Korea Investment CORP Boosts Stake in Universal Display Corporation $OLED

Korea Investment CORP lifted its position in Universal Display Corporation (NASDAQ:OLED) by 75.6% in the 3rd quarter, Holdings Channel reports. The fund owned 21,580 shares of the semiconductor company’s stock after acquiring an additional 9,293 shares during the quarter. Korea Investment CORP’s holdings in Universal Display were worth $3,100,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in OLED. Norges Bank bought a new stake in shares of Universal Display during the second quarter valued at approximately $124,480,000. Vanguard Group Inc. raised its holdings in Universal Display by 10.0% in the third quarter. Vanguard Group Inc. now owns 5,069,107 shares of the semiconductor company’s stock worth $728,076,000 after purchasing an additional 460,792 shares in the last quarter. Primecap Management Co. CA lifted its position in Universal Display by 20.7% during the second quarter. Primecap Management Co. CA now owns 2,215,308 shares of the semiconductor company’s stock valued at $342,176,000 after buying an additional 379,586 shares during the period. Deprince Race & Zollo Inc. purchased a new position in Universal Display during the third quarter valued at $32,962,000. Finally, Rafferty Asset Management LLC boosted its holdings in shares of Universal Display by 63.2% during the 2nd quarter. Rafferty Asset Management LLC now owns 574,161 shares of the semiconductor company’s stock valued at $88,685,000 after buying an additional 222,327 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

Universal Display Trading Down 3.8%

NASDAQ OLED opened at $94.71 on Friday. Universal Display Corporation has a 12 month low of $93.03 and a 12 month high of $163.21. The stock’s fifty day moving average price is $115.29 and its 200-day moving average price is $126.66. The stock has a market cap of $4.46 billion, a P/E ratio of 18.68, a P/E/G ratio of 7.57 and a beta of 1.65.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, February 19th. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.11. The firm had revenue of $172.93 million during the quarter, compared to analyst estimates of $173.35 million. Universal Display had a return on equity of 14.07% and a net margin of 37.21%.Universal Display’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.22 EPS. As a group, analysts forecast that Universal Display Corporation will post 4.71 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.1%. This is a boost from Universal Display’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, March 17th. Universal Display’s dividend payout ratio is presently 35.50%.

Analysts Set New Price Targets

OLED has been the topic of a number of recent research reports. Zacks Research downgraded shares of Universal Display from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Needham & Company LLC dropped their price objective on shares of Universal Display from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Citigroup cut their price objective on shares of Universal Display from $150.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, January 27th. Wall Street Zen raised shares of Universal Display from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a report on Wednesday, December 24th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $151.67.

Universal Display Company Profile

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.