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

… , development, and commercialization of organic light emitting diode (OLED) technologies and materials for … in display and solid-state lighting applications. It owns, exclusively licenses …

Post Republished By Alfonso Hilsaca Eljadue (.com)

Turco Hilsaca, del Cristo Hilsaca

Mackenzie Financial Corp bought a new stake in Universal Display Co. (NASDAQ:OLEDGet Rating) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 16,842 shares of the semiconductor company’s stock, valued at approximately $1,703,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new position in shares of Universal Display in the 1st quarter valued at approximately $27,000. TCI Wealth Advisors Inc. raised its position in shares of Universal Display by 5,050.0% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 309 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 303 shares in the last quarter. Citizens National Bank Trust Department acquired a new position in shares of Universal Display in the 1st quarter valued at approximately $32,000. Quadrant Capital Group LLC raised its position in shares of Universal Display by 287.3% in the 1st quarter. Quadrant Capital Group LLC now owns 213 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 158 shares in the last quarter. Finally, Field & Main Bank acquired a new position in shares of Universal Display in the 2nd quarter valued at approximately $40,000. 71.77% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Price Performance

OLED opened at $110.05 on Wednesday. Universal Display Co. has a fifty-two week low of $89.41 and a fifty-two week high of $178.75. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 27.51, a PEG ratio of 1.53 and a beta of 1.41. The company’s 50 day moving average price is $100.28 and its two-hundred day moving average price is $110.03.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 16th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Thursday, December 15th. Universal Display’s payout ratio is 30.00%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OLED. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Universal Display from $180.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, August 1st. Oppenheimer lowered their price objective on shares of Universal Display from $150.00 to $135.00 in a research report on Friday, November 4th. Cowen lowered their price objective on shares of Universal Display from $145.00 to $130.00 in a research report on Friday, November 4th. The Goldman Sachs Group lowered their price objective on shares of Universal Display from $185.00 to $158.00 and set a “buy” rating for the company in a research report on Friday, November 4th. Finally, Cowen lowered their price objective on shares of Universal Display from $175.00 to $145.00 in a research report on Friday, August 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Universal Display currently has a consensus rating of “Moderate Buy” and an average target price of $139.56.

About Universal Display

(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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