Assenagon Asset Management S.A. Sells 3,186 Shares of Universal Display Co. (NASDAQ:OLED)

Assenagon Asset Management S.A. trimmed its holdings in shares of Universal Display Co. (NASDAQ:OLED - Free Report) by 22.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,768 shares of the semiconductor company's stock after selling 3,186 shares during the period. Assenagon Asset Management S.A.'s holdings in Universal Display were worth $2,260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. ORG Partners LLC acquired a new stake in Universal Display in the 1st quarter worth approximately $27,000. V Square Quantitative Management LLC acquired a new position in Universal Display in the 3rd quarter valued at $31,000. Geneos Wealth Management Inc. raised its holdings in Universal Display by 210.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 233 shares of the semiconductor company's stock worth $39,000 after acquiring an additional 158 shares during the period. Itau Unibanco Holding S.A. acquired a new position in Universal Display during the 2nd quarter worth $44,000. Finally, Tortoise Investment Management LLC acquired a new stake in shares of Universal Display in the second quarter valued at about $47,000. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Price Performance

Shares of Universal Display stock traded down $0.11 during trading on Friday, hitting $180.21. 515,442 shares of the company's stock traded hands, compared to its average volume of 368,663. The company has a market cap of $8.55 billion, a PE ratio of 36.21, a PEG ratio of 2.17 and a beta of 1.42. The firm's fifty day moving average price is $201.79 and its 200 day moving average price is $193.89. Universal Display Co. has a twelve month low of $138.60 and a twelve month high of $237.00.

Universal Display (NASDAQ:OLED - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.20. The company had revenue of $161.63 million for the quarter, compared to analyst estimates of $165.28 million. Universal Display had a return on equity of 16.01% and a net margin of 36.98%. The company's revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.08 EPS. As a group, equities research analysts anticipate that Universal Display Co. will post 4.81 earnings per share for the current year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, December 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.89%. Universal Display's payout ratio is presently 32.13%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on OLED shares. Needham & Company LLC cut their price objective on Universal Display from $242.00 to $215.00 and set a "buy" rating for the company in a research report on Thursday. The Goldman Sachs Group increased their price objective on Universal Display from $208.00 to $243.00 and gave the company a "buy" rating in a research report on Thursday, July 18th. Susquehanna boosted their target price on shares of Universal Display from $170.00 to $175.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. Oppenheimer reduced their price target on shares of Universal Display from $240.00 to $220.00 and set an "outperform" rating for the company in a report on Thursday. Finally, Roth Mkm boosted their price objective on shares of Universal Display from $189.00 to $217.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Universal Display presently has a consensus rating of "Moderate Buy" and an average price target of $215.63.

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.