LGT Capital Partners LTD. Sells 153,520 Shares of Universal Display Co. (NASDAQ:OLED)

LGT Capital Partners LTD. trimmed its position in shares of Universal Display Co. (NASDAQ:OLED) by 53.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 134,190 shares of the semiconductor company’s stock after selling 153,520 shares during the quarter. LGT Capital Partners LTD. owned about 0.28% of Universal Display worth $25,665,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Alliancebernstein L.P. increased its holdings in Universal Display by 1,715.2% in the 4th quarter. Alliancebernstein L.P. now owns 1,210,966 shares of the semiconductor company’s stock worth $130,833,000 after buying an additional 1,144,252 shares in the last quarter. Norges Bank purchased a new stake in Universal Display during the fourth quarter valued at $47,819,000. UniSuper Management Pty Ltd purchased a new stake in shares of Universal Display during the 2nd quarter valued at about $43,127,000. Vanguard Group Inc. raised its position in Universal Display by 6.0% in the first quarter. Vanguard Group Inc. now owns 4,266,391 shares of the semiconductor company’s stock worth $712,274,000 after acquiring an additional 241,855 shares during the period. Finally, Westfield Capital Management Co. LP bought a new position in Universal Display in the 1st quarter worth $29,631,000. 78.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America upgraded shares of Universal Display from a “neutral” rating to a “buy” rating and upped their target price for the stock from $160.00 to $250.00 in a research report on Monday, December 18th. Needham & Company LLC reiterated a “buy” rating and issued a $198.00 target price on shares of Universal Display in a research note on Tuesday. TheStreet raised Universal Display from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Citigroup reissued a “neutral” rating and issued a $180.00 target price (up from $161.00) on shares of Universal Display in a research report on Friday, January 19th. Finally, TD Cowen upped their price target on shares of Universal Display from $165.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Universal Display has a consensus rating of “Moderate Buy” and an average price target of $199.86.

Universal Display Stock Performance

Shares of NASDAQ OLED opened at $168.45 on Friday. The firm has a market cap of $7.98 billion, a P/E ratio of 39.73, a price-to-earnings-growth ratio of 1.83 and a beta of 1.45. Universal Display Co. has a 1 year low of $125.98 and a 1 year high of $194.84. The firm’s 50 day moving average price is $173.12 and its 200 day moving average price is $168.83.

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

Universal Display Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be issued a dividend of $0.40 per share. This is a positive change from Universal Display’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. Universal Display’s payout ratio is presently 37.74%.

Universal Display Company 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.