Rhumbline Advisers lowered its stake in Universal Display Co. (NASDAQ:OLED) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,955 shares of the semiconductor company’s stock after selling 2,065 shares during the period. Rhumbline Advisers owned 0.10% of Universal Display worth $4,742,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of OLED. US Bancorp DE raised its holdings in shares of Universal Display by 4,188.2% in the fourth quarter. US Bancorp DE now owns 729 shares of the semiconductor company’s stock worth $126,000 after buying an additional 712 shares during the last quarter. Cerebellum GP LLC purchased a new position in shares of Universal Display in the fourth quarter worth $129,000. Aevitas Wealth Management Inc. purchased a new position in shares of Universal Display in the fourth quarter worth $165,000. Glassman Wealth Services raised its holdings in shares of Universal Display by 60.7% in the fourth quarter. Glassman Wealth Services now owns 961 shares of the semiconductor company’s stock worth $166,000 after buying an additional 363 shares during the last quarter. Finally, American International Group Inc. purchased a new position in shares of Universal Display in the fourth quarter worth $170,000. 65.34% of the stock is owned by institutional investors and hedge funds.
OLED has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Universal Display from a “hold” rating to a “sell” rating in a report on Tuesday, March 27th. Deutsche Bank reaffirmed a “buy” rating and issued a $190.00 price target on shares of Universal Display in a report on Thursday, January 25th. BidaskClub lowered shares of Universal Display from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 15th. Cowen set a $225.00 price objective on shares of Universal Display and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Finally, Roth Capital began coverage on shares of Universal Display in a research note on Monday. They issued a “buy” rating and a $136.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $174.36.
Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, May 3rd. The semiconductor company reported $0.13 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. The company had revenue of $43.57 million for the quarter, compared to analyst estimates of $50.85 million. Universal Display had a net margin of 30.74% and a return on equity of 17.53%. The firm’s revenue was down 21.6% on a year-over-year basis. During the same quarter last year, the business earned $0.22 earnings per share. research analysts forecast that Universal Display Co. will post 1.99 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.24 annualized dividend and a yield of 0.25%. Universal Display’s dividend payout ratio is presently 9.88%.
In related news, Director Elizabeth H. Gemmill sold 2,500 shares of the firm’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $124.07, for a total transaction of $310,175.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard C. Elias sold 2,250 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $129.60, for a total transaction of $291,600.00. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by company insiders.
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 flat panel displays and solid-state lighting applications. As of February 22, 2018, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 4,500 issued and pending patents worldwide.
Want to see what other hedge funds are holding OLED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Display Co. (NASDAQ:OLED).
Receive News & Ratings for Universal Display Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Display and related companies with MarketBeat.com's FREE daily email newsletter.