Universal Display Co. (NASDAQ:OLED) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 48.4% in the 4th quarter, Holdings Channel reports. The firm owned 142,330 shares of the semiconductor company’s stock after selling 133,265 shares during the period. Wellington Management Group LLP’s holdings in Universal Display were worth $20,809,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Universal Display in the fourth quarter valued at $95,924,000. Raymond James Financial Inc. acquired a new stake in shares of Universal Display during the fourth quarter worth $41,504,000. Jennison Associates LLC lifted its holdings in shares of Universal Display by 58.2% during the fourth quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock valued at $99,975,000 after purchasing an additional 251,557 shares during the last quarter. Barclays PLC boosted its position in shares of Universal Display by 753.8% in the 3rd quarter. Barclays PLC now owns 212,518 shares of the semiconductor company’s stock valued at $44,608,000 after purchasing an additional 187,627 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Universal Display by 95.1% in 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. 78.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OLED. The Goldman Sachs Group reduced their price objective 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. Needham & Company LLC reduced their price target on shares of Universal Display from $215.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Citigroup lowered their price objective on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. StockNews.com raised shares of Universal Display from a “sell” rating to a “hold” rating in a research note on Friday, March 21st. Finally, Roth Mkm raised their target price on Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $190.43.

Universal Display Stock Down 0.5 %

OLED stock opened at $112.84 on Tuesday. The company has a 50 day moving average of $146.77 and a two-hundred day moving average of $164.48. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 1.61 and a beta of 1.42. Universal Display Co. has a 12-month low of $104.90 and a 12-month high of $237.00.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $152.75 million. On average, research analysts anticipate that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.60%. 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 payout ratio is currently 38.71%.

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.