KLP Kapitalforvaltning AS Invests $1.35 Million in Universal Display Co. (NASDAQ:OLED)

KLP Kapitalforvaltning AS acquired a new stake in Universal Display Co. (NASDAQ:OLED) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 9,200 shares of the semiconductor company’s stock, valued at approximately $1,345,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in shares of Universal Display in the 3rd quarter valued at about $30,000. True Wealth Design LLC bought a new position in shares of Universal Display during the third quarter worth about $36,000. Blue Trust Inc. raised its position in Universal Display by 401.9% in the 4th quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 209 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Universal Display by 761.1% in the 4th quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company’s stock valued at $45,000 after acquiring an additional 274 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Universal Display by 185.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 357 shares of the semiconductor company’s stock worth $52,000 after acquiring an additional 232 shares during the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OLED. Susquehanna cut their price objective on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Oppenheimer reduced their price objective on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, January 2nd. The Goldman Sachs Group decreased 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 upgraded Universal Display from a “sell” rating to a “hold” rating in a report on Friday, March 21st. Finally, Roth Mkm raised 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. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $190.43.

Universal Display Stock Down 3.1 %

Shares of NASDAQ OLED opened at $145.17 on Friday. The business’s 50 day moving average price is $149.47 and its two-hundred day moving average price is $168.06. The company has a market cap of $6.89 billion, a PE ratio of 31.22, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. Universal Display Co. has a twelve month low of $140.17 and a twelve month high of $237.00.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.14. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The business had revenue of $162.29 million for the quarter, compared to analyst estimates of $152.75 million. As a group, research analysts anticipate that Universal Display Co. will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Universal Display’s previous quarterly dividend of $0.40. Universal Display’s dividend payout ratio (DPR) is currently 38.71%.

Universal Display 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.