Universal Display Co. (NASDAQ:OLED) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its position in Universal Display Co. (NASDAQ:OLED) by 7.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,120 shares of the semiconductor company’s stock after selling 15,607 shares during the quarter. Handelsbanken Fonder AB owned 0.43% of Universal Display worth $42,845,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of OLED. ORG Partners LLC acquired a new position in Universal Display during the first quarter valued at approximately $27,000. Tsfg LLC acquired a new position in shares of Universal Display during the 1st quarter valued at $34,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in Universal Display during the 4th quarter worth $35,000. Geneos Wealth Management Inc. increased its holdings in Universal Display by 210.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 233 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 158 shares in the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in Universal Display in the second quarter valued at about $44,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Trading Up 1.7 %

NASDAQ OLED traded up $3.59 during trading hours on Friday, reaching $211.71. 417,203 shares of the company traded hands, compared to its average volume of 361,696. The stock has a market capitalization of $10.04 billion, a PE ratio of 46.02, a PEG ratio of 2.22 and a beta of 1.42. Universal Display Co. has a 12 month low of $133.67 and a 12 month high of $237.00. The company has a 50 day moving average of $195.11 and a two-hundred day moving average of $188.80.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.04). The company had revenue of $158.50 million for the quarter, compared to the consensus estimate of $159.46 million. Universal Display had a return on equity of 15.25% and a net margin of 35.74%. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.04 EPS. On average, equities research analysts anticipate that Universal Display Co. will post 4.81 earnings per share for the current year.

Universal Display Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Monday, September 16th. Universal Display’s dividend payout ratio is currently 34.78%.

Analyst Ratings Changes

OLED has been the subject of several analyst reports. Roth Mkm upped their target price on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. TD Cowen increased their price objective on shares of Universal Display from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Susquehanna lifted their price objective on shares of Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. The Goldman Sachs Group upped their target price on shares of Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Oppenheimer lifted their price target on shares of Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $225.88.

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.