Dividend Tax Calculator
- Is Tesla’s Rebound Just Starting? Why You Should Consider Buying
- Top Stocks Investing in 5G Technology
- Stanley Druckenmiller’s Latest Bet: MELI—Should You Follow Suit?
Want to see what other hedge funds are holding OLED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Display Co. (NASDAQ:OLED – Free Report).
Receive News & Ratings for Universal Display Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Display and related companies with MarketBeat.com's FREE daily email newsletter.