Geode Capital Management LLC Purchases 222,108 Shares of Universal Display Corporation $OLED

Geode Capital Management LLC grew its holdings in Universal Display Corporation (NASDAQ:OLED) by 25.0% in the fourth quarter, HoldingsChannel reports. The fund owned 1,109,077 shares of the semiconductor company’s stock after buying an additional 222,108 shares during the period. Geode Capital Management LLC’s holdings in Universal Display were worth $129,537,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. grew its stake in Universal Display by 3.1% during the third quarter. JPMorgan Chase & Co. now owns 472,363 shares of the semiconductor company’s stock worth $67,846,000 after buying an additional 14,356 shares in the last quarter. Peregrine Investment Management Inc. grew its stake in Universal Display by 24.7% during the third quarter. Peregrine Investment Management Inc. now owns 50,560 shares of the semiconductor company’s stock worth $7,262,000 after buying an additional 10,000 shares in the last quarter. Aquatic Capital Management LLC grew its stake in Universal Display by 891.6% during the third quarter. Aquatic Capital Management LLC now owns 28,588 shares of the semiconductor company’s stock worth $4,106,000 after buying an additional 25,705 shares in the last quarter. AI Squared Management Ltd acquired a new stake in Universal Display during the third quarter worth about $5,515,000. Finally, Handelsbanken Fonder AB grew its stake in Universal Display by 348.4% during the third quarter. Handelsbanken Fonder AB now owns 54,704 shares of the semiconductor company’s stock worth $7,857,000 after buying an additional 42,504 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OLED has been the topic of a number of analyst reports. Citigroup reduced their price objective on shares of Universal Display from $105.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Universal Display in a research note on Monday, March 23rd. Oppenheimer reduced their price objective on Universal Display from $160.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Wall Street Zen raised Universal Display from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Finally, The Goldman Sachs Group set a $135.00 price objective on Universal Display in a research note on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Universal Display has an average rating of “Hold” and an average target price of $130.60.

Universal Display Trading Down 0.7%

Universal Display stock opened at $90.20 on Friday. The company has a market capitalization of $4.22 billion, a PE ratio of 20.13 and a beta of 1.54. Universal Display Corporation has a 12 month low of $83.64 and a 12 month high of $163.21. The stock has a 50-day moving average price of $93.53 and a two-hundred day moving average price of $107.08.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, April 30th. The semiconductor company reported $0.76 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.37). Universal Display had a net margin of 34.08% and a return on equity of 12.34%. The firm had revenue of $142.21 million during the quarter, compared to the consensus estimate of $161.23 million. During the same quarter in the prior year, the business posted $1.35 earnings per share. Universal Display’s revenue for the quarter was down 14.5% compared to the same quarter last year. As a group, analysts predict that Universal Display Corporation will post 4.23 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, June 16th. Universal Display’s dividend payout ratio (DPR) is 44.64%.

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.