NewEdge Wealth LLC Has $2.06 Million Position in Universal Display Co. (NASDAQ:OLED)

NewEdge Wealth LLC reduced its stake in Universal Display Co. (NASDAQ:OLED - Free Report) by 32.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,117 shares of the semiconductor company's stock after selling 6,823 shares during the period. NewEdge Wealth LLC's holdings in Universal Display were worth $2,064,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OLED. State of Alaska Department of Revenue boosted its stake in Universal Display by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 5,072 shares of the semiconductor company's stock valued at $1,064,000 after acquiring an additional 345 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Universal Display by 60.2% during the third quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company's stock valued at $36,000 after buying an additional 65 shares during the last quarter. US Bancorp DE raised its holdings in shares of Universal Display by 43.9% during the third quarter. US Bancorp DE now owns 5,037 shares of the semiconductor company's stock valued at $1,057,000 after buying an additional 1,536 shares during the last quarter. Stephens Inc. AR bought a new stake in shares of Universal Display during the third quarter valued at approximately $249,000. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Universal Display by 625.9% during the third quarter. Janney Montgomery Scott LLC now owns 40,989 shares of the semiconductor company's stock valued at $8,604,000 after buying an additional 35,342 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on OLED shares. Oppenheimer dropped their target price on Universal Display from $220.00 to $200.00 and set an "outperform" rating on the stock in a report on Thursday, January 2nd. The Goldman Sachs Group dropped 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. Citigroup dropped their price target on Universal Display from $200.00 to $162.00 and set a "neutral" rating on the stock in a report on Monday, February 10th. Needham & Company LLC dropped their price target on Universal Display from $215.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, February 21st. Finally, Roth Mkm upped their price target on Universal Display from $207.00 to $213.00 and gave the company a "buy" rating in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $190.43.

Universal Display Price Performance

NASDAQ OLED traded up $3.91 on Wednesday, hitting $152.76. 547,549 shares of the stock were exchanged, compared to its average volume of 748,401. Universal Display Co. has a 52-week low of $140.17 and a 52-week high of $237.00. The company has a market capitalization of $7.25 billion, a price-to-earnings ratio of 32.85, a P/E/G ratio of 1.61 and a beta of 1.39. The company's 50-day moving average price is $148.55 and its two-hundred day moving average price is $172.73.

Universal Display (NASDAQ:OLED - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.14. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The firm had revenue of $162.29 million for the quarter, compared to analysts' expectations of $152.75 million. Equities analysts predict 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 will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.45 per share. This is a boost from Universal Display's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Monday, March 17th. Universal Display's payout ratio is currently 38.71%.

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.