Envestnet Asset Management Inc. Decreases Holdings in Universal Display Co. (NASDAQ:OLED)

Envestnet Asset Management Inc. decreased its stake in Universal Display Co. (NASDAQ:OLED) by 7.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 198,519 shares of the semiconductor company’s stock after selling 15,150 shares during the period. Envestnet Asset Management Inc.’s holdings in Universal Display were worth $29,023,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its stake in Universal Display by 20.6% in the third quarter. HighTower Advisors LLC now owns 6,132 shares of the semiconductor company’s stock valued at $1,287,000 after purchasing an additional 1,048 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Universal Display by 2.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 6,721 shares of the semiconductor company’s stock valued at $1,411,000 after buying an additional 171 shares during the last quarter. MML Investors Services LLC lifted its position in shares of Universal Display by 208.8% during the 3rd quarter. MML Investors Services LLC now owns 4,008 shares of the semiconductor company’s stock valued at $841,000 after buying an additional 2,710 shares during the last quarter. Barclays PLC grew its stake in shares of Universal Display by 753.8% during the 3rd quarter. Barclays PLC now owns 212,518 shares of the semiconductor company’s stock worth $44,608,000 after acquiring an additional 187,627 shares during the period. Finally, M&T Bank Corp increased its holdings in Universal Display by 12.0% in the 3rd quarter. M&T Bank Corp now owns 2,086 shares of the semiconductor company’s stock worth $438,000 after acquiring an additional 223 shares during the last quarter. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Universal Display Stock Performance

Universal Display stock opened at $112.72 on Friday. The stock has a market cap of $5.35 billion, a P/E ratio of 24.24, a PEG ratio of 1.61 and a beta of 1.42. Universal Display Co. has a fifty-two week low of $103.70 and a fifty-two week high of $237.00. The firm’s fifty day moving average price is $142.83 and its 200-day moving average price is $161.07.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share for the quarter, beating 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 firm had revenue of $162.29 million for the quarter, compared to analysts’ expectations of $152.75 million. Sell-side analysts predict that Universal Display Co. will post 4.71 earnings per share for the current year.

Universal Display Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Monday, March 17th. This is a boost from Universal Display’s previous quarterly dividend of $0.40. Universal Display’s payout ratio is currently 38.71%.

Analysts Set New Price Targets

OLED has been the subject of a number of research reports. Needham & Company LLC cut their target price 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. StockNews.com downgraded shares of Universal Display from a “hold” rating to a “sell” rating in a report on Friday. The Goldman Sachs Group lowered their target price on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Roth Mkm raised their price target on Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Susquehanna decreased their price objective on Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Universal Display has a consensus rating of “Moderate Buy” and an average target price of $190.43.

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.