Kornitzer Capital Management Inc. KS Sells 9,355 Shares of Universal Display Co. (NASDAQ:OLED)

Kornitzer Capital Management Inc. KS decreased its position in Universal Display Co. (NASDAQ:OLED - Free Report) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 85,532 shares of the semiconductor company's stock after selling 9,355 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.18% of Universal Display worth $12,505,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. bought a new position in shares of Universal Display in the 3rd quarter worth approximately $29,000. Brooklyn Investment Group purchased a new stake in Universal Display during the third quarter valued at approximately $30,000. V Square Quantitative Management LLC bought a new position in Universal Display in the third quarter worth approximately $31,000. True Wealth Design LLC purchased a new position in shares of Universal Display during the 3rd quarter worth $36,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Universal Display by 60.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company's stock valued at $36,000 after acquiring an additional 65 shares during the period. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Stock Up 6.8 %

NASDAQ OLED traded up $9.96 during trading hours on Friday, reaching $157.30. The company's stock had a trading volume of 2,034,691 shares, compared to its average volume of 724,867. Universal Display Co. has a 1 year low of $140.17 and a 1 year high of $237.00. The company has a market capitalization of $7.47 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.60 and a beta of 1.39. The firm's 50-day moving average price is $148.41 and its 200-day moving average price is $173.75.

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

Universal Display Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.45 per share. This is a positive change from Universal Display's previous quarterly dividend of $0.40. The ex-dividend date is Monday, March 17th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.14%. Universal Display's dividend payout ratio (DPR) is presently 32.13%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. The Goldman Sachs Group decreased their target price on Universal Display from $234.00 to $203.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. TD Cowen lowered their price objective on Universal Display from $250.00 to $225.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. Oppenheimer reduced their target price on shares of Universal Display from $220.00 to $200.00 and set an "outperform" rating for the company in a report on Thursday, January 2nd. Susquehanna lowered their price target on shares of Universal Display from $165.00 to $160.00 and set a "neutral" rating on the stock in a report on Friday. Finally, Citigroup reduced their price objective 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. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $190.43.

Universal Display 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.