Envestnet Asset Management Inc. reduced its stake in shares of Universal Display Co. (NASDAQ:OLED – Get Rating) by 28.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,707 shares of the semiconductor company’s stock after selling 19,692 shares during the quarter. Envestnet Asset Management Inc. owned 0.10% of Universal Display worth $5,262,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in OLED. Point72 Asset Management L.P. acquired a new position in Universal Display during the third quarter worth about $23,973,000. Vanguard Group Inc. grew its position in shares of Universal Display by 6.0% in the first quarter. Vanguard Group Inc. now owns 4,266,391 shares of the semiconductor company’s stock valued at $712,274,000 after purchasing an additional 241,855 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Universal Display in the third quarter valued at approximately $16,847,000. Copeland Capital Management LLC grew its position in shares of Universal Display by 37.8% in the fourth quarter. Copeland Capital Management LLC now owns 513,817 shares of the semiconductor company’s stock valued at $55,512,000 after purchasing an additional 140,825 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Universal Display by 40.3% in the third quarter. Renaissance Technologies LLC now owns 485,639 shares of the semiconductor company’s stock valued at $45,820,000 after purchasing an additional 139,566 shares during the last quarter. 73.43% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Lawrence Lacerte sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $136.73, for a total value of $2,050,950.00. Following the transaction, the director now owns 125,472 shares of the company’s stock, valued at approximately $17,155,786.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.
Universal Display Stock Down 0.9 %
Universal Display (NASDAQ:OLED – Get Rating) last posted its quarterly earnings results on Wednesday, May 3rd. The semiconductor company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The company had revenue of $130.47 million for the quarter, compared to the consensus estimate of $135.19 million. Universal Display had a net margin of 33.51% and a return on equity of 16.15%. Universal Display’s revenue was down 13.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 earnings per share. Research analysts forecast that Universal Display Co. will post 3.85 earnings per share for the current fiscal year.
Universal Display Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Thursday, June 15th. Universal Display’s dividend payout ratio is presently 33.49%.
Analyst Upgrades and Downgrades
Several analysts have recently commented on OLED shares. Oppenheimer increased their price target on shares of Universal Display from $160.00 to $180.00 in a research report on Tuesday, April 18th. Citigroup upped their price objective on shares of Universal Display from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, February 27th. Susquehanna raised shares of Universal Display from a “negative” rating to a “neutral” rating and upped their price objective for the company from $82.00 to $135.00 in a research note on Thursday, January 19th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Universal Display from $130.00 to $150.00 in a research note on Thursday, February 16th. Finally, StockNews.com began coverage on shares of Universal Display in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Three research 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 presently has a consensus rating of “Moderate Buy” and an average price target of $148.90.
Universal Display Profile
Universal Display Corp. engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials. It also develops and licenses proprietary OLED technologies to manufacturers of products for display applications, such as cell phones, portable media devices, tablets, laptop computers and televisions, and specialty and general lighting products.
- Get a free copy of the StockNews.com research report on Universal Display (OLED)
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