Envestnet Asset Management Inc. Sells 15,150 Shares of Universal Display Co. (NASDAQ:OLED)

Envestnet Asset Management Inc. trimmed its holdings in shares of Universal Display Co. (NASDAQ:OLED - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 198,519 shares of the semiconductor company's stock after selling 15,150 shares during the period. Envestnet Asset Management Inc. owned about 0.42% of Universal Display worth $29,023,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank bought a new stake in shares of Universal Display in the 4th quarter valued at about $95,924,000. Raymond James Financial Inc. bought a new stake in Universal Display in the fourth quarter valued at approximately $41,504,000. Jennison Associates LLC boosted its stake in shares of Universal Display by 58.2% during the 4th quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company's stock worth $99,975,000 after acquiring an additional 251,557 shares during the period. Barclays PLC increased its holdings in shares of Universal Display by 753.8% during the 3rd quarter. Barclays PLC now owns 212,518 shares of the semiconductor company's stock worth $44,608,000 after acquiring an additional 187,627 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Universal Display by 12.8% in the 4th quarter. Geode Capital Management LLC now owns 901,315 shares of the semiconductor company's stock valued at $131,806,000 after acquiring an additional 101,963 shares during the period. Institutional investors and hedge funds own 78.19% of the company's stock.

Universal Display Stock Up 0.3 %

Shares of NASDAQ:OLED traded up $0.31 during midday trading on Friday, hitting $113.98. The stock had a trading volume of 458,108 shares, compared to its average volume of 552,975. The company has a market capitalization of $5.41 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company's 50-day moving average price is $140.53 and its 200-day moving average price is $158.84. Universal Display Co. has a fifty-two week low of $103.70 and a fifty-two week high of $237.00.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.14. The company had revenue of $162.29 million for the quarter, compared to analyst estimates of $152.75 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. 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 declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.45 per share. The ex-dividend date was Monday, March 17th. This is a positive change from Universal Display's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.58%. Universal Display's payout ratio is 38.71%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Susquehanna decreased their price objective 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. Oppenheimer lowered their price target on shares of Universal Display from $220.00 to $200.00 and set an "outperform" rating on the stock in a report on Thursday, January 2nd. Citigroup lowered their target price on Universal Display from $200.00 to $162.00 and set a "neutral" rating on the stock in a research note on Monday, February 10th. The Goldman Sachs Group decreased their price objective on Universal Display from $234.00 to $203.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Finally, StockNews.com downgraded Universal Display from a "hold" rating to a "sell" rating in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $190.43.

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.