HighTower Advisors LLC Sells 407 Shares of Universal Display Co. (NASDAQ:OLED)

HighTower Advisors LLC trimmed its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 6.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,725 shares of the semiconductor company’s stock after selling 407 shares during the period. HighTower Advisors LLC’s holdings in Universal Display were worth $837,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. CIBC Asset Management Inc raised its stake in Universal Display by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,473 shares of the semiconductor company’s stock worth $215,000 after buying an additional 73 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Universal Display by 0.7% in the 4th quarter. Arizona State Retirement System now owns 13,065 shares of the semiconductor company’s stock valued at $1,910,000 after acquiring an additional 88 shares during the period. Glenmede Trust Co. NA raised its position in shares of Universal Display by 1.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,046 shares of the semiconductor company’s stock worth $1,269,000 after acquiring an additional 97 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Universal Display by 0.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the semiconductor company’s stock worth $1,798,000 after purchasing an additional 100 shares during the last quarter. Finally, OLD National Bancorp IN boosted its position in Universal Display by 4.3% during the fourth quarter. OLD National Bancorp IN now owns 2,527 shares of the semiconductor company’s stock valued at $369,000 after purchasing an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Stock Performance

Universal Display stock opened at $149.74 on Friday. The stock has a market capitalization of $7.11 billion, a P/E ratio of 32.20, a P/E/G ratio of 1.61 and a beta of 1.40. The company’s fifty day moving average price is $149.55 and its 200 day moving average price is $168.57. Universal Display Co. has a 1 year low of $140.17 and a 1 year high of $237.00.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data 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 return on equity of 15.51% and a net margin of 34.29%. The company had revenue of $162.29 million during the quarter, compared to analyst estimates of $152.75 million. Sell-side analysts predict that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The business 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. 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 1.20%. The ex-dividend date of this dividend is Monday, March 17th. Universal Display’s payout ratio is currently 38.71%.

Analyst Upgrades and Downgrades

OLED has been the subject of several recent analyst reports. The Goldman Sachs Group lowered their target price on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. StockNews.com raised Universal Display from a “sell” rating to a “hold” rating in a research report on Friday, March 21st. Citigroup reduced their target price on Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. 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 report on Friday, February 21st. Finally, Susquehanna dropped their price target on Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.