PAX Financial Group LLC Takes $699,000 Position in Universal Display Co. (NASDAQ:OLED)

PAX Financial Group LLC bought a new position in shares of Universal Display Co. (NASDAQ:OLED) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,784 shares of the semiconductor company’s stock, valued at approximately $699,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of OLED. Norges Bank purchased a new position in shares of Universal Display during the fourth quarter worth about $95,924,000. Raymond James Financial Inc. bought a new stake in Universal Display during the fourth quarter valued at approximately $41,504,000. Jennison Associates LLC grew its stake in Universal Display by 58.2% in the 4th 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. Barclays PLC increased its holdings in shares of Universal Display by 753.8% in the 3rd 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 during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Universal Display by 12.8% during the 4th quarter. Geode Capital Management LLC now owns 901,315 shares of the semiconductor company’s stock valued at $131,806,000 after buying an additional 101,963 shares in the last quarter. Institutional investors own 78.19% of the company’s stock.

Universal Display Stock Performance

Shares of Universal Display stock opened at $113.42 on Friday. Universal Display Co. has a 52-week low of $109.66 and a 52-week high of $237.00. The company’s 50 day moving average price is $147.52 and its 200-day moving average price is $165.72. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 24.39, a P/E/G ratio of 1.61 and a beta of 1.40.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.14. The business had revenue of $162.29 million for the quarter, compared to analyst estimates of $152.75 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.45 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.80 annualized dividend and a yield of 1.59%. This is a boost from Universal Display’s previous quarterly dividend of $0.40. Universal Display’s dividend payout ratio (DPR) is 38.71%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on OLED shares. Susquehanna cut their target price on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. StockNews.com upgraded Universal Display from a “sell” rating to a “hold” rating in a research report on Friday, March 21st. The Goldman Sachs Group dropped their target price on Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Needham & Company LLC reduced their price target on shares of Universal Display from $215.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Finally, Oppenheimer lowered their price objective 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. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.