Pathstone Family Office LLC Boosts Stake in Universal Display Co. (NASDAQ:OLED)

Pathstone Family Office LLC increased its position in Universal Display Co. (NASDAQ:OLED – Get Rating) by 22.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,051 shares of the semiconductor company’s stock after buying an additional 1,478 shares during the period. Pathstone Family Office LLC’s holdings in Universal Display were worth $759,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Quadrant Capital Group LLC lifted its position in shares of Universal Display by 191.3% in the third quarter. Quadrant Capital Group LLC now owns 367 shares of the semiconductor company’s stock worth $35,000 after buying an additional 241 shares in the last quarter. NuWave Investment Management LLC purchased a new stake in shares of Universal Display in the third quarter worth about $41,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Universal Display in the first quarter worth about $93,000. CWM LLC lifted its position in shares of Universal Display by 28.4% in the third quarter. CWM LLC now owns 583 shares of the semiconductor company’s stock worth $55,000 after buying an additional 129 shares in the last quarter. Finally, Sandy Spring Bank raised its position in Universal Display by 48.1% during the third quarter. Sandy Spring Bank now owns 770 shares of the semiconductor company’s stock valued at $73,000 after purchasing an additional 250 shares during the period. 73.43% of the stock is currently owned by hedge funds and other institutional investors.

Universal Display Stock Performance

Shares of NASDAQ OLED opened at $136.96 on Tuesday. Universal Display Co. has a fifty-two week low of $89.41 and a fifty-two week high of $176.41. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 2.33 and a beta of 1.44. The business’s 50 day moving average price is $130.44 and its 200-day moving average price is $113.82.

Universal Display (NASDAQ:OLED – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.43. Universal Display had a return on equity of 17.56% and a net margin of 34.07%. The company had revenue of $169.00 million for the quarter, compared to analysts’ expectations of $148.97 million. During the same quarter in the prior year, the firm earned $0.96 earnings per share. Universal Display’s revenue was up 15.6% compared to the same quarter last year. Sell-side analysts predict that Universal Display Co. will post 3.76 earnings per share for the current year.

Universal Display Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be paid a $0.35 dividend. The ex-dividend date is Thursday, March 16th. This represents a $1.40 annualized dividend and a yield of 1.02%. This is a boost from Universal Display’s previous quarterly dividend of $0.30. Universal Display’s dividend payout ratio is 27.27%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OLED. Cowen upped their price objective on Universal Display from $130.00 to $148.00 and gave the company an “outperform” rating in a research report on Friday, February 24th. Citigroup upped their price objective on Universal Display from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, February 27th. Deutsche Bank Aktiengesellschaft upped their price objective on Universal Display from $130.00 to $150.00 in a research report on Thursday, February 16th. Susquehanna upgraded Universal Display from a “negative” rating to a “neutral” rating and upped their price objective for the company from $82.00 to $135.00 in a research report on Thursday, January 19th. Finally, Oppenheimer upped their price objective on Universal Display from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, February 24th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $146.90.

Universal Display Profile

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Universal Display Corp. engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials. It also develops and licenses proprietary OLED technologies to manufacturers of products for display applications, such as cell phones, portable media devices, tablets, laptop computers and televisions, and specialty and general lighting products.