Commerce Bank Lowers Position in Universal Display Co. (NASDAQ:OLED)

Commerce Bank cut its stake in shares of Universal Display Co. (NASDAQ:OLED) by 55.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,851 shares of the semiconductor company’s stock after selling 23,112 shares during the period. Commerce Bank’s holdings in Universal Display were worth $3,605,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Treasurer of the State of North Carolina lifted its position in Universal Display by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 20,516 shares of the semiconductor company’s stock valued at $3,221,000 after purchasing an additional 100 shares in the last quarter. CWM LLC raised its holdings in Universal Display by 21.0% during the fourth quarter. CWM LLC now owns 606 shares of the semiconductor company’s stock valued at $116,000 after acquiring an additional 105 shares during the period. Brown Advisory Inc. raised its holdings in Universal Display by 7.0% during the fourth quarter. Brown Advisory Inc. now owns 1,736 shares of the semiconductor company’s stock valued at $332,000 after acquiring an additional 114 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in Universal Display by 8.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,565 shares of the semiconductor company’s stock valued at $299,000 after acquiring an additional 117 shares during the period. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in Universal Display during the fourth quarter valued at about $25,000. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Universal Display news, SVP Mauro Premutico sold 8,202 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the sale, the senior vice president now directly owns 28,743 shares of the company’s stock, valued at $5,082,337.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Universal Display news, SVP Mauro Premutico sold 8,202 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the sale, the senior vice president now directly owns 28,743 shares of the company’s stock, valued at $5,082,337.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Julia J. Brown sold 10,358 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $175.00, for a total value of $1,812,650.00. Following the sale, the executive vice president now directly owns 56,624 shares in the company, valued at $9,909,200. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on OLED shares. Oppenheimer reissued an “outperform” rating and set a $200.00 price target (down from $210.00) on shares of Universal Display in a report on Friday, February 23rd. Needham & Company LLC reissued a “buy” rating and set a $198.00 price target on shares of Universal Display in a report on Friday, May 3rd. Finally, TD Cowen raised their price target on Universal Display from $165.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Universal Display currently has an average rating of “Moderate Buy” and an average target price of $199.86.

Universal Display Trading Up 1.3 %

Shares of OLED stock opened at $176.59 on Monday. Universal Display Co. has a 12-month low of $133.67 and a 12-month high of $194.84. The stock’s 50-day moving average price is $165.02 and its 200-day moving average price is $171.96. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 38.39, a price-to-earnings-growth ratio of 1.91 and a beta of 1.44.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.14. Universal Display had a return on equity of 15.57% and a net margin of 36.00%. The firm had revenue of $165.26 million for the quarter, compared to analysts’ expectations of $150.75 million. During the same period in the previous year, the firm posted $0.83 earnings per share. The business’s revenue was up 26.7% compared to the same quarter last year. As a group, research analysts predict that Universal Display Co. will post 4.76 EPS for the current fiscal year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 0.91%. Universal Display’s payout ratio is currently 34.78%.

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.