Clearstead Trust LLC Reduces Holdings in Universal Display Co. (NASDAQ:OLED)

Clearstead Trust LLC cut its stake in shares of Universal Display Co. (NASDAQ:OLED) by 11.1% in the 4th quarter, HoldingsChannel reports. The fund owned 1,000 shares of the semiconductor company’s stock after selling 125 shares during the quarter. Clearstead Trust LLC’s holdings in Universal Display were worth $146,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Assetmark Inc. bought a new position in Universal Display during the 3rd quarter valued at approximately $29,000. Atria Investments Inc raised its position in Universal Display by 766.2% during the 3rd quarter. Atria Investments Inc now owns 12,863 shares of the semiconductor company’s stock valued at $2,700,000 after purchasing an additional 11,378 shares during the last quarter. Axxcess Wealth Management LLC bought a new position in Universal Display during the 3rd quarter valued at approximately $300,000. Crossmark Global Holdings Inc. raised its position in Universal Display by 11.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,300 shares of the semiconductor company’s stock valued at $693,000 after purchasing an additional 350 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its position in Universal Display by 6.2% during the 3rd quarter. Apollon Wealth Management LLC now owns 4,970 shares of the semiconductor company’s stock valued at $1,043,000 after purchasing an additional 289 shares during the last quarter. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Universal Display Stock Up 1.7 %

Universal Display stock opened at $150.35 on Friday. The company has a market capitalization of $7.14 billion, a P/E ratio of 32.33, a PEG ratio of 1.61 and a beta of 1.40. The stock’s 50 day moving average is $148.98 and its 200 day moving average is $171.07. Universal Display Co. has a twelve month low of $140.17 and a twelve month high of $237.00.

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

Universal Display Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.20%. This is an increase from Universal Display’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, March 17th. Universal Display’s dividend payout ratio (DPR) is currently 38.71%.

Analysts Set New Price Targets

OLED has been the subject of a number of recent analyst reports. 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 research report on Friday, February 21st. StockNews.com lowered Universal Display from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Citigroup decreased their target price on Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Oppenheimer decreased their target price on Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, January 2nd. Finally, The Goldman Sachs Group decreased their target price on Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $190.43.

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.