Russell Investments Group Ltd. trimmed its position in shares of Universal Display Co. (NASDAQ:OLED - Free Report) by 16.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,902 shares of the semiconductor company's stock after selling 5,339 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.06% of Universal Display worth $3,933,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Universal Display by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 4,784,099 shares of the semiconductor company's stock worth $699,435,000 after buying an additional 67,590 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Universal Display by 12.8% in the fourth quarter. Geode Capital Management LLC now owns 901,315 shares of the semiconductor company's stock worth $131,806,000 after buying an additional 101,963 shares during the period. Jennison Associates LLC boosted its holdings in Universal Display by 58.2% during the 4th quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company's stock valued at $99,975,000 after acquiring an additional 251,557 shares during the period. Norges Bank bought a new position in Universal Display during the 4th quarter worth approximately $95,924,000. Finally, Bank of New York Mellon Corp lifted its position in Universal Display by 10.7% in the fourth quarter. Bank of New York Mellon Corp now owns 437,592 shares of the semiconductor company's stock valued at $63,976,000 after purchasing an additional 42,218 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. StockNews.com cut Universal Display from a "hold" rating to a "sell" rating in a research note on Friday, April 11th. The Goldman Sachs Group lowered their price target on Universal Display from $234.00 to $203.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Needham & Company LLC reduced their price target on shares of Universal Display from $215.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, February 21st. 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 research report on Friday, February 21st. Finally, Roth Mkm boosted their target price on shares of Universal Display from $207.00 to $213.00 and gave the stock a "buy" rating in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $190.43.
Read Our Latest Stock Analysis on OLED
Universal Display Stock Performance
Shares of NASDAQ OLED traded up $0.31 during midday trading on Friday, reaching $113.98. 458,108 shares of the stock were exchanged, compared to its average volume of 554,375. Universal Display Co. has a twelve month low of $103.70 and a twelve month high of $237.00. The stock has a market capitalization of $5.41 billion, a P/E ratio of 24.51, a PEG ratio of 1.61 and a beta of 1.42. The company has a 50 day simple moving average of $139.96 and a 200 day simple moving average of $158.22.
Universal Display (NASDAQ:OLED - Get Free Report) last posted its quarterly 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 company had revenue of $162.29 million during the quarter, compared to analysts' expectations of $152.75 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. On average, research analysts expect that Universal Display Co. will post 4.71 earnings per share for the current year.
Universal Display Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.45 per share. 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 1.58%. This is a boost from Universal Display's previous quarterly dividend of $0.40. Universal Display's dividend payout ratio is currently 38.71%.
About Universal Display
(
Free Report)
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.
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