Stratos Wealth Partners LTD. Cuts Position in Universal Display Co. (NASDAQ:OLED)

Stratos Wealth Partners LTD. lessened its holdings in Universal Display Co. (NASDAQ:OLED) by 19.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,745 shares of the semiconductor company’s stock after selling 418 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Universal Display were worth $334,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Universal Display by 0.5% in the third quarter. Vanguard Group Inc. now owns 4,511,145 shares of the semiconductor company’s stock valued at $708,205,000 after purchasing an additional 23,944 shares during the last quarter. BlackRock Inc. lifted its stake in Universal Display by 2.8% in the first quarter. BlackRock Inc. now owns 4,309,400 shares of the semiconductor company’s stock valued at $719,455,000 after purchasing an additional 117,055 shares during the last quarter. State Street Corp lifted its stake in Universal Display by 1.2% in the second quarter. State Street Corp now owns 1,521,726 shares of the semiconductor company’s stock valued at $219,326,000 after purchasing an additional 18,071 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Universal Display by 7.1% in the second quarter. Alliancebernstein L.P. now owns 1,435,162 shares of the semiconductor company’s stock valued at $206,850,000 after purchasing an additional 94,570 shares during the last quarter. Finally, FMR LLC lifted its stake in Universal Display by 10.6% in the third quarter. FMR LLC now owns 1,398,961 shares of the semiconductor company’s stock valued at $219,623,000 after purchasing an additional 134,000 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Wall Street Analyst Weigh In

OLED has been the topic of several research analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $200.00 price objective (down previously from $210.00) on shares of Universal Display in a research note on Friday, February 23rd. TheStreet upgraded Universal Display from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. TD Cowen increased their target price on Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Citigroup restated a “neutral” rating and set a $180.00 target price (up previously from $161.00) on shares of Universal Display in a research report on Friday, January 19th. Finally, Bank of America upgraded Universal Display from a “neutral” rating to a “buy” rating and increased their target price for the stock from $160.00 to $250.00 in a research report on Monday, December 18th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.86.

Universal Display Stock Performance

Universal Display stock opened at $159.59 on Monday. The stock has a market cap of $7.56 billion, a P/E ratio of 37.64, a PEG ratio of 1.74 and a beta of 1.45. Universal Display Co. has a fifty-two week low of $125.98 and a fifty-two week high of $194.84. The firm’s fifty day moving average price is $170.46 and its 200-day moving average price is $169.40.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, February 22nd. The semiconductor company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.11. The firm had revenue of $158.32 million for the quarter, compared to analysts’ expectations of $161.08 million. Universal Display had a net margin of 35.22% and a return on equity of 14.85%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.36 earnings per share. Sell-side analysts predict that Universal Display Co. will post 4.72 earnings per share for the current year.

Universal Display Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 1.00%. This is a boost from Universal Display’s previous quarterly dividend of $0.35. Universal Display’s dividend payout ratio is presently 37.74%.

Universal Display 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.