5 Latest Dividend Hikes to Watch

4. Universal Display Corporation (NASDAQ:OLED)

Number of Hedge Fund Holders: 34

Percentage of Dividend Increase: 50%

Founded in 1985 and headquartered in New Jersey, Universal Display Corporation (NASDAQ:OLED) manufactures organic light emitting diodes (OLED) technologies for the display and lighting industries. 

Universal Display Corporation (NASDAQ:OLED) on February 23 declared a $0.30 per share quarterly dividend, a 50% increase from its earlier dividend of $0.20. The dividend is payable on March 31, for shareholders of record on March 17. The company posted an above consensus revenue of $146.25 million. 

On February 24, Needham analyst James Ricchiuti lowered the price target on Universal Display Corporation (NASDAQ:OLED) to $195 from $245 after its Q4 earnings miss but kept a Buy rating on the shares. The analyst remains positive on Universal Display Corporation (NASDAQ:OLED) as the only pure-play in the OLED display market, stating that it is well-situated to benefit from the ongoing transition from LCD displays in the mobile market to OLED smartphones, tablets, and laptops.

Elite hedge funds hold significant stakes in Universal Display Corporation (NASDAQ:OLED) as of Q4 2021. 34 hedge funds in the database of Insider Monkey were long Universal Display Corporation (NASDAQ:OLED), holding stakes worth $1.35 billion. Citadel Investment Group owned the leading stake in Universal Display Corporation (NASDAQ:OLED) at the end of December 2021, with 690,798 shares worth $114 million.