Nuveen Asset Management LLC Lowers Stock Position in Universal Display Co. (NASDAQ:OLED)

Nuveen Asset Management LLC cut its stake in shares of Universal Display Co. (NASDAQ:OLED) by 9.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 103,937 shares of the semiconductor company’s stock after selling 11,438 shares during the period. Nuveen Asset Management LLC owned 0.22% of Universal Display worth $15,196,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Brown Brothers Harriman & Co. grew its stake in shares of Universal Display by 280.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 154 shares during the period. Blue Trust Inc. grew its stake in shares of Universal Display by 401.9% during the 4th quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 209 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Universal Display during the 4th quarter valued at $40,000. Farther Finance Advisors LLC grew its stake in shares of Universal Display by 761.1% during the 4th quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 274 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in shares of Universal Display by 185.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 357 shares of the semiconductor company’s stock valued at $52,000 after buying an additional 232 shares during the period. 78.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on OLED. Wall Street Zen upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a report on Friday, May 2nd. Susquehanna reduced their target price on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Needham & Company LLC restated a “buy” rating and set a $170.00 target price on shares of Universal Display in a report on Friday, May 2nd. Roth Mkm lifted their target price on shares of Universal Display from $207.00 to $213.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Citigroup reduced their target price on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $190.43.

Universal Display Price Performance

Shares of OLED stock opened at $143.01 on Monday. Universal Display Co. has a 12 month low of $103.70 and a 12 month high of $237.00. The firm has a market capitalization of $6.80 billion, a P/E ratio of 30.75, a P/E/G ratio of 1.61 and a beta of 1.46. The company’s fifty day moving average price is $134.23 and its two-hundred day moving average price is $146.95.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.28. The business had revenue of $166.28 million for the quarter, compared to analyst estimates of $154.76 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.19 EPS. On average, sell-side analysts anticipate that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.26%. Universal Display’s dividend payout ratio (DPR) is presently 37.42%.

Universal Display Company 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.