Prudential Financial Inc. Sells 2,901 Shares of Universal Display Co. (NASDAQ:OLED)

Prudential Financial Inc. trimmed its stake in Universal Display Co. (NASDAQ:OLED) by 40.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 4,338 shares of the semiconductor company’s stock after selling 2,901 shares during the quarter. Prudential Financial Inc.’s holdings in Universal Display were worth $965,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Berman Capital Advisors LLC raised its position in shares of Universal Display by 242.9% in the 2nd quarter. Berman Capital Advisors LLC now owns 120 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 85 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Universal Display by 1,966.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after buying an additional 118 shares during the last quarter. Strategic Blueprint LLC purchased a new position in Universal Display during the 2nd quarter worth $36,000. O Shaughnessy Asset Management LLC grew its stake in Universal Display by 160.7% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 232 shares of the semiconductor company’s stock worth $52,000 after buying an additional 143 shares during the last quarter. Finally, McCarthy Asset Management Inc. purchased a new position in Universal Display during the 2nd quarter worth $53,000. 69.31% of the stock is owned by hedge funds and other institutional investors.

OLED has been the topic of several research analyst reports. Needham & Company LLC dropped their target price on Universal Display from $275.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, November 5th. Roth Capital dropped their target price on Universal Display from $258.00 to $238.00 and set a “buy” rating on the stock in a research note on Friday, November 5th. Deutsche Bank Aktiengesellschaft dropped their target price on Universal Display from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, November 5th. Cowen dropped their price target on Universal Display from $285.00 to $225.00 and set an “outperform” rating on the stock in a research note on Friday, November 5th. Finally, Oppenheimer dropped their price target on Universal Display from $275.00 to $225.00 and set an “outperform” rating on the stock in a research note on Friday, November 5th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Universal Display has an average rating of “Buy” and a consensus price target of $233.70.

NASDAQ OLED opened at $147.55 on Thursday. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of 36.61, a PEG ratio of 1.41 and a beta of 1.32. Universal Display Co. has a twelve month low of $144.38 and a twelve month high of $262.77. The stock has a 50-day moving average of $174.99 and a 200 day moving average of $198.74.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, November 4th. The semiconductor company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.12). The business had revenue of $143.62 million during the quarter, compared to analyst estimates of $145.26 million. Universal Display had a return on equity of 19.75% and a net margin of 35.03%. The business’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. As a group, equities analysts anticipate that Universal Display Co. will post 3.82 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 30th. Investors of record on Thursday, December 16th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, December 15th. This represents a $0.80 dividend on an annualized basis and a yield of 0.54%. Universal Display’s payout ratio is 19.85%.

Universal Display Company Profile

Universal Display Corp. engages in research, development, and commercialization of organic light emitting diode (OLED) technologies, and materials. It also develops and licenses proprietary OLED technologies to manufacturers of products for display applications, such as cell phones; portable media devices; tablets; laptop computers and televisions; and specialty and general lighting products.

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Institutional Ownership by Quarter for Universal Display (NASDAQ:OLED)

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