Mackenzie Financial Corp Takes Position in Universal Display Co. (NASDAQ:OLED)

Mackenzie Financial Corp bought a new stake in Universal Display Co. (NASDAQ:OLEDGet Rating) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,842 shares of the semiconductor company’s stock, valued at approximately $1,703,000.

Several other institutional investors and hedge funds also recently made changes to their positions in OLED. JPMorgan Chase & Co. raised its holdings in shares of Universal Display by 42.3% in the first quarter. JPMorgan Chase & Co. now owns 838,603 shares of the semiconductor company’s stock valued at $140,006,000 after purchasing an additional 249,377 shares during the last quarter. Vanguard Group Inc. increased its holdings in Universal Display by 6.0% during the first quarter. Vanguard Group Inc. now owns 4,266,391 shares of the semiconductor company’s stock worth $712,274,000 after buying an additional 241,855 shares during the last quarter. BlackRock Inc. increased its holdings in Universal Display by 2.8% during the first quarter. BlackRock Inc. now owns 4,309,400 shares of the semiconductor company’s stock worth $719,455,000 after buying an additional 117,055 shares during the last quarter. Van ECK Associates Corp increased its holdings in Universal Display by 48.0% during the first quarter. Van ECK Associates Corp now owns 329,691 shares of the semiconductor company’s stock worth $55,042,000 after buying an additional 106,879 shares during the last quarter. Finally, Copeland Capital Management LLC increased its holdings in Universal Display by 17.4% during the second quarter. Copeland Capital Management LLC now owns 370,216 shares of the semiconductor company’s stock worth $37,443,000 after buying an additional 54,777 shares during the last quarter. Hedge funds and other institutional investors own 71.77% of the company’s stock.

Universal Display Stock Up 2.6 %

Shares of NASDAQ:OLED opened at $110.05 on Wednesday. The company has a 50-day moving average price of $100.28 and a two-hundred day moving average price of $110.03. Universal Display Co. has a twelve month low of $89.41 and a twelve month high of $178.75. The firm has a market capitalization of $5.20 billion, a PE ratio of 27.51, a P/E/G ratio of 1.53 and a beta of 1.41.

Universal Display Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 16th will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, December 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.09%. Universal Display’s dividend payout ratio (DPR) is currently 30.00%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on OLED shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Universal Display from $180.00 to $150.00 and set a “buy” rating for the company in a report on Monday, August 1st. Needham & Company LLC decreased their price objective on shares of Universal Display from $140.00 to $128.00 and set a “buy” rating for the company in a report on Friday, November 4th. Oppenheimer decreased their price objective on shares of Universal Display from $150.00 to $135.00 in a report on Friday, November 4th. DA Davidson decreased their price objective on shares of Universal Display from $165.00 to $140.00 in a report on Tuesday, July 26th. Finally, The Goldman Sachs Group decreased their price objective on shares of Universal Display from $185.00 to $158.00 and set a “buy” rating for the company in a report on Friday, November 4th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $139.56.

Universal Display Profile

(Get Rating)

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. It owns, exclusively licenses, or has sole rights to sublicense approximately 5,500 issued and pending patents worldwide.

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Institutional Ownership by Quarter for Universal Display (NASDAQ:OLED)

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