Universal Display Corporation $OLED Shares Sold by Erste Asset Management GmbH

Erste Asset Management GmbH trimmed its position in Universal Display Corporation (NASDAQ:OLED) by 36.4% in the fourth quarter, Holdings Channel reports. The firm owned 15,256 shares of the semiconductor company’s stock after selling 8,727 shares during the quarter. Erste Asset Management GmbH’s holdings in Universal Display were worth $1,819,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Universal Display by 10.0% in the third quarter. Vanguard Group Inc. now owns 5,069,107 shares of the semiconductor company’s stock worth $728,076,000 after purchasing an additional 460,792 shares in the last quarter. Primecap Management Co. CA grew its stake in Universal Display by 1.9% in the third quarter. Primecap Management Co. CA now owns 2,258,378 shares of the semiconductor company’s stock worth $324,371,000 after purchasing an additional 43,070 shares in the last quarter. Geode Capital Management LLC grew its stake in Universal Display by 25.0% in the fourth quarter. Geode Capital Management LLC now owns 1,109,077 shares of the semiconductor company’s stock worth $129,537,000 after purchasing an additional 222,108 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Universal Display by 86.4% in the fourth quarter. JPMorgan Chase & Co. now owns 880,678 shares of the semiconductor company’s stock worth $102,846,000 after purchasing an additional 408,315 shares in the last quarter. Finally, Norges Bank acquired a new position in Universal Display in the fourth quarter worth about $92,756,000. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OLED has been the subject of a number of research reports. Roth Mkm set a $168.00 target price on Universal Display in a research note on Friday, May 1st. The Goldman Sachs Group set a $135.00 target price on Universal Display in a research note on Tuesday, April 21st. Weiss Ratings restated a “hold (c-)” rating on shares of Universal Display in a research note on Monday, March 23rd. Citigroup decreased their target price on Universal Display from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Finally, Needham & Company LLC decreased their target price on Universal Display from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Universal Display presently has an average rating of “Hold” and a consensus price target of $130.60.

Universal Display Stock Up 0.6%

Shares of OLED stock opened at $89.32 on Wednesday. The business has a 50 day moving average of $93.17 and a two-hundred day moving average of $106.58. Universal Display Corporation has a 52 week low of $83.64 and a 52 week high of $163.21. The company has a market cap of $4.18 billion, a P/E ratio of 19.94 and a beta of 1.54.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.37). The business had revenue of $142.21 million for the quarter, compared to the consensus estimate of $161.23 million. Universal Display had a net margin of 34.08% and a return on equity of 12.34%. The business’s quarterly revenue was down 14.5% on a year-over-year basis. During the same period last year, the firm posted $1.35 EPS. Analysts expect that Universal Display Corporation will post 4.23 EPS for the current fiscal year.

Universal Display Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, June 16th. Universal Display’s payout ratio is 44.64%.

Universal Display Profile

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.