PFG Investments LLC Cuts Stock Position in Universal Display Corporation (NASDAQ:OLED)

PFG Investments LLC lessened its stake in Universal Display Corporation (NASDAQ:OLED) by 24.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,022 shares of the semiconductor company’s stock after selling 3,566 shares during the period. PFG Investments LLC’s holdings in Universal Display were worth $1,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of OLED. Orion Capital Management LLC purchased a new stake in shares of Universal Display during the fourth quarter worth about $29,000. Brown Brothers Harriman & Co. grew its stake in shares of Universal Display by 280.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 154 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Universal Display by 401.9% during the fourth quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 209 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Universal Display during the fourth quarter worth about $40,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Universal Display by 761.1% during the fourth quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company’s stock worth $45,000 after acquiring an additional 274 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on OLED shares. Wall Street Zen upgraded Universal Display from a “sell” rating to a “hold” rating in a research note on Friday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $170.00 target price on shares of Universal Display in a report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $190.43.

Universal Display Price Performance

NASDAQ:OLED opened at $151.26 on Friday. The firm has a market cap of $7.19 billion, a price-to-earnings ratio of 31.45, a price-to-earnings-growth ratio of 1.64 and a beta of 1.50. The company has a 50 day moving average price of $141.69 and a 200-day moving average price of $144.96. Universal Display Corporation has a 1-year low of $103.70 and a 1-year high of $237.00.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.28. The company had revenue of $166.28 million during the quarter, compared to analysts’ expectations of $154.76 million. Universal Display had a net margin of 35.40% and a return on equity of 15.35%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 earnings per share. On average, sell-side analysts anticipate that Universal Display Corporation will post 4.71 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Monday, June 16th. Universal Display’s payout ratio is 37.42%.

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.