Avenir Corp Sells 2,577 Shares of Universal Display Co. (NASDAQ:OLED)

Avenir Corp cut its position in shares of Universal Display Co. (NASDAQ:OLED) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 196,576 shares of the semiconductor company’s stock after selling 2,577 shares during the period. Universal Display makes up 2.9% of Avenir Corp’s portfolio, making the stock its 12th largest holding. Avenir Corp owned about 0.41% of Universal Display worth $28,739,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. 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 valued at $31,000 after buying an additional 154 shares during the last quarter. Blue Trust Inc. boosted its holdings in Universal Display by 401.9% during the 4th quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 209 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Universal Display in the 4th quarter valued at $40,000. Farther Finance Advisors LLC increased its stake in Universal Display by 761.1% in the fourth quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 274 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in shares of Universal Display by 185.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 357 shares of the semiconductor company’s stock worth $52,000 after purchasing an additional 232 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors.

Universal Display Stock Down 2.5 %

Universal Display stock opened at $113.67 on Thursday. The firm has a market cap of $5.40 billion, a P/E ratio of 24.45, a P/E/G ratio of 1.61 and a beta of 1.42. The business has a fifty day moving average of $141.10 and a two-hundred day moving average of $159.50. Universal Display Co. has a twelve month low of $103.70 and a twelve month high of $237.00.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.14. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The firm had revenue of $162.29 million during the quarter, compared to analysts’ expectations of $152.75 million. Equities analysts expect that Universal Display Co. will post 4.71 earnings per share for the current year.

Universal Display Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.45 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.58%. This is an increase from Universal Display’s previous quarterly dividend of $0.40. Universal Display’s payout ratio is presently 38.71%.

Analysts Set New Price Targets

Several research analysts recently commented on OLED shares. Susquehanna reduced their price target on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. StockNews.com lowered shares of Universal Display from a “hold” rating to a “sell” rating in a research report on Friday, April 11th. Needham & Company LLC lowered their price target on Universal Display from $215.00 to $170.00 and set a “buy” rating for the company in a report on Friday, February 21st. Roth Mkm raised their price objective on Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, The Goldman Sachs Group lowered their target price on Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $190.43.

Universal Display Profile

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.