Truist Financial Corp Sells 7,391 Shares of Universal Display Co. (NASDAQ:OLED)

Truist Financial Corp trimmed its position in Universal Display Co. (NASDAQ:OLED) by 25.4% during the fourth quarter, Holdings Channel reports. The firm owned 21,723 shares of the semiconductor company’s stock after selling 7,391 shares during the quarter. Truist Financial Corp’s holdings in Universal Display were worth $3,176,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. CIBC Asset Management Inc raised its holdings in shares of Universal Display by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,473 shares of the semiconductor company’s stock valued at $215,000 after purchasing an additional 73 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of Universal Display by 19.2% in the 4th quarter. Sanctuary Advisors LLC now owns 13,375 shares of the semiconductor company’s stock valued at $2,025,000 after purchasing an additional 2,152 shares during the period. Sheaff Brock Investment Advisors LLC raised its holdings in shares of Universal Display by 11.5% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 1,450 shares of the semiconductor company’s stock valued at $212,000 after purchasing an additional 150 shares during the period. Strategic Financial Concepts LLC bought a new stake in shares of Universal Display in the 4th quarter valued at about $11,123,000. Finally, Peregrine Investment Management Inc. bought a new stake in shares of Universal Display in the 4th quarter valued at about $7,661,000. 78.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OLED. The Goldman Sachs Group dropped their target price on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Citigroup decreased their price target on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Needham & Company LLC decreased their price target on shares of Universal Display from $215.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday. TD Cowen decreased their price target on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, Susquehanna decreased 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. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $190.43.

Universal Display Trading Up 0.4 %

Shares of OLED opened at $157.90 on Tuesday. Universal Display Co. has a 12 month low of $140.17 and a 12 month high of $237.00. The firm’s 50 day moving average is $148.39 and its 200-day moving average is $173.84. The stock has a market capitalization of $7.50 billion, a PE ratio of 33.96, a P/E/G ratio of 1.61 and a beta of 1.39.

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

Universal Display Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, March 17th. This is a boost from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.14%. Universal Display’s dividend payout ratio (DPR) is currently 38.71%.

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.