Harbor Capital Advisors Inc. Sells 1,663 Shares of Universal Display Co. (NASDAQ:OLED)

Harbor Capital Advisors Inc. cut its stake in shares of Universal Display Co. (NASDAQ:OLED) by 16.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 8,380 shares of the semiconductor company’s stock after selling 1,663 shares during the period. Harbor Capital Advisors Inc.’s holdings in Universal Display were worth $1,759,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of OLED. Private Advisor Group LLC grew its holdings in shares of Universal Display by 133.4% in the first quarter. Private Advisor Group LLC now owns 5,513 shares of the semiconductor company’s stock valued at $929,000 after acquiring an additional 3,151 shares in the last quarter. GSA Capital Partners LLP bought a new position in Universal Display in the 1st quarter valued at $714,000. Geneos Wealth Management Inc. increased its position in shares of Universal Display by 210.7% during 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 during the last quarter. Texas Permanent School Fund Corp raised its stake in shares of Universal Display by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 38,131 shares of the semiconductor company’s stock worth $6,423,000 after purchasing an additional 493 shares during the period. Finally, Advisory Services Network LLC boosted its holdings in shares of Universal Display by 1.9% in the 1st quarter. Advisory Services Network LLC now owns 49,959 shares of the semiconductor company’s stock worth $8,416,000 after buying an additional 926 shares during the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Price Performance

Universal Display stock opened at $180.80 on Wednesday. Universal Display Co. has a one year low of $144.85 and a one year high of $237.00. The firm has a market capitalization of $8.58 billion, a P/E ratio of 36.31, a PEG ratio of 1.93 and a beta of 1.43. The business has a fifty day moving average price of $201.09 and a 200-day moving average price of $194.71.

Universal Display (NASDAQ:OLED) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.21. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The business had revenue of $161.63 million during the quarter, compared to analyst estimates of $165.28 million. During the same quarter in the previous year, the firm earned $1.08 EPS. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. Sell-side analysts expect that Universal Display Co. will post 4.8 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Tuesday, December 17th. Universal Display’s payout ratio is 32.13%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Oppenheimer decreased their price objective on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Susquehanna raised their price target on shares of Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Roth Mkm upped their price objective on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Needham & Company LLC decreased their target price on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group upped their price target on Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $215.63.

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 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.