Sigma Planning Corp Reduces Position in Universal Display Co. (NASDAQ:OLED)

Sigma Planning Corp cut its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 58.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,531 shares of the semiconductor company’s stock after selling 4,907 shares during the period. Sigma Planning Corp’s holdings in Universal Display were worth $675,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Orion Capital Management LLC bought a new position in Universal Display in the third quarter valued at about $31,000. Rise Advisors LLC bought a new position in Universal Display in the fourth quarter valued at about $57,000. Fifth Third Bancorp lifted its holdings in Universal Display by 22.5% in the third quarter. Fifth Third Bancorp now owns 593 shares of the semiconductor company’s stock valued at $93,000 after acquiring an additional 109 shares during the period. CWM LLC lifted its holdings in Universal Display by 21.0% in 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. Finally, Nisa Investment Advisors LLC lifted its holdings in Universal Display by 47.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 933 shares of the semiconductor company’s stock valued at $178,000 after acquiring an additional 300 shares during the period. 78.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on OLED shares. Oppenheimer reissued an “outperform” rating and issued a $200.00 target price (down previously from $210.00) on shares of Universal Display in a report on Friday, February 23rd. Citigroup reissued a “neutral” rating and issued a $180.00 target price (up previously from $161.00) on shares of Universal Display in a report on Friday, January 19th. Needham & Company LLC reissued a “buy” rating and issued a $198.00 target price on shares of Universal Display in a report on Tuesday, March 26th. Finally, TD Cowen raised their price objective on Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Universal Display currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.86.

Universal Display Stock Up 1.7 %

NASDAQ OLED opened at $156.44 on Thursday. The stock’s 50-day moving average price is $167.08 and its 200-day moving average price is $169.27. The company has a market capitalization of $7.41 billion, a P/E ratio of 36.90, a price-to-earnings-growth ratio of 1.68 and a beta of 1.45. Universal Display Co. has a 52 week low of $125.98 and a 52 week high of $194.84.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, February 22nd. The semiconductor company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.11. The company had revenue of $158.32 million for the quarter, compared to the consensus estimate of $161.08 million. Universal Display had a return on equity of 14.85% and a net margin of 35.22%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $1.36 EPS. Research analysts anticipate that Universal Display Co. will post 4.72 EPS for the current year.

Universal Display Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Universal Display’s previous quarterly dividend of $0.35. Universal Display’s dividend payout ratio (DPR) is 37.74%.

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.