Inspire Advisors LLC Takes Position in Universal Display Co. (NASDAQ:OLED)

Inspire Advisors LLC bought a new position in Universal Display Co. (NASDAQ:OLED) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,225 shares of the semiconductor company’s stock, valued at approximately $1,641,000.

A number of other hedge funds also recently made changes to their positions in OLED. Raymond James Financial Inc. purchased a new stake in shares of Universal Display in the fourth quarter worth about $41,504,000. Jennison Associates LLC lifted its position in shares of Universal Display by 58.2% in the fourth quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock worth $99,975,000 after buying an additional 251,557 shares in the last quarter. Citigroup Inc. lifted its position in shares of Universal Display by 1,387.6% in the third quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company’s stock worth $54,936,000 after buying an additional 244,129 shares in the last quarter. Barclays PLC lifted its position in shares of Universal Display by 753.8% in the third quarter. Barclays PLC now owns 212,518 shares of the semiconductor company’s stock worth $44,608,000 after buying an additional 187,627 shares in the last quarter. Finally, Southpoint Capital Advisors LP lifted its position in shares of Universal Display by 46.0% in the third quarter. Southpoint Capital Advisors LP now owns 365,000 shares of the semiconductor company’s stock worth $76,614,000 after buying an additional 115,000 shares in the last quarter. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OLED has been the topic of a number of research analyst reports. Roth Mkm boosted their target price on Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Citigroup decreased their price objective on Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. StockNews.com downgraded Universal Display from a “hold” rating to a “sell” rating in a research report on Friday. Oppenheimer decreased their price objective on Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, January 2nd. Finally, Needham & Company LLC decreased their price objective on Universal Display from $215.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $190.43.

Universal Display Stock Performance

OLED opened at $155.87 on Tuesday. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of 33.52, a P/E/G ratio of 1.61 and a beta of 1.40. The stock’s 50 day moving average price is $148.89 and its 200-day moving average price is $171.71. Universal Display Co. has a one year low of $140.17 and a one year high of $237.00.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.14. The firm had revenue of $162.29 million for 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%. As a group, analysts predict that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.45 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.80 annualized dividend and a yield of 1.15%. This is a boost from Universal Display’s previous quarterly dividend of $0.40. 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.