Wells Fargo & Company MN Reduces Stock Position in Universal Display Co. (NASDAQ:OLED)

Wells Fargo & Company MN decreased its stake in Universal Display Co. (NASDAQ:OLED - Free Report) by 8.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 404,042 shares of the semiconductor company's stock after selling 37,398 shares during the period. Wells Fargo & Company MN owned approximately 0.85% of Universal Display worth $59,071,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its position in shares of Universal Display by 37.2% in the 4th quarter. Pacer Advisors Inc. now owns 27,246 shares of the semiconductor company's stock worth $3,983,000 after buying an additional 7,390 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Universal Display by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 341,019 shares of the semiconductor company's stock valued at $49,857,000 after purchasing an additional 7,147 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Universal Display by 95.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 189,603 shares of the semiconductor company's stock worth $27,720,000 after purchasing an additional 92,410 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of Universal Display during the 4th quarter worth approximately $462,000. Finally, Sanctuary Advisors LLC purchased a new stake in Universal Display in the 3rd quarter valued at approximately $2,356,000. Hedge funds and other institutional investors own 78.19% of the company's stock.

Universal Display Stock Performance

Shares of NASDAQ:OLED traded up $4.76 during midday trading on Monday, hitting $117.48. 99,510 shares of the company's stock traded hands, compared to its average volume of 547,475. Universal Display Co. has a twelve month low of $103.70 and a twelve month high of $237.00. The company has a market cap of $5.58 billion, a PE ratio of 25.26, a P/E/G ratio of 1.61 and a beta of 1.42. The firm's fifty day moving average price is $142.83 and its two-hundred day moving average price is $160.75.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.08 by $0.14. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The business had revenue of $162.29 million for the quarter, compared to the consensus estimate of $152.75 million. As a group, equities research analysts anticipate that Universal Display Co. will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.53%. This is a positive change from Universal Display's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, March 17th. Universal Display's dividend payout ratio (DPR) is presently 38.71%.

Wall Street Analysts Forecast Growth

OLED has been the topic of a number of analyst reports. Susquehanna decreased their price objective on Universal Display from $165.00 to $160.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Oppenheimer reduced 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. The Goldman Sachs Group lowered their target price on shares of Universal Display from $234.00 to $203.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Citigroup lowered their price objective on Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a research report on Monday, February 10th. Finally, StockNews.com downgraded Universal Display from a "hold" rating to a "sell" rating in a research report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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.