Avenir Corp Sells 2,577 Shares of Universal Display Co. (NASDAQ:OLED)

Avenir Corp reduced its stake in Universal Display Co. (NASDAQ:OLED - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 196,576 shares of the semiconductor company's stock after selling 2,577 shares during the quarter. Universal Display makes up 2.9% of Avenir Corp's investment portfolio, making the stock its 12th largest holding. Avenir Corp owned approximately 0.41% of Universal Display worth $28,739,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OLED. Bridgewater Associates LP lifted its position in Universal Display by 81.5% during the 4th quarter. Bridgewater Associates LP now owns 72,072 shares of the semiconductor company's stock worth $10,537,000 after acquiring an additional 32,357 shares during the last quarter. XTX Topco Ltd bought a new position in Universal Display in the 4th quarter worth approximately $257,000. Icon Advisers Inc. Co. boosted its stake in Universal Display by 37.3% during the fourth quarter. Icon Advisers Inc. Co. now owns 22,784 shares of the semiconductor company's stock worth $3,331,000 after buying an additional 6,184 shares in the last quarter. Barclays PLC raised its holdings in shares of Universal Display by 17.9% in the 4th quarter. Barclays PLC now owns 250,647 shares of the semiconductor company's stock worth $36,645,000 after buying an additional 38,129 shares in the last quarter. Finally, Townsquare Capital LLC bought a new position in shares of Universal Display during the fourth quarter valued at $2,159,000. Institutional investors and hedge funds own 78.19% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on OLED shares. Oppenheimer lowered their target price on Universal Display from $220.00 to $200.00 and set an "outperform" rating for the company in a research note on Thursday, January 2nd. The Goldman Sachs Group cut their target price on shares of Universal Display from $234.00 to $203.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Citigroup dropped their price target on shares of Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a research note on Monday, February 10th. Roth Mkm upped their price objective on shares of Universal Display from $207.00 to $213.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Finally, Needham & Company LLC dropped their price target on Universal Display from $215.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $190.43.

Universal Display Stock Up 2.5 %

OLED traded up $2.87 during trading on Tuesday, hitting $116.65. The company's stock had a trading volume of 141,454 shares, compared to its average volume of 770,877. The firm has a market capitalization of $5.54 billion, a P/E ratio of 25.09, a PEG ratio of 1.61 and a beta of 1.42. Universal Display Co. has a twelve month low of $103.70 and a twelve month high of $237.00. The stock's fifty day moving average price is $139.39 and its 200-day moving average price is $156.84.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.08 by $0.14. The firm had revenue of $162.29 million during the quarter, compared to analyst estimates of $152.75 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. Equities research analysts expect that Universal Display Co. will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.45 per share. This is a boost from Universal Display's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.80 dividend on an annualized basis and a yield of 1.54%. Universal Display's payout ratio is presently 38.71%.

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.