Headlands Technologies LLC Sells 1,992 Shares of Universal Display Co. (NASDAQ:OLED)

Headlands Technologies LLC trimmed its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 88.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 251 shares of the semiconductor company’s stock after selling 1,992 shares during the quarter. Headlands Technologies LLC’s holdings in Universal Display were worth $48,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Orion Capital Management LLC bought a new position in Universal Display during the third quarter worth about $31,000. Rise Advisors LLC bought a new position in Universal Display in the 4th quarter valued at about $57,000. GAMMA Investing LLC bought a new position in Universal Display in the 4th quarter valued at about $73,000. Fifth Third Bancorp increased its holdings in Universal Display by 22.5% in the 3rd quarter. Fifth Third Bancorp now owns 593 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 109 shares during the period. Finally, CWM LLC increased its holdings in Universal Display by 21.0% in the 4th quarter. CWM LLC now owns 606 shares of the semiconductor company’s stock valued at $116,000 after buying an additional 105 shares during the period. 78.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on OLED. Oppenheimer reissued an “outperform” rating and issued a $200.00 target price (down from $210.00) on shares of Universal Display in a report on Friday, February 23rd. Citigroup restated a “neutral” rating and issued a $180.00 price target (up from $161.00) on shares of Universal Display in a research note on Friday, January 19th. TD Cowen raised their price target on shares of Universal Display from $165.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $198.00 target price on shares of Universal Display in a research report on Tuesday, March 26th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Universal Display currently has an average rating of “Moderate Buy” and an average target price of $199.86.

Universal Display Price Performance

NASDAQ:OLED opened at $152.66 on Thursday. The firm’s 50 day simple moving average is $164.54 and its 200 day simple moving average is $169.15. Universal Display Co. has a one year low of $125.98 and a one year high of $194.84. The company has a market cap of $7.24 billion, a PE ratio of 36.00, a P/E/G ratio of 1.72 and a beta of 1.44.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, February 22nd. The semiconductor company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.11. The firm had revenue of $158.32 million for the quarter, compared to the consensus estimate of $161.08 million. Universal Display had a net margin of 35.22% and a return on equity of 14.85%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.36 EPS. Equities research analysts expect that Universal Display Co. will post 4.72 EPS for the current year.

Universal Display Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.40 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.05%. This is an increase from Universal Display’s previous quarterly dividend of $0.35. Universal Display’s payout ratio is 37.74%.

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.