Universal Display Co. (NASDAQ:OLED) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 2.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,957 shares of the semiconductor company’s stock after buying an additional 227 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Universal Display were worth $1,163,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in OLED. Assetmark Inc. purchased a new position in Universal Display during the third quarter worth about $29,000. Brooklyn Investment Group purchased a new position in Universal Display during the third quarter worth about $30,000. True Wealth Design LLC purchased a new position in Universal Display during the third quarter worth about $36,000. Blue Trust Inc. raised its holdings in Universal Display by 401.9% during the fourth quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 209 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Universal Display by 185.6% during 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 in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Price Performance

Shares of OLED opened at $150.35 on Monday. The firm has a 50 day simple moving average of $148.95 and a 200-day simple moving average of $170.55. Universal Display Co. has a 1-year low of $140.17 and a 1-year high of $237.00. The stock has a market cap of $7.14 billion, a price-to-earnings ratio of 32.33, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data 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 net margin of 34.29% and a return on equity of 15.51%. The business had revenue of $162.29 million during the quarter, compared to analysts’ expectations of $152.75 million. On average, equities analysts expect that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The firm also recently disclosed 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 1.20%. This is a boost from Universal Display’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, March 17th. Universal Display’s dividend payout ratio (DPR) is 38.71%.

Analysts Set New Price Targets

Several research analysts recently issued reports on OLED shares. Roth Mkm increased their price target on shares of Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Citigroup cut their price target on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a report on Monday, February 10th. The Goldman Sachs Group cut their price target on shares of 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 cut shares of Universal Display from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Finally, Oppenheimer dropped their target price on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Universal Display has a consensus rating of “Moderate Buy” and an average price target of $190.43.

About Universal Display

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.