Universal Display Co. (NASDAQ:OLED) Shares Sold by Ethic Inc.

Ethic Inc. cut its position in shares of Universal Display Co. (NASDAQ:OLED) by 18.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,203 shares of the semiconductor company’s stock after selling 937 shares during the period. Ethic Inc.’s holdings in Universal Display were worth $614,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its stake in Universal Display by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,473 shares of the semiconductor company’s stock worth $215,000 after acquiring an additional 73 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Universal Display by 5.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,615 shares of the semiconductor company’s stock worth $245,000 after acquiring an additional 85 shares during the last quarter. Arizona State Retirement System increased its stake in Universal Display by 0.7% during the fourth quarter. Arizona State Retirement System now owns 13,065 shares of the semiconductor company’s stock worth $1,910,000 after acquiring an additional 88 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Universal Display by 0.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,091 shares of the semiconductor company’s stock worth $1,475,000 after acquiring an additional 90 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in Universal Display by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the semiconductor company’s stock worth $1,798,000 after acquiring an additional 100 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Trading Down 0.3%

Shares of NASDAQ:OLED opened at $154.04 on Thursday. Universal Display Co. has a 1 year low of $103.70 and a 1 year high of $237.00. The business has a fifty day simple moving average of $134.61 and a 200 day simple moving average of $149.51. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 33.13, a P/E/G ratio of 1.61 and a beta of 1.46.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, May 1st. The semiconductor company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.28. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The business had revenue of $166.28 million for the quarter, compared to analyst estimates of $154.76 million. During the same period in the previous year, the company posted $1.19 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. On average, sell-side analysts forecast that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Monday, June 16th. Universal Display’s payout ratio is 37.42%.

Wall Street Analyst Weigh In

OLED has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $170.00 target price on shares of Universal Display in a research report on Friday, May 2nd. Susquehanna decreased their target price on Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. The Goldman Sachs Group decreased their target price on Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. StockNews.com raised Universal Display from a “sell” rating to a “hold” rating in a research report on Friday, May 2nd. Finally, Citigroup decreased their target price on Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $190.43.

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.