1492 Capital Management LLC Has $2.44 Million Position in Universal Display Co. (NASDAQ:OLED)

1492 Capital Management LLC decreased its position in shares of Universal Display Co. (NASDAQ:OLED) by 5.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 16,691 shares of the semiconductor company’s stock after selling 1,002 shares during the quarter. 1492 Capital Management LLC’s holdings in Universal Display were worth $2,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of OLED. Canada Pension Plan Investment Board acquired a new stake in Universal Display in the 4th quarter worth about $5,322,000. S Squared Technology LLC grew its position in Universal Display by 27.5% during the fourth quarter. S Squared Technology LLC now owns 102,000 shares of the semiconductor company’s stock worth $14,912,000 after buying an additional 22,000 shares in the last quarter. Bridgewater Associates LP lifted its position in shares of Universal Display by 81.5% during the 4th quarter. Bridgewater Associates LP now owns 72,072 shares of the semiconductor company’s stock valued at $10,537,000 after acquiring an additional 32,357 shares during the period. XTX Topco Ltd acquired a new stake in shares of Universal Display during the 4th quarter worth $257,000. Finally, Icon Advisers Inc. Co. raised its stake in Universal Display by 37.3% in the fourth quarter. Icon Advisers Inc. Co. now owns 22,784 shares of the semiconductor company’s stock valued at $3,331,000 after purchasing an additional 6,184 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Price Performance

OLED opened at $113.98 on Friday. The company’s 50 day moving average price is $140.53 and its two-hundred day moving average price is $158.84. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 1.61 and a beta of 1.42. Universal Display Co. has a fifty-two week low of $103.70 and a fifty-two week high of $237.00.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.14. The business had revenue of $162.29 million during 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, equities research analysts predict that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.45 dividend. This is a positive change from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Monday, March 17th. Universal Display’s payout ratio is currently 38.71%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Susquehanna decreased their target price on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. StockNews.com lowered Universal Display from a “hold” rating to a “sell” rating in a research note on Friday, April 11th. Roth Mkm raised their price objective on Universal Display from $207.00 to $213.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Oppenheimer lowered their target price on Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, January 2nd. Finally, Needham & Company LLC decreased their price target on shares of Universal Display from $215.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average 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.