Prudential Financial Inc. Sells 1,676 Shares of Universal Display Co. (NASDAQ:OLED)

Prudential Financial Inc. reduced its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 35.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,106 shares of the semiconductor company’s stock after selling 1,676 shares during the period. Prudential Financial Inc.’s holdings in Universal Display were worth $454,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. CIBC Asset Management Inc lifted its position in shares of Universal Display by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,473 shares of the semiconductor company’s stock worth $215,000 after purchasing an additional 73 shares during the last quarter. Arizona State Retirement System lifted its holdings in Universal Display by 0.7% during the 4th quarter. Arizona State Retirement System now owns 13,065 shares of the semiconductor company’s stock valued at $1,910,000 after buying an additional 88 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in Universal Display by 0.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,091 shares of the semiconductor company’s stock valued at $1,475,000 after buying an additional 90 shares during the period. Louisiana State Employees Retirement System grew its stake in Universal Display by 0.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the semiconductor company’s stock worth $1,798,000 after acquiring an additional 100 shares in the last quarter. Finally, OLD National Bancorp IN increased its position in shares of Universal Display by 4.3% during the fourth quarter. OLD National Bancorp IN now owns 2,527 shares of the semiconductor company’s stock worth $369,000 after acquiring an additional 104 shares during the period. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Wall Street Analyst Weigh In

OLED has been the topic of several research analyst reports. Needham & Company LLC dropped their price objective on Universal Display from $215.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. StockNews.com upgraded Universal Display from a “sell” rating to a “hold” rating in a research note on Friday, March 21st. Citigroup lowered their price objective on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Oppenheimer cut their target price on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, January 2nd. Finally, Susquehanna lowered their price target on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $190.43.

Universal Display Stock Performance

NASDAQ:OLED opened at $125.17 on Thursday. The stock has a market capitalization of $5.94 billion, a P/E ratio of 26.92, a P/E/G ratio of 1.61 and a beta of 1.42. The company’s 50-day simple moving average is $144.19 and its 200-day simple moving average is $162.47. Universal Display Co. has a fifty-two week low of $103.70 and a fifty-two week high of $237.00.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (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 business had revenue of $162.29 million for the quarter, compared to analyst estimates of $152.75 million. On average, research analysts forecast that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.45 dividend. The ex-dividend date was Monday, March 17th. This is a boost from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 1.44%. Universal Display’s dividend payout ratio (DPR) is 38.71%.

About Universal Display

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.