Bank of America Corp DE Acquires 25,997 Shares of Universal Display Co. (NASDAQ:OLED)

Bank of America Corp DE lifted its stake in Universal Display Co. (NASDAQ:OLED) by 7.7% in the 4th quarter, HoldingsChannel reports. The firm owned 363,042 shares of the semiconductor company’s stock after acquiring an additional 25,997 shares during the period. Bank of America Corp DE’s holdings in Universal Display were worth $53,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of OLED. Brown Brothers Harriman & Co. grew its holdings in Universal Display by 280.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 154 shares during the period. Blue Trust Inc. raised its stake in Universal Display by 401.9% during the 4th 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. Aster Capital Management DIFC Ltd purchased a new position in Universal Display during the fourth quarter valued at approximately $40,000. Farther Finance Advisors LLC lifted its holdings in Universal Display by 761.1% during the fourth quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 274 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Universal Display by 185.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 357 shares of the semiconductor company’s stock worth $52,000 after purchasing an additional 232 shares during the period. 78.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on OLED shares. Roth Mkm raised their price objective on shares of Universal Display from $207.00 to $213.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Citigroup lowered 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. The Goldman Sachs Group dropped their price objective on Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. StockNews.com raised Universal Display from a “sell” rating to a “hold” rating in a report on Friday, May 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $170.00 price objective on shares of Universal Display in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $190.43.

Universal Display Trading Down 0.3%

Shares of Universal Display stock opened at $154.53 on Wednesday. The firm has a market cap of $7.34 billion, a PE ratio of 33.23, a PEG ratio of 1.61 and a beta of 1.46. The stock has a 50 day moving average of $134.72 and a 200 day moving average of $149.47. Universal Display Co. has a 12 month low of $103.70 and a 12 month high of $237.00.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, May 1st. The semiconductor company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.28. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The firm had revenue of $166.28 million during the quarter, compared to the consensus estimate of $154.76 million. During the same period in the prior year, the company earned $1.19 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. As a group, equities research analysts forecast that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.45 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.16%. Universal Display’s dividend payout ratio (DPR) is presently 37.42%.

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.