Two Sigma Investments LP Cuts Position in Universal Display Co. (NASDAQ:OLED)

Two Sigma Investments LP lessened its holdings in Universal Display Co. (NASDAQ:OLED) by 87.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,301 shares of the semiconductor company’s stock after selling 15,825 shares during the period. Two Sigma Investments LP’s holdings in Universal Display were worth $336,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of OLED. Norges Bank purchased a new position in shares of Universal Display in the 4th quarter valued at about $95,924,000. Raymond James Financial Inc. purchased a new position in shares of Universal Display in the 4th quarter valued at about $41,504,000. Point72 Asset Management L.P. purchased a new position in shares of Universal Display in the 4th quarter valued at about $38,981,000. Janus Henderson Group PLC increased its stake in shares of Universal Display by 41.5% in the 4th quarter. Janus Henderson Group PLC now owns 551,673 shares of the semiconductor company’s stock valued at $80,674,000 after purchasing an additional 161,782 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Universal Display in the 4th quarter valued at about $20,952,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Trading Up 3.3%

NASDAQ:OLED opened at $161.02 on Wednesday. Universal Display Co. has a 12 month low of $103.70 and a 12 month high of $237.00. The stock has a 50 day moving average of $135.11 and a two-hundred day moving average of $145.44. The firm has a market cap of $7.65 billion, a P/E ratio of 34.63, a price-to-earnings-growth ratio of 1.61 and a beta of 1.50.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, May 1st. The semiconductor company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.07 by $0.28. The company had revenue of $166.28 million during the quarter, compared to analyst estimates of $154.76 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. Universal Display’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.19 EPS. On average, research analysts forecast that Universal Display Co. will post 4.71 earnings per share for the current year.

Universal Display Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.45 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.12%. Universal Display’s dividend payout ratio (DPR) is presently 37.42%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on OLED shares. Susquehanna cut their price target on Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Wall Street Zen upgraded Universal Display from a “sell” rating to a “hold” rating in a research note on Friday, May 2nd. Roth Mkm boosted their price objective on Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $170.00 price objective on shares of Universal Display in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $190.43.

Universal Display 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.