Universal Display Co. (NASDAQ:OLED) Stake Lowered by Avenir Corp

Avenir Corp cut its stake in shares of Universal Display Co. (NASDAQ:OLED) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 224,898 shares of the semiconductor company’s stock after selling 1,659 shares during the quarter. Universal Display makes up 3.7% of Avenir Corp’s portfolio, making the stock its 11th largest holding. Avenir Corp owned about 0.47% of Universal Display worth $43,014,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in OLED. Norges Bank bought a new position in Universal Display in the 4th quarter worth approximately $101,088,000. AEGON ASSET MANAGEMENT UK Plc bought a new position in Universal Display in the 4th quarter worth approximately $29,797,000. Albar Capital Ltd grew its holdings in Universal Display by 2,888.4% in the 3rd quarter. Albar Capital Ltd now owns 157,728 shares of the semiconductor company’s stock worth $24,762,000 after buying an additional 152,450 shares in the last quarter. TimesSquare Capital Management LLC grew its holdings in Universal Display by 327.5% in the 4th quarter. TimesSquare Capital Management LLC now owns 198,899 shares of the semiconductor company’s stock worth $38,041,000 after buying an additional 152,374 shares in the last quarter. Finally, FMR LLC grew its holdings in Universal Display by 10.6% in the 3rd quarter. FMR LLC now owns 1,398,961 shares of the semiconductor company’s stock worth $219,623,000 after buying an additional 134,000 shares in the last quarter. 78.19% of the stock is owned by institutional investors.

Insider Transactions at Universal Display

In other news, EVP Julia J. Brown sold 10,358 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 56,624 shares of the company’s stock, valued at $9,909,200. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Universal Display 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 transaction, the senior vice president now directly owns 28,743 shares in the company, valued at $5,082,337.26. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Julia J. Brown sold 10,358 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $175.00, for a total value of $1,812,650.00. Following the transaction, the executive vice president now owns 56,624 shares in the company, valued at $9,909,200. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Universal Display Price Performance

Shares of NASDAQ:OLED traded up $8.12 on Tuesday, reaching $194.16. 604,297 shares of the company traded hands, compared to its average volume of 286,777. Universal Display Co. has a fifty-two week low of $133.67 and a fifty-two week high of $194.98. The company’s 50 day moving average is $168.24 and its 200-day moving average is $173.40. The stock has a market capitalization of $9.21 billion, a PE ratio of 42.21, a P/E/G ratio of 1.98 and a beta of 1.47.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.14. The company had revenue of $165.26 million during the quarter, compared to the consensus estimate of $150.75 million. Universal Display had a return on equity of 15.57% and a net margin of 36.00%. The company’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.83 EPS. As a group, analysts expect that Universal Display Co. will post 4.75 EPS for the current year.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.82%. Universal Display’s dividend payout ratio (DPR) is presently 34.78%.

Analyst Upgrades and Downgrades

OLED has been the subject of a number of research reports. TD Cowen increased their price target on Universal Display from $165.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $200.00 price target (down from $210.00) on shares of Universal Display in a research note on Friday, February 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $198.00 price target on shares of Universal Display in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Universal Display currently has an average rating of “Moderate Buy” and an average target price of $199.86.

Universal Display Company 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.