Invesco Ltd. Purchases 76,254 Shares of Universal Display Co. (NASDAQ:OLED)

Invesco Ltd. increased its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 33.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 305,514 shares of the semiconductor company’s stock after acquiring an additional 76,254 shares during the period. Invesco Ltd.’s holdings in Universal Display were worth $44,666,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. HighTower Advisors LLC increased its stake in shares of Universal Display by 20.6% in the third quarter. HighTower Advisors LLC now owns 6,132 shares of the semiconductor company’s stock valued at $1,287,000 after buying an additional 1,048 shares in the last quarter. MML Investors Services LLC grew its holdings in Universal Display by 208.8% during the 3rd quarter. MML Investors Services LLC now owns 4,008 shares of the semiconductor company’s stock worth $841,000 after acquiring an additional 2,710 shares during the last quarter. Barclays PLC increased its position in Universal Display by 753.8% in the 3rd quarter. Barclays PLC now owns 212,518 shares of the semiconductor company’s stock valued at $44,608,000 after acquiring an additional 187,627 shares in the last quarter. M&T Bank Corp raised its stake in shares of Universal Display by 12.0% in the third quarter. M&T Bank Corp now owns 2,086 shares of the semiconductor company’s stock worth $438,000 after acquiring an additional 223 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Universal Display during the third quarter worth approximately $2,356,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Price Performance

Shares of NASDAQ:OLED opened at $116.54 on Wednesday. The firm’s 50 day simple moving average is $141.69 and its 200 day simple moving average is $159.82. Universal Display Co. has a fifty-two week low of $103.70 and a fifty-two week high of $237.00. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 25.06, a P/E/G ratio of 1.61 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results 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 company had revenue of $162.29 million for the quarter, compared to analysts’ expectations of $152.75 million. Equities research analysts expect that Universal Display Co. will post 4.71 earnings per share for the current year.

Universal Display Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.45 dividend. This is an increase from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Monday, March 17th. Universal Display’s dividend payout ratio is 38.71%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on OLED shares. Susquehanna dropped their price objective 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. 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. Roth Mkm raised their price target on Universal Display from $207.00 to $213.00 and gave the company a “buy” rating in a report on Friday, February 21st. Citigroup dropped their price objective on Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Finally, Oppenheimer reduced their target price on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average 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.