Tower Research Capital LLC TRC Sells 6,499 Shares of Universal Display Co. (NASDAQ:OLED)

Tower Research Capital LLC TRC cut its stake in Universal Display Co. (NASDAQ:OLED – Get Rating) by 78.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,818 shares of the semiconductor company’s stock after selling 6,499 shares during the period. Tower Research Capital LLC TRC’s holdings in Universal Display were worth $172,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in OLED. Bank of Montreal Can lifted its stake in Universal Display by 316.4% in the third quarter. Bank of Montreal Can now owns 28,225 shares of the semiconductor company’s stock worth $2,794,000 after acquiring an additional 21,447 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in Universal Display in the third quarter worth about $9,437,000. Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in shares of Universal Display during the third quarter valued at about $7,952,000. Amalgamated Bank lifted its position in shares of Universal Display by 2.2% during the third quarter. Amalgamated Bank now owns 33,079 shares of the semiconductor company’s stock valued at $3,121,000 after buying an additional 708 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Universal Display by 2.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,116 shares of the semiconductor company’s stock valued at $1,332,000 after buying an additional 340 shares during the last quarter. 73.43% of the stock is currently owned by institutional investors.

Universal Display Stock Down 1.4 %

Shares of Universal Display stock opened at $138.65 on Wednesday. The firm has a market capitalization of $6.55 billion, a P/E ratio of 31.51, a PEG ratio of 2.42 and a beta of 1.44. The company has a 50 day moving average price of $128.47 and a 200 day moving average price of $113.32. Universal Display Co. has a 52 week low of $89.41 and a 52 week high of $176.41.

Universal Display (NASDAQ:OLED – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The semiconductor company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.43. Universal Display had a net margin of 34.07% and a return on equity of 17.56%. The company had revenue of $169.00 million for the quarter, compared to the consensus estimate of $148.97 million. During the same quarter in the prior year, the company earned $0.96 EPS. Universal Display’s quarterly revenue was up 15.6% on a year-over-year basis. As a group, research analysts anticipate that Universal Display Co. will post 3.76 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Thursday, March 16th. This is an increase from Universal Display’s previous quarterly dividend of $0.30. Universal Display’s dividend payout ratio is 31.82%.

Analysts Set New Price Targets

Several research firms have commented on OLED. Susquehanna raised shares of Universal Display from a “negative” rating to a “neutral” rating and increased their price target for the company from $82.00 to $135.00 in a research report on Thursday, January 19th. Oppenheimer increased their price target on shares of Universal Display from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, February 24th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Universal Display from $130.00 to $150.00 in a research report on Thursday, February 16th. Cowen increased their price target on shares of Universal Display from $130.00 to $148.00 and gave the company an “outperform” rating in a research report on Friday, February 24th. Finally, Needham & Company LLC reissued a “buy” rating and set a $148.00 price target on shares of Universal Display in a research report on Friday, February 24th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Universal Display currently has an average rating of “Moderate Buy” and a consensus target price of $146.90.

Universal Display Profile

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Universal Display Corp. engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials. It also develops and licenses proprietary OLED technologies to manufacturers of products for display applications, such as cell phones, portable media devices, tablets, laptop computers and televisions, and specialty and general lighting products.