Blueshift Asset Management LLC Makes New Investment in Universal Display Co. (NASDAQ:OLED)

Blueshift Asset Management LLC purchased a new position in shares of Universal Display Co. (NASDAQ:OLED) during the fourth quarter, HoldingsChannel reports. The firm purchased 5,036 shares of the semiconductor company’s stock, valued at approximately $736,000.

A number of other institutional investors have also recently bought and sold shares of OLED. Assetmark Inc. bought a new stake in shares of Universal Display during the third quarter worth approximately $29,000. Brooklyn Investment Group bought a new stake in shares of Universal Display during the third quarter worth approximately $30,000. True Wealth Design LLC bought a new stake in shares of Universal Display during the third quarter worth approximately $36,000. Blue Trust Inc. boosted its holdings in shares of Universal Display by 401.9% during the fourth quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 209 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of 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 acquiring an additional 274 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OLED. 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 report on Thursday, February 6th. StockNews.com cut Universal Display from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. Needham & Company LLC cut their price target on Universal Display from $215.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Roth Mkm boosted their price target on Universal Display from $207.00 to $213.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Citigroup cut their price target on Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $190.43.

Universal Display Price Performance

Shares of OLED opened at $154.36 on Thursday. Universal Display Co. has a one year low of $140.17 and a one year high of $237.00. The company has a market cap of $7.33 billion, a P/E ratio of 33.20, a P/E/G ratio of 1.61 and a beta of 1.40. The firm has a 50 day simple moving average of $149.09 and a two-hundred day simple moving average of $169.93.

Universal Display (NASDAQ:OLED) last announced 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. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The business had revenue of $162.29 million during the quarter, compared to the consensus estimate of $152.75 million. On average, analysts expect that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.17%. Universal Display’s dividend payout ratio is 38.71%.

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.