Citigroup Inc. Has $18.49 Million Position in Universal Display Co. (NASDAQ:OLED)

Citigroup Inc. lowered its stake in shares of Universal Display Co. (NASDAQ:OLEDGet Rating) by 15.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 112,052 shares of the semiconductor company’s stock after selling 21,059 shares during the period. Citigroup Inc. owned about 0.24% of Universal Display worth $18,491,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of OLED. US Bancorp DE lifted its stake in shares of Universal Display by 4.7% in the 3rd quarter. US Bancorp DE now owns 1,616 shares of the semiconductor company’s stock valued at $276,000 after purchasing an additional 73 shares during the last quarter. Cetera Advisor Networks LLC lifted its stake in shares of Universal Display by 7.3% in the 3rd quarter. Cetera Advisor Networks LLC now owns 1,221 shares of the semiconductor company’s stock valued at $209,000 after purchasing an additional 83 shares during the last quarter. State of Michigan Retirement System lifted its stake in shares of Universal Display by 0.9% in the 4th quarter. State of Michigan Retirement System now owns 10,998 shares of the semiconductor company’s stock valued at $1,815,000 after purchasing an additional 100 shares during the last quarter. Securian Asset Management Inc. lifted its stake in shares of Universal Display by 2.6% in the 4th quarter. Securian Asset Management Inc. now owns 3,943 shares of the semiconductor company’s stock valued at $651,000 after purchasing an additional 100 shares during the last quarter. Finally, Alpine Woods Capital Investors LLC lifted its stake in shares of Universal Display by 0.8% in the 4th quarter. Alpine Woods Capital Investors LLC now owns 13,471 shares of the semiconductor company’s stock valued at $2,223,000 after purchasing an additional 101 shares during the last quarter. 71.15% of the stock is owned by institutional investors.

Several equities research analysts recently issued reports on OLED shares. Needham & Company LLC reduced their price objective on shares of Universal Display from $195.00 to $165.00 in a research note on Friday, May 6th. StockNews.com began coverage on shares of Universal Display in a research report on Thursday, March 31st. They set a “hold” rating for the company. Oppenheimer cut their target price on shares of Universal Display from $225.00 to $210.00 in a research report on Thursday, February 24th. Cowen cut their target price on shares of Universal Display from $225.00 to $175.00 in a research report on Thursday, February 24th. Finally, Citigroup cut their target price on shares of Universal Display from $248.00 to $188.00 in a research report on Thursday, February 3rd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Universal Display has an average rating of “Buy” and a consensus price target of $204.89.

NASDAQ:OLED opened at $128.02 on Wednesday. The firm’s 50-day moving average is $147.85 and its 200-day moving average is $153.16. Universal Display Co. has a 52-week low of $114.27 and a 52-week high of $237.00. The company has a market cap of $6.04 billion, a price-to-earnings ratio of 33.43, a PEG ratio of 1.19 and a beta of 1.42.

Universal Display (NASDAQ:OLEDGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The semiconductor company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.10. The company had revenue of $150.50 million for the quarter, compared to the consensus estimate of $143.81 million. Universal Display had a net margin of 32.02% and a return on equity of 17.14%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.08 EPS. As a group, research analysts forecast that Universal Display Co. will post 4.56 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 16th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, June 15th. This represents a $1.20 dividend on an annualized basis and a yield of 0.94%. Universal Display’s payout ratio is currently 31.33%.

About Universal Display (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.

See Also

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

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