Hussman Strategic Advisors Inc. Invests $803,000 in Universal Display Co. (NASDAQ:OLED)

Hussman Strategic Advisors Inc. bought a new stake in Universal Display Co. (NASDAQ:OLED) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 4,200 shares of the semiconductor company’s stock, valued at approximately $803,000.

Several other institutional investors also recently bought and sold shares of the stock. CWM LLC lifted its position in Universal Display by 21.0% in the fourth quarter. CWM LLC now owns 606 shares of the semiconductor company’s stock valued at $116,000 after purchasing an additional 105 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Universal Display by 3.9% in the fourth quarter. Federated Hermes Inc. now owns 4,952 shares of the semiconductor company’s stock worth $947,000 after buying an additional 184 shares during the period. Guidance Capital Inc. bought a new stake in Universal Display during the 4th quarter valued at $205,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Universal Display by 6.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,020 shares of the semiconductor company’s stock valued at $2,490,000 after buying an additional 827 shares during the period. Finally, Cookson Peirce & Co. Inc. purchased a new stake in Universal Display during the 4th quarter valued at $228,000. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on OLED. Oppenheimer reaffirmed an “outperform” rating and set a $200.00 price objective (down from $210.00) on shares of Universal Display in a research note on Friday, February 23rd. Citigroup reiterated a “neutral” rating and issued a $180.00 price objective (up previously from $161.00) on shares of Universal Display in a report on Friday, January 19th. TD Cowen lifted their price objective on Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $198.00 target price on shares of Universal Display in a report on Tuesday, March 26th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Universal Display presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.86.

Universal Display Stock Performance

Universal Display stock opened at $151.08 on Monday. Universal Display Co. has a fifty-two week low of $125.98 and a fifty-two week high of $194.84. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 1.63 and a beta of 1.45. The stock’s 50 day simple moving average is $168.17 and its two-hundred day simple moving average is $169.33.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, February 22nd. The semiconductor company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.11. The company had revenue of $158.32 million for the quarter, compared to analyst estimates of $161.08 million. Universal Display had a return on equity of 14.85% and a net margin of 35.22%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 earnings per share. On average, analysts predict that Universal Display Co. will post 4.72 earnings per share for the current year.

Universal Display Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Universal Display’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.06%. Universal Display’s dividend payout ratio is currently 37.74%.

Universal Display 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.