Russell Investments Group Ltd. Lowers Stock Holdings in Universal Display Co. (NASDAQ:OLED)

Russell Investments Group Ltd. cut its stake in shares of Universal Display Co. (NASDAQ:OLED) by 6.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 53,891 shares of the semiconductor company’s stock after selling 3,663 shares during the quarter. Russell Investments Group Ltd.’s holdings in Universal Display were worth $10,307,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of OLED. Orion Capital Management LLC purchased a new position in Universal Display during the 3rd quarter worth $31,000. Rise Advisors LLC bought a new position in shares of Universal Display during the 4th quarter worth $57,000. GAMMA Investing LLC purchased a new position in shares of Universal Display during the fourth quarter valued at $73,000. Fifth Third Bancorp raised its holdings in shares of Universal Display by 22.5% in the third quarter. Fifth Third Bancorp now owns 593 shares of the semiconductor company’s stock valued at $93,000 after acquiring an additional 109 shares in the last quarter. Finally, CWM LLC lifted its stake in Universal Display by 21.0% in the fourth quarter. CWM LLC now owns 606 shares of the semiconductor company’s stock worth $116,000 after acquiring an additional 105 shares during the period. Institutional investors own 78.19% of the company’s stock.

Universal Display Price Performance

Universal Display stock opened at $170.82 on Monday. The business has a fifty day moving average price of $163.28 and a 200-day moving average price of $169.10. Universal Display Co. has a 1-year low of $131.00 and a 1-year high of $194.84. The stock has a market capitalization of $8.10 billion, a price-to-earnings ratio of 37.13, a PEG ratio of 1.85 and a beta of 1.44.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.14. The business had revenue of $165.26 million for the quarter, compared to analyst estimates of $150.75 million. Universal Display had a return on equity of 15.57% and a net margin of 36.00%. The company’s revenue was up 26.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.83 earnings per share. On average, equities research analysts anticipate that Universal Display Co. will post 4.74 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.94%. Universal Display’s payout ratio is currently 34.78%.

Wall Street Analyst Weigh In

Several research firms have recently commented on OLED. TD Cowen boosted 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. Needham & Company LLC restated a “buy” rating and set a $198.00 target price on shares of Universal Display in a report on Friday. Citigroup reiterated a “neutral” rating and issued a $180.00 price target (up from $161.00) on shares of Universal Display in a report on Friday, January 19th. Finally, Oppenheimer restated an “outperform” rating and set a $200.00 price objective (down from $210.00) on shares of Universal Display in a research note 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $199.86.

About Universal Display

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.