Russell Investments Group Ltd. Decreases Stake in Universal Display Co. (NASDAQ:OLED)

Russell Investments Group Ltd. lessened its stake in Universal Display Co. (NASDAQ:OLEDGet Rating) by 9.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,230 shares of the semiconductor company’s stock after selling 1,409 shares during the quarter. Russell Investments Group Ltd.’s holdings in Universal Display were worth $2,374,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. CWM LLC raised its stake in shares of Universal Display by 53.0% in the 1st quarter. CWM LLC now owns 387 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 134 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Universal Display by 1.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,641 shares of the semiconductor company’s stock valued at $2,277,000 after purchasing an additional 188 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Universal Display by 2.2% in the 4th quarter. Rhumbline Advisers now owns 113,793 shares of the semiconductor company’s stock valued at $18,779,000 after purchasing an additional 2,403 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Universal Display by 1,828.0% in the 4th quarter. Bank of Montreal Can now owns 98,677 shares of the semiconductor company’s stock valued at $16,388,000 after purchasing an additional 93,559 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Universal Display in the 4th quarter valued at about $10,187,000. Institutional investors and hedge funds own 71.15% of the company’s stock.

Wall Street Analyst Weigh In

OLED has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut their target price on shares of Universal Display from $225.00 to $192.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Universal Display from $180.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, August 1st. Cowen dropped their price objective on shares of Universal Display from $175.00 to $145.00 in a research note on Friday, August 5th. Cowen dropped their price objective on shares of Universal Display from $175.00 to $145.00 in a research note on Friday, August 5th. Finally, Needham & Company LLC dropped their price objective on shares of Universal Display from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, July 26th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.30.

Insider Activity

In other news, Director Lawrence Lacerte sold 10,366 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $115.21, for a total value of $1,194,266.86. Following the completion of the transaction, the director now directly owns 190,366 shares in the company, valued at $21,932,066.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.70% of the company’s stock.

Universal Display Trading Up 3.6 %

Shares of NASDAQ:OLED opened at $126.15 on Monday. The firm’s 50 day moving average is $112.92 and its two-hundred day moving average is $133.62. The firm has a market capitalization of $5.96 billion, a P/E ratio of 32.77, a PEG ratio of 1.50 and a beta of 1.46. Universal Display Co. has a 52 week low of $98.71 and a 52 week high of $211.99.

Universal Display (NASDAQ:OLEDGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.10). The company had revenue of $136.60 million during the quarter, compared to the consensus estimate of $151.21 million. Universal Display had a net margin of 31.80% and a return on equity of 16.55%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $0.85 earnings per share. Analysts predict that Universal Display Co. will post 4.07 EPS for the current year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, September 15th. Universal Display’s dividend payout ratio (DPR) is presently 31.17%.

Universal Display Profile

(Get Rating)

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. It owns, exclusively licenses, or has sole rights to sublicense approximately 5,500 issued and pending patents worldwide.

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