Citigroup Inc. Sells 6,238 Shares of Universal Display Co. (NASDAQ:OLED)

Citigroup Inc. trimmed its holdings in shares of Universal Display Co. (NASDAQ:OLED – Get Rating) by 17.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,914 shares of the semiconductor company’s stock after selling 6,238 shares during the quarter. Citigroup Inc.’s holdings in Universal Display were worth $3,124,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in OLED. US Bancorp DE lifted its position in shares of Universal Display by 44.7% during the first quarter. US Bancorp DE now owns 2,947 shares of the semiconductor company’s stock worth $492,000 after purchasing an additional 911 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Universal Display by 2.0% during the first quarter. HighTower Advisors LLC now owns 9,647 shares of the semiconductor company’s stock worth $1,610,000 after purchasing an additional 189 shares during the last quarter. BlackRock Inc. lifted its position in shares of Universal Display by 2.8% during the first quarter. BlackRock Inc. now owns 4,309,400 shares of the semiconductor company’s stock worth $719,455,000 after purchasing an additional 117,055 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Universal Display by 8.4% during the first quarter. Great West Life Assurance Co. Can now owns 24,038 shares of the semiconductor company’s stock worth $4,121,000 after purchasing an additional 1,860 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its position in shares of Universal Display by 1.1% during the first quarter. Yousif Capital Management LLC now owns 22,569 shares of the semiconductor company’s stock worth $3,768,000 after purchasing an additional 239 shares during the last quarter. 73.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Universal Display

In other Universal Display news, Director Lawrence Lacerte sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $136.73, for a total value of $2,050,950.00. Following the completion of the sale, the director now directly owns 125,472 shares in the company, valued at approximately $17,155,786.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OLED. StockNews.com began coverage on Universal Display in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Citigroup raised their price target on Universal Display from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, February 27th. Deutsche Bank Aktiengesellschaft raised their price target on Universal Display from $130.00 to $150.00 in a research note on Thursday, February 16th. Needham & Company LLC restated a “buy” rating and set a $148.00 price target on shares of Universal Display in a research note on Friday, February 24th. Finally, Cowen raised their price target on Universal Display from $130.00 to $148.00 and gave the company an “outperform” rating in a research note on Friday, February 24th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Universal Display presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.90.

Universal Display Stock Up 0.9 %

Universal Display stock opened at $151.91 on Tuesday. Universal Display Co. has a 52 week low of $89.41 and a 52 week high of $155.91. The company has a market capitalization of $7.19 billion, a price-to-earnings ratio of 36.34, a price-to-earnings-growth ratio of 2.49 and a beta of 1.40. The stock has a 50-day moving average price of $143.49 and a 200 day moving average price of $129.11.

Universal Display (NASDAQ:OLED – Get Rating) last released its earnings results on Wednesday, May 3rd. The semiconductor company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. Universal Display had a return on equity of 16.15% and a net margin of 33.51%. The firm had revenue of $130.47 million during the quarter, compared to the consensus estimate of $135.19 million. During the same quarter in the previous year, the company posted $1.05 earnings per share. The company’s revenue was down 13.3% compared to the same quarter last year. Research analysts anticipate that Universal Display Co. will post 3.85 EPS for the current fiscal year.

Universal Display Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Thursday, June 15th. Universal Display’s payout ratio is 33.49%.

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.