Avenir Corp Reduces Stock Holdings in Universal Display Co. (NASDAQ:OLED)

Avenir Corp cut its holdings in Universal Display Co. (NASDAQ:OLED) by 1.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 196,576 shares of the semiconductor company’s stock after selling 2,577 shares during the quarter. Universal Display makes up about 2.9% of Avenir Corp’s holdings, making the stock its 12th largest holding. Avenir Corp’s holdings in Universal Display were worth $28,739,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in OLED. Bridgewater Associates LP lifted its stake in shares of Universal Display by 81.5% during the fourth quarter. Bridgewater Associates LP now owns 72,072 shares of the semiconductor company’s stock worth $10,537,000 after buying an additional 32,357 shares during the period. XTX Topco Ltd purchased a new position in Universal Display in the 4th quarter worth $257,000. Icon Advisers Inc. Co. lifted its position in Universal Display by 37.3% during the 4th quarter. Icon Advisers Inc. Co. now owns 22,784 shares of the semiconductor company’s stock worth $3,331,000 after acquiring an additional 6,184 shares during the period. Barclays PLC grew its stake in Universal Display by 17.9% during the 4th quarter. Barclays PLC now owns 250,647 shares of the semiconductor company’s stock valued at $36,645,000 after purchasing an additional 38,129 shares during the last quarter. Finally, Townsquare Capital LLC acquired a new position in shares of Universal Display in the fourth quarter valued at about $2,159,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on OLED. Oppenheimer decreased their target price on Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, January 2nd. Citigroup decreased 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. The Goldman Sachs Group dropped their price objective 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. Susquehanna reduced their target price on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Finally, Roth Mkm upped their price target on shares of Universal Display from $207.00 to $213.00 and gave the company a “buy” rating in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $190.43.

Universal Display Price Performance

NASDAQ:OLED opened at $113.67 on Thursday. The company has a 50 day moving average price of $141.10 and a 200-day moving average price of $159.50. Universal Display Co. has a 1-year low of $103.70 and a 1-year high of $237.00. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $152.75 million. On average, sell-side analysts anticipate that Universal Display Co. will post 4.71 earnings per share for the current fiscal 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 given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.80 dividend on an annualized basis and a yield of 1.58%. This is an increase from Universal Display’s previous quarterly dividend of $0.40. Universal Display’s dividend payout ratio is currently 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.