Handelsbanken Fonder AB Sells 21,842 Shares of Universal Display Co. (NASDAQ:OLED)

Handelsbanken Fonder AB decreased its holdings in shares of Universal Display Co. (NASDAQ:OLED - Free Report) by 10.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 182,278 shares of the semiconductor company's stock after selling 21,842 shares during the period. Handelsbanken Fonder AB owned about 0.38% of Universal Display worth $26,649,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in OLED. Jennison Associates LLC lifted its position 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 buying an additional 251,557 shares during the period. Citigroup Inc. lifted its holdings in shares of Universal Display by 1,387.6% during the third quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company's stock valued at $54,936,000 after acquiring an additional 244,129 shares during the period. Barclays PLC boosted its stake in shares of Universal Display by 753.8% in the 3rd quarter. Barclays PLC now owns 212,518 shares of the semiconductor company's stock valued at $44,608,000 after purchasing an additional 187,627 shares in the last quarter. Southpoint Capital Advisors LP grew its holdings in shares of Universal Display by 46.0% in the 3rd quarter. Southpoint Capital Advisors LP now owns 365,000 shares of the semiconductor company's stock worth $76,614,000 after purchasing an additional 115,000 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Universal Display by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company's stock worth $101,914,000 after purchasing an additional 108,394 shares in the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Price Performance

Shares of NASDAQ OLED traded up $9.96 during midday trading on Friday, hitting $157.30. The stock had a trading volume of 2,034,691 shares, compared to its average volume of 724,867. Universal Display Co. has a fifty-two week low of $140.17 and a fifty-two week high of $237.00. The firm has a market cap of $7.47 billion, a P/E ratio of 31.59, a price-to-earnings-growth ratio of 1.60 and a beta of 1.39. The company's 50-day simple moving average is $148.52 and its 200 day simple moving average is $173.82.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.14. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The firm had revenue of $162.29 million during the quarter, compared to analyst estimates of $152.75 million. Equities analysts expect that Universal Display Co. will post 4.77 EPS for the current fiscal year.

Universal Display Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.14%. This is an increase from Universal Display's previous quarterly dividend of $0.40. The ex-dividend date is Monday, March 17th. Universal Display's payout ratio is 32.13%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on OLED shares. Oppenheimer decreased their price objective on shares of Universal Display from $220.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday, January 2nd. Citigroup dropped their price target on Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a report on Monday, February 10th. Needham & Company LLC reduced their price objective on Universal Display from $215.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday. Susquehanna lowered their target price on Universal Display from $165.00 to $160.00 and set a "neutral" rating for the company in a research note on Friday. Finally, TD Cowen cut their price target on Universal Display from $250.00 to $225.00 and set a "buy" rating for the company in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.