Commonwealth Equity Services LLC Reduces Stake in Universal Display Co. (NASDAQ:OLED)

Commonwealth Equity Services LLC lessened its stake in Universal Display Co. (NASDAQ:OLED) by 19.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,540 shares of the semiconductor company’s stock after selling 3,089 shares during the period. Commonwealth Equity Services LLC’s holdings in Universal Display were worth $2,112,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Universal Display during the 4th quarter worth approximately $25,000. Orion Capital Management LLC acquired a new position in shares of Universal Display during the 3rd quarter worth approximately $31,000. Principal Securities Inc. acquired a new position in shares of Universal Display during the 4th quarter worth approximately $34,000. Tsfg LLC acquired a new position in shares of Universal Display during the 1st quarter worth approximately $34,000. Finally, University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Universal Display during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Oppenheimer upped their target price on Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday. Needham & Company LLC increased their price objective on Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Universal Display presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.29.

Insider Activity

In other news, EVP Julia J. Brown sold 10,358 shares of Universal Display stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $175.00, for a total value of $1,812,650.00. Following the completion of the transaction, the executive vice president now owns 56,624 shares in the company, valued at approximately $9,909,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Mauro Premutico sold 8,202 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the sale, the senior vice president now owns 28,743 shares of the company’s stock, valued at approximately $5,082,337.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Julia J. Brown sold 10,358 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $175.00, for a total value of $1,812,650.00. Following the sale, the executive vice president now directly owns 56,624 shares in the company, valued at approximately $9,909,200. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Universal Display Trading Down 0.2 %

Universal Display stock traded down $0.54 during midday trading on Friday, reaching $217.44. 97,908 shares of the stock traded hands, compared to its average volume of 297,514. The company has a 50-day simple moving average of $185.88 and a two-hundred day simple moving average of $177.50. Universal Display Co. has a 12-month low of $133.67 and a 12-month high of $220.10. The firm has a market cap of $10.32 billion, a PE ratio of 47.39, a price-to-earnings-growth ratio of 2.36 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.14. Universal Display had a return on equity of 15.57% and a net margin of 36.00%. The company had revenue of $165.26 million during the quarter, compared to analysts’ expectations of $150.75 million. During the same period last year, the business posted $0.83 EPS. Universal Display’s revenue for the quarter was up 26.7% on a year-over-year basis. Equities research analysts anticipate that Universal Display Co. will post 4.75 earnings per share for the current year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, June 14th. Universal Display’s payout ratio is presently 34.78%.

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.