Universal Display Corporation $OLED Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB cut its holdings in shares of Universal Display Corporation (NASDAQ:OLED) by 5.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 125,260 shares of the semiconductor company’s stock after selling 6,794 shares during the period. Handelsbanken Fonder AB owned about 0.27% of Universal Display worth $10,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OLED. Systematic Financial Management LP boosted its stake in shares of Universal Display by 40.2% in the fourth quarter. Systematic Financial Management LP now owns 196,515 shares of the semiconductor company’s stock worth $22,949,000 after buying an additional 56,320 shares during the last quarter. Caxton Associates LLP lifted its holdings in Universal Display by 132.6% in the first quarter. Caxton Associates LLP now owns 43,818 shares of the semiconductor company’s stock valued at $4,016,000 after acquiring an additional 24,977 shares during the period. Quantinno Capital Management LP boosted its position in Universal Display by 776.6% in the 1st quarter. Quantinno Capital Management LP now owns 251,218 shares of the semiconductor company’s stock worth $23,027,000 after purchasing an additional 222,561 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Universal Display in the 1st quarter worth approximately $11,544,000. Finally, UBS Group AG grew its stake in shares of Universal Display by 100.8% during the 4th quarter. UBS Group AG now owns 646,787 shares of the semiconductor company’s stock worth $75,532,000 after purchasing an additional 324,677 shares during the period. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Trading Down 1.1%

OLED stock opened at $90.96 on Friday. Universal Display Corporation has a 12-month low of $76.42 and a 12-month high of $153.38. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 22.02 and a beta of 1.54. The business’s 50-day moving average is $84.68 and its 200 day moving average is $95.03.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.03. The company had revenue of $152.16 million for the quarter, compared to analysts’ expectations of $157.54 million. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The firm’s quarterly revenue was down 11.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.41 EPS. As a group, equities analysts forecast that Universal Display Corporation will post 4.18 EPS for the current fiscal year.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 16th. Universal Display’s dividend payout ratio (DPR) is 48.43%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on OLED shares. Oppenheimer reiterated an “outperform” rating and issued a $120.00 target price (down from $130.00) on shares of Universal Display in a research note on Friday, July 31st. Weiss Ratings lowered shares of Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. BTIG Research cut shares of Universal Display to a “neutral” rating in a report on Friday, July 31st. The Goldman Sachs Group set a $135.00 price objective on shares of Universal Display in a research report on Tuesday, April 21st. Finally, Citigroup lowered their target price on shares of Universal Display from $100.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Universal Display currently has a consensus rating of “Hold” and a consensus target price of $116.33.

Universal Display Profile

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.