Wells Fargo & Company MN Sells 1,361 Shares of Universal Display Co. (NASDAQ:OLED)

Wells Fargo & Company MN decreased its stake in Universal Display Co. (NASDAQ:OLEDFree Report) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,234 shares of the semiconductor company’s stock after selling 1,361 shares during the period. Wells Fargo & Company MN owned about 0.08% of Universal Display worth $7,695,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in OLED. Victory Capital Management Inc. grew its holdings in shares of Universal Display by 4.5% during the 3rd quarter. Victory Capital Management Inc. now owns 7,771 shares of the semiconductor company’s stock valued at $1,220,000 after purchasing an additional 337 shares during the last quarter. Barclays PLC boosted its position in Universal Display by 15.0% during the 3rd quarter. Barclays PLC now owns 61,724 shares of the semiconductor company’s stock valued at $9,690,000 after buying an additional 8,041 shares during the period. New York Life Investment Management LLC boosted its position in Universal Display by 112.4% during the 3rd quarter. New York Life Investment Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $731,000 after buying an additional 2,463 shares during the period. Amalgamated Bank boosted its position in Universal Display by 4.4% during the 3rd quarter. Amalgamated Bank now owns 31,472 shares of the semiconductor company’s stock valued at $4,941,000 after buying an additional 1,314 shares during the period. Finally, Swiss National Bank lifted its position in shares of Universal Display by 1.1% in the 3rd quarter. Swiss National Bank now owns 98,800 shares of the semiconductor company’s stock worth $15,511,000 after purchasing an additional 1,100 shares during the period. Institutional investors own 78.19% of the company’s stock.

Universal Display Stock Performance

NASDAQ:OLED opened at $182.31 on Thursday. The firm has a market cap of $8.65 billion, a P/E ratio of 39.63, a P/E/G ratio of 1.92 and a beta of 1.47. Universal Display Co. has a fifty-two week low of $133.67 and a fifty-two week high of $194.84. The firm has a 50-day simple moving average of $166.99 and a two-hundred day simple moving average of $172.88.

Universal Display (NASDAQ:OLEDGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.14. The business had revenue of $165.26 million during the quarter, compared to analyst estimates of $150.75 million. Universal Display had a net margin of 36.00% and a return on equity of 15.57%. Universal Display’s revenue was up 26.7% compared to the same quarter last year. During the same period last year, the business earned $0.83 EPS. On average, equities research analysts predict that Universal Display Co. will post 4.75 EPS for the current year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid 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 dividend yield of 0.88%. Universal Display’s dividend payout ratio is presently 34.78%.

Insider Transactions at Universal Display

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

Analyst Ratings Changes

Several research firms have recently commented on OLED. Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 target price (down from $210.00) on shares of Universal Display in a research report on Friday, February 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $198.00 target price on shares of Universal Display in a research report on Friday, May 3rd. Finally, TD Cowen raised their target price on shares of Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Two research 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.com, Universal Display presently has a consensus rating of “Moderate Buy” and an average target price of $199.86.

Read Our Latest Report on Universal Display

Universal Display Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding OLED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Display Co. (NASDAQ:OLEDFree Report).

Institutional Ownership by Quarter for Universal Display (NASDAQ:OLED)

Receive News & Ratings for Universal Display Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Display and related companies with MarketBeat.com's FREE daily email newsletter.