Bouvel Investment Partners LLC Purchases New Holdings in Universal Display Co. (NASDAQ:OLED)

Bouvel Investment Partners LLC purchased a new stake in shares of Universal Display Co. (NASDAQ:OLED) in the 1st quarter, Holdings Channel reports. The fund purchased 5,781 shares of the semiconductor company’s stock, valued at approximately $806,000.

Several other large investors have also recently bought and sold shares of the stock. CIBC Asset Management Inc boosted its position in Universal Display by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,473 shares of the semiconductor company’s stock valued at $215,000 after purchasing an additional 73 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Universal Display by 5.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,615 shares of the semiconductor company’s stock valued at $245,000 after buying an additional 85 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Universal Display by 0.7% in the fourth quarter. Arizona State Retirement System now owns 13,065 shares of the semiconductor company’s stock valued at $1,910,000 after buying an additional 88 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Universal Display by 0.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,091 shares of the semiconductor company’s stock valued at $1,475,000 after buying an additional 90 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in shares of Universal Display by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the semiconductor company’s stock valued at $1,798,000 after buying an additional 100 shares during the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OLED has been the subject of a number of recent analyst reports. Susquehanna cut their price objective on Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. 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 report on Friday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Universal Display in a research report on Friday, May 2nd. Finally, Wall Street Zen raised Universal Display from a “sell” rating to a “hold” rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $190.43.

Universal Display Trading Down 3.5%

Shares of NASDAQ OLED opened at $153.52 on Friday. The firm has a market cap of $7.30 billion, a P/E ratio of 33.02, a price-to-earnings-growth ratio of 1.61 and a beta of 1.50. Universal Display Co. has a 1-year low of $103.70 and a 1-year high of $237.00. The business’s 50 day moving average is $137.93 and its 200-day moving average is $145.31.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.28. The company had revenue of $166.28 million for the quarter, compared to analyst estimates of $154.76 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $1.19 earnings per share. Analysts forecast that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.17%. Universal Display’s dividend payout ratio (DPR) is currently 37.42%.

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.