First Trust Advisors LP Sells 71,524 Shares of Universal Display Co. (NASDAQ:OLED)

First Trust Advisors LP lowered its stake in shares of Universal Display Co. (NASDAQ:OLED) by 62.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 42,560 shares of the semiconductor company’s stock after selling 71,524 shares during the quarter. First Trust Advisors LP owned 0.09% of Universal Display worth $6,505,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Universal Display by 108.6% in the 4th quarter. BlackRock Inc. now owns 3,754,887 shares of the semiconductor company’s stock worth $351,345,000 after acquiring an additional 1,954,515 shares in the last quarter. Norges Bank bought a new position in shares of Universal Display in the 4th quarter worth $40,599,000. Bank of New York Mellon Corp raised its position in shares of Universal Display by 178.8% in the 4th quarter. Bank of New York Mellon Corp now owns 455,871 shares of the semiconductor company’s stock worth $42,656,000 after acquiring an additional 292,382 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Universal Display by 7,230.1% in the 4th quarter. Principal Financial Group Inc. now owns 182,374 shares of the semiconductor company’s stock worth $17,065,000 after acquiring an additional 179,886 shares in the last quarter. Finally, Deutsche Bank AG raised its position in shares of Universal Display by 160.2% in the 4th quarter. Deutsche Bank AG now owns 276,313 shares of the semiconductor company’s stock worth $25,852,000 after acquiring an additional 170,117 shares in the last quarter. 75.96% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Steven V. Abramson sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $179.64, for a total transaction of $5,389,200.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Sidney D. Rosenblatt sold 33,930 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $182.23, for a total transaction of $6,183,063.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,750 shares of company stock worth $19,581,068. 3.70% of the stock is owned by insiders.

OLED has been the subject of several recent research reports. ValuEngine raised Universal Display from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 target price (up from $140.00) on shares of Universal Display in a research report on Friday, May 3rd. Zacks Investment Research lowered Universal Display from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 24th. Citigroup increased their price objective on Universal Display from $140.00 to $180.00 and gave the company a “neutral” rating in a report on Monday, May 6th. Finally, Roth Capital set a $194.00 price objective on Universal Display and gave the company a “buy” rating in a report on Friday, May 3rd. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $160.44.

Shares of Universal Display stock traded up $2.91 during trading on Monday, hitting $190.97. 710,100 shares of the company’s stock traded hands, compared to its average volume of 788,347. The business’s fifty day simple moving average is $165.22. Universal Display Co. has a twelve month low of $78.78 and a twelve month high of $198.86. The firm has a market cap of $8.88 billion, a P/E ratio of 154.01, a PEG ratio of 2.57 and a beta of 1.54.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, May 2nd. The semiconductor company reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.40. Universal Display had a net margin of 28.93% and a return on equity of 12.35%. The firm had revenue of $87.80 million during the quarter, compared to the consensus estimate of $64.59 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. The business’s quarterly revenue was up 101.4% on a year-over-year basis. Sell-side analysts anticipate that Universal Display Co. will post 2.44 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date was Thursday, June 13th. Universal Display’s dividend payout ratio is 32.26%.

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 flat panel displays and solid-state lighting applications. As of February 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.

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

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