Magnetar Financial LLC Makes New Investment in Universal Display Co. (NASDAQ:OLED)

Magnetar Financial LLC bought a new position in Universal Display Co. (NASDAQ:OLED) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,752 shares of the semiconductor company’s stock, valued at approximately $695,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of Universal Display by 1.9% in the third quarter. Geode Capital Management LLC now owns 799,352 shares of the semiconductor company’s stock valued at $167,825,000 after buying an additional 15,015 shares during the period. Jennison Associates LLC increased its stake 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 valued at $99,975,000 after buying an additional 251,557 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Universal Display by 10.7% in the fourth quarter. Bank of New York Mellon Corp now owns 437,592 shares of the semiconductor company’s stock valued at $63,976,000 after buying an additional 42,218 shares during the period. Southpoint Capital Advisors LP increased its stake 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 valued at $76,614,000 after buying an additional 115,000 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Universal Display by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 341,019 shares of the semiconductor company’s stock valued at $49,857,000 after buying an additional 7,147 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Stock Performance

Shares of NASDAQ:OLED opened at $148.50 on Friday. The business’s 50 day simple moving average is $149.09 and its two-hundred day simple moving average is $169.49. The firm has a market cap of $7.05 billion, a P/E ratio of 31.94, a PEG ratio of 1.61 and a beta of 1.40. Universal Display Co. has a 52-week low of $140.17 and a 52-week high of $237.00.

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 the consensus estimate 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 return on equity of 15.51% and a net margin of 34.29%. On average, equities analysts forecast that Universal Display Co. will post 4.71 earnings per share 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 issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Monday, March 17th. This is a positive change from Universal Display’s previous quarterly dividend of $0.40. Universal Display’s dividend payout ratio (DPR) is currently 38.71%.

Analyst Upgrades and Downgrades

OLED has been the topic of several research analyst reports. Roth Mkm upped their target price on Universal Display from $207.00 to $213.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Needham & Company LLC cut their target price 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. Oppenheimer cut their target price 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. Citigroup cut their target price 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. Finally, StockNews.com upgraded Universal Display from a “sell” rating to a “hold” rating in a research report on Friday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Universal Display has a consensus rating of “Moderate Buy” and an average price target of $190.43.

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.