Universal Display Co. (NASDAQ:OLED) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its position in shares of Universal Display Co. (NASDAQ:OLED) by 93.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,400 shares of the semiconductor company’s stock after selling 169,878 shares during the period. Handelsbanken Fonder AB’s holdings in Universal Display were worth $1,730,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC raised its holdings in shares of Universal Display by 65.6% in the 1st quarter. SG Americas Securities LLC now owns 6,492 shares of the semiconductor company’s stock worth $906,000 after buying an additional 2,572 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Universal Display by 134.1% during the first quarter. GAMMA Investing LLC now owns 962 shares of the semiconductor company’s stock worth $134,000 after acquiring an additional 551 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Universal Display by 5.4% during the first quarter. Harbor Capital Advisors Inc. now owns 9,287 shares of the semiconductor company’s stock worth $1,295,000 after acquiring an additional 475 shares in the last quarter. Portside Wealth Group LLC acquired a new stake in shares of Universal Display in the 1st quarter valued at about $240,000. Finally, First Citizens Bank & Trust Co. increased its position in shares of Universal Display by 18.7% in the first quarter. First Citizens Bank & Trust Co. now owns 1,773 shares of the semiconductor company’s stock valued at $247,000 after acquiring an additional 279 shares during the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on OLED shares. Wall Street Zen upgraded Universal Display from a “sell” rating to a “hold” rating in a report on Friday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $170.00 price target on shares of Universal Display in a research report on Friday, May 2nd. Roth Mkm raised their price target on shares of Universal Display from $207.00 to $213.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Susquehanna dropped their target price on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Universal Display currently has an average rating of “Moderate Buy” and an average target price of $190.43.

Universal Display Stock Down 3.5%

Universal Display stock opened at $153.52 on Friday. The business has a fifty day moving average of $137.93 and a two-hundred day moving average of $145.31. The firm has a market cap of $7.30 billion, a P/E ratio of 33.02, a P/E/G ratio of 1.61 and a beta of 1.50. Universal Display Co. has a twelve month low of $103.70 and a twelve month high of $237.00.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, May 1st. The semiconductor company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.28. The company had revenue of $166.28 million during the quarter, compared to the consensus estimate of $154.76 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. Universal Display’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.19 EPS. Equities analysts expect that Universal Display Co. will post 4.71 earnings per share for the current year.

Universal Display Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.17%. Universal Display’s dividend payout ratio (DPR) is 37.42%.

About Universal Display

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.