Clearstead Trust LLC Lowers Stake in Universal Display Co. (NASDAQ:OLED)

Clearstead Trust LLC cut its position in Universal Display Co. (NASDAQ:OLED) by 13.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,125 shares of the semiconductor company’s stock after selling 180 shares during the period. Clearstead Trust LLC’s holdings in Universal Display were worth $215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of OLED. Benjamin F. Edwards & Company Inc. bought a new position in shares of Universal Display during the fourth quarter worth $25,000. Orion Capital Management LLC bought a new position in shares of Universal Display during the 3rd quarter valued at about $31,000. Rise Advisors LLC purchased a new position in shares of Universal Display during the fourth quarter valued at about $57,000. SRS Capital Advisors Inc. increased its holdings in shares of Universal Display by 282.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 310 shares of the semiconductor company’s stock worth $59,000 after purchasing an additional 229 shares during the last quarter. Finally, GAMMA Investing LLC bought a new position in Universal Display during the fourth quarter valued at approximately $73,000. 78.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on OLED. Needham & Company LLC reaffirmed a “buy” rating and set a $198.00 price objective on shares of Universal Display in a report on Friday. Oppenheimer reaffirmed an “outperform” rating and set a $200.00 price target (down previously from $210.00) on shares of Universal Display in a research note on Friday, February 23rd. TD Cowen lifted their price objective on shares of Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Finally, Citigroup restated a “neutral” rating and issued a $180.00 target price (up from $161.00) on shares of Universal Display in a report on Friday, January 19th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.86.

Universal Display Trading Up 9.3 %

Shares of OLED stock traded up $14.50 during trading hours on Friday, reaching $170.82. 736,345 shares of the stock were exchanged, compared to its average volume of 256,763. The firm has a market capitalization of $8.10 billion, a price-to-earnings ratio of 37.13, a price-to-earnings-growth ratio of 1.86 and a beta of 1.44. Universal Display Co. has a 12-month low of $131.00 and a 12-month high of $194.84. The company’s 50-day moving average price is $163.28 and its 200-day moving average price is $169.05.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.14. The business had revenue of $165.26 million for the quarter, compared to analyst estimates of $150.75 million. Universal Display had a return on equity of 15.84% and a net margin of 36.00%. The business’s revenue was up 26.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 earnings per share. On average, sell-side analysts expect that Universal Display Co. will post 4.74 EPS for the current year.

Universal Display Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 0.94%. Universal Display’s dividend payout ratio is currently 34.78%.

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 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.