LGT Capital Partners LTD. Reduces Holdings in Universal Display Co. (NASDAQ:OLED)

LGT Capital Partners LTD. reduced its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 53.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 134,190 shares of the semiconductor company’s stock after selling 153,520 shares during the period. LGT Capital Partners LTD.’s holdings in Universal Display were worth $25,665,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in OLED. Orion Capital Management LLC acquired a new position in Universal Display in the 3rd quarter valued at $31,000. Tyler Stone Wealth Management acquired a new position in Universal Display during the second quarter worth $43,000. Rise Advisors LLC purchased a new stake in shares of Universal Display during the 4th quarter worth $57,000. Fifth Third Bancorp grew its stake in shares of Universal Display by 22.5% during the 3rd quarter. Fifth Third Bancorp now owns 593 shares of the semiconductor company’s stock worth $93,000 after purchasing an additional 109 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in shares of Universal Display by 25.4% in the 3rd quarter. Lazard Asset Management LLC now owns 598 shares of the semiconductor company’s stock valued at $93,000 after purchasing an additional 121 shares in the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Price Performance

Shares of Universal Display stock opened at $168.45 on Friday. The business has a 50-day moving average of $173.12 and a 200-day moving average of $168.83. Universal Display Co. has a 1-year low of $125.98 and a 1-year high of $194.84. The company has a market capitalization of $7.98 billion, a PE ratio of 39.73, a P/E/G ratio of 1.83 and a beta of 1.45.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.11. Universal Display had a return on equity of 14.85% and a net margin of 35.22%. The firm had revenue of $158.32 million during the quarter, compared to analyst estimates of $161.08 million. During the same period in the previous year, the company earned $1.36 earnings per share. Universal Display’s quarterly revenue was down 6.3% on a year-over-year basis. On average, equities analysts expect that Universal Display Co. will post 4.72 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a $0.40 dividend. The ex-dividend date is Thursday, March 14th. This is an increase from Universal Display’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 0.95%. Universal Display’s dividend payout ratio (DPR) is currently 37.74%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on OLED shares. TheStreet upgraded Universal Display from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Citigroup reiterated a “neutral” rating and issued a $180.00 price target (up from $161.00) on shares of Universal Display in a report on Friday, January 19th. Oppenheimer reiterated an “outperform” rating and issued a $200.00 target price (down from $210.00) on shares of Universal Display in a research note on Friday, February 23rd. Bank of America raised shares of Universal Display from a “neutral” rating to a “buy” rating and upped their price objective for the company from $160.00 to $250.00 in a research note on Monday, December 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $198.00 target price on shares of Universal Display in a report on Tuesday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Universal Display presently has a consensus rating of “Moderate Buy” and an average target price of $199.86.

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.