Universal Display Co. (NASDAQ:OLED) Shares Sold by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning reduced its stake in shares of Universal Display Co. (NASDAQ:OLED) by 34.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 979 shares of the semiconductor company’s stock after selling 508 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Universal Display were worth $165,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State of Michigan Retirement System raised its stake in Universal Display by 2.9% during the 1st quarter. State of Michigan Retirement System now owns 10,705 shares of the semiconductor company’s stock worth $1,803,000 after acquiring an additional 300 shares in the last quarter. Tsfg LLC acquired a new position in Universal Display in the first quarter valued at $34,000. Wealth Enhancement Advisory Services LLC increased its stake in Universal Display by 0.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 132,024 shares of the semiconductor company’s stock valued at $22,239,000 after purchasing an additional 399 shares during the period. Cardinal Capital Management increased its stake in Universal Display by 16.1% in the first quarter. Cardinal Capital Management now owns 8,389 shares of the semiconductor company’s stock valued at $1,413,000 after purchasing an additional 1,161 shares during the period. Finally, Red Spruce Capital LLC increased its stake in Universal Display by 13.2% in the first quarter. Red Spruce Capital LLC now owns 11,070 shares of the semiconductor company’s stock valued at $1,865,000 after purchasing an additional 1,290 shares during the period. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Stock Up 2.1 %

Shares of Universal Display stock opened at $217.98 on Thursday. The company’s 50-day simple moving average is $184.65 and its 200-day simple moving average is $177.22. Universal Display Co. has a 52-week low of $133.67 and a 52-week high of $219.31. The firm has a market cap of $10.34 billion, a price-to-earnings ratio of 47.39, a price-to-earnings-growth ratio of 2.31 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.14. Universal Display had a net margin of 36.00% and a return on equity of 15.57%. The company had revenue of $165.26 million for the quarter, compared to analyst estimates of $150.75 million. During the same period in the prior year, the business posted $0.83 earnings per share. The firm’s revenue for the quarter was up 26.7% compared to the same quarter last year. Equities research analysts anticipate that Universal Display Co. will post 4.75 EPS for the current year.

Universal Display Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.73%. Universal Display’s dividend payout ratio is presently 34.78%.

Analysts Set New Price Targets

OLED has been the topic of a number of recent research reports. Needham & Company LLC lifted their price objective on shares of Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a research note on Tuesday. Oppenheimer lifted their price objective on shares of Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Universal Display currently has a consensus rating of “Moderate Buy” and a consensus target price of $213.29.

Insider Activity

In other news, SVP Mauro Premutico sold 8,202 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $176.82, for a total value of $1,450,277.64. Following the sale, the senior vice president now directly owns 28,743 shares in the company, valued at $5,082,337.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Mauro Premutico sold 8,202 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the transaction, the senior vice president now owns 28,743 shares of the company’s stock, valued at $5,082,337.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Julia J. Brown sold 10,358 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $175.00, for a total transaction of $1,812,650.00. Following the transaction, the executive vice president now directly owns 56,624 shares in the company, valued at approximately $9,909,200. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

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.