Bryce Point Capital LLC Takes Position in Universal Display Co. (NASDAQ:OLED)

Bryce Point Capital LLC bought a new position in shares of Universal Display Co. (NASDAQ:OLED) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,787 shares of the semiconductor company’s stock, valued at approximately $407,000.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Universal Display by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 4,784,099 shares of the semiconductor company’s stock worth $699,435,000 after buying an additional 67,590 shares during the period. Geode Capital Management LLC increased its stake in shares of Universal Display by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 901,315 shares of the semiconductor company’s stock worth $131,806,000 after purchasing an additional 101,963 shares during the period. Jennison Associates LLC lifted its holdings in Universal Display by 58.2% during the 4th quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock worth $99,975,000 after purchasing an additional 251,557 shares during the last quarter. Norges Bank bought a new stake in Universal Display in the 4th quarter valued at $95,924,000. Finally, Bank of New York Mellon Corp grew its holdings in Universal Display by 10.7% in the 4th quarter. Bank of New York Mellon Corp now owns 437,592 shares of the semiconductor company’s stock valued at $63,976,000 after buying an additional 42,218 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Stock Down 3.5 %

NASDAQ:OLED opened at $113.42 on Friday. The firm has a market capitalization of $5.38 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. Universal Display Co. has a twelve month low of $109.66 and a twelve month high of $237.00. The stock’s 50-day simple moving average is $147.52 and its 200 day simple moving average is $165.72.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.14. The business had revenue of $162.29 million during the quarter, compared to analysts’ expectations of $152.75 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. On average, analysts anticipate that Universal Display Co. will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.45 per share. The ex-dividend date was Monday, March 17th. This represents a $1.80 dividend on an annualized basis and a yield of 1.59%. This is a positive change from Universal Display’s previous quarterly dividend of $0.40. Universal Display’s payout ratio is currently 38.71%.

Wall Street Analyst Weigh In

OLED has been the subject of a number of recent research reports. Citigroup reduced their target price on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. The Goldman Sachs Group cut their price objective on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Roth Mkm raised their target price on shares of Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Oppenheimer reduced their price target on Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, January 2nd. Finally, Needham & Company LLC dropped their price objective on Universal Display from $215.00 to $170.00 and set a “buy” rating for the company in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Universal Display currently has a consensus rating of “Moderate Buy” and an average price target of $190.43.

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.