AI Squared Management Ltd Acquires New Shares in Universal Display Co. (NASDAQ:OLED)

AI Squared Management Ltd purchased a new stake in Universal Display Co. (NASDAQ:OLED) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 15,500 shares of the semiconductor company’s stock, valued at approximately $2,266,000. Universal Display accounts for about 2.3% of AI Squared Management Ltd’s portfolio, making the stock its 14th largest position.

Other hedge funds have also recently made changes to their positions in the company. Empowered Funds LLC boosted its holdings in Universal Display by 21.2% during the 3rd quarter. Empowered Funds LLC now owns 1,833 shares of the semiconductor company’s stock valued at $385,000 after acquiring an additional 320 shares during the period. Pathstone Holdings LLC lifted its position in shares of Universal Display by 7.6% during the third quarter. Pathstone Holdings LLC now owns 9,668 shares of the semiconductor company’s stock worth $2,029,000 after purchasing an additional 686 shares in the last quarter. Caprock Group LLC purchased a new position in shares of Universal Display in the third quarter valued at approximately $234,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Universal Display in the third quarter valued at approximately $420,000. Finally, Advisors Asset Management Inc. increased its stake in Universal Display by 164.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 999 shares of the semiconductor company’s stock worth $210,000 after buying an additional 621 shares during the period. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OLED. StockNews.com raised Universal Display from a “sell” rating to a “hold” rating in a research report on Friday. Roth Mkm boosted their price objective on Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Citigroup decreased their price target on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. The Goldman Sachs Group decreased their price objective on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, Susquehanna dropped their target price on Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Universal Display currently has an average rating of “Moderate Buy” and an average target price of $190.43.

Universal Display Stock Performance

Shares of OLED stock opened at $153.54 on Tuesday. The stock’s 50-day moving average is $149.27 and its two-hundred day moving average is $169.04. Universal Display Co. has a 1 year low of $140.17 and a 1 year high of $237.00. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of 33.02, a PEG ratio of 1.61 and a beta of 1.40.

Universal Display (NASDAQ:OLED) last released 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 firm had revenue of $162.29 million for the quarter, compared to the consensus estimate of $152.75 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. As a group, research analysts predict that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.45 per share. This is an increase from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 1.17%. The ex-dividend date is Monday, March 17th. Universal Display’s dividend payout ratio (DPR) is presently 38.71%.

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.