Advisory Services Network LLC Lowers Position in Universal Display Co. (NASDAQ:OLED)

Advisory Services Network LLC cut its holdings in Universal Display Co. (NASDAQ:OLED) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,033 shares of the semiconductor company’s stock after selling 555 shares during the quarter. Advisory Services Network LLC owned approximately 0.10% of Universal Display worth $9,378,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Universal Display by 0.5% during the third quarter. Vanguard Group Inc. now owns 4,511,145 shares of the semiconductor company’s stock valued at $708,205,000 after acquiring an additional 23,944 shares in the last quarter. FMR LLC increased its holdings in shares of Universal Display by 10.6% during the third quarter. FMR LLC now owns 1,398,961 shares of the semiconductor company’s stock valued at $219,623,000 after acquiring an additional 134,000 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Universal Display by 0.4% during the fourth quarter. Jennison Associates LLC now owns 903,068 shares of the semiconductor company’s stock valued at $172,721,000 after acquiring an additional 3,397 shares in the last quarter. Norges Bank acquired a new position in shares of Universal Display during the fourth quarter valued at about $101,088,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Universal Display by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 315,465 shares of the semiconductor company’s stock valued at $60,336,000 after acquiring an additional 6,943 shares in the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Universal Display

In other Universal Display news, EVP Julia J. Brown sold 10,358 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $175.00, for a total value of $1,812,650.00. Following the transaction, the executive vice president now owns 56,624 shares in the company, valued at approximately $9,909,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Universal Display news, EVP Julia J. Brown sold 10,358 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $175.00, for a total value of $1,812,650.00. Following the completion of the sale, the executive vice president now directly owns 56,624 shares of the company’s stock, valued at approximately $9,909,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mauro Premutico sold 8,202 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $176.82, for a total value of $1,450,277.64. Following the completion of the sale, the senior vice president now directly owns 28,743 shares of the company’s stock, valued at $5,082,337.26. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OLED. Oppenheimer reiterated an “outperform” rating and issued a $200.00 price target (down previously from $210.00) on shares of Universal Display in a report on Friday, February 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $198.00 price target on shares of Universal Display in a report on Friday, May 3rd. Finally, TD Cowen increased their price target on shares of Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $199.86.

Universal Display Stock Performance

Shares of NASDAQ:OLED traded up $2.23 during midday trading on Friday, reaching $176.59. 266,853 shares of the company’s stock traded hands, compared to its average volume of 282,625. Universal Display Co. has a 1 year low of $133.67 and a 1 year high of $194.84. The company has a market cap of $8.38 billion, a P/E ratio of 38.58, a PEG ratio of 1.92 and a beta of 1.44. The company has a fifty day simple moving average of $164.68 and a two-hundred day simple moving average of $171.50.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.14. Universal Display had a return on equity of 15.57% and a net margin of 36.00%. The firm had revenue of $165.26 million for the quarter, compared to analyst estimates of $150.75 million. During the same quarter last year, the firm posted $0.83 EPS. The business’s revenue was up 26.7% on a year-over-year basis. As a group, research analysts forecast that Universal Display Co. will post 4.73 EPS for the current fiscal year.

Universal Display Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 0.91%. Universal Display’s payout ratio is currently 34.78%.

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.