Balboa Wealth Partners Sells 1,817 Shares of Universal Display Co. (NASDAQ:OLED)

Balboa Wealth Partners trimmed its position in Universal Display Co. (NASDAQ:OLED) by 56.3% in the 4th quarter, Holdings Channel reports. The firm owned 1,408 shares of the semiconductor company’s stock after selling 1,817 shares during the quarter. Balboa Wealth Partners’ holdings in Universal Display were worth $269,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Treasurer of the State of North Carolina raised its position in shares of Universal Display by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 20,516 shares of the semiconductor company’s stock valued at $3,221,000 after buying an additional 100 shares in the last quarter. CWM LLC raised its position in shares of Universal Display by 21.0% during the 4th quarter. CWM LLC now owns 606 shares of the semiconductor company’s stock valued at $116,000 after buying an additional 105 shares in the last quarter. Fifth Third Bancorp raised its position 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 valued at $93,000 after buying an additional 109 shares in the last quarter. Bahl & Gaynor Inc. raised its position in shares of Universal Display by 0.6% during the 3rd quarter. Bahl & Gaynor Inc. now owns 18,288 shares of the semiconductor company’s stock valued at $2,871,000 after buying an additional 109 shares in the last quarter. Finally, Brown Advisory Inc. raised its position in shares of Universal Display by 7.0% during the 4th quarter. Brown Advisory Inc. now owns 1,736 shares of the semiconductor company’s stock valued at $332,000 after buying an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Analysts Set New Price Targets

OLED has been the topic of several research reports. TD Cowen raised their price objective on shares of Universal Display from $165.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Oppenheimer reissued an “outperform” rating and issued a $200.00 price target (down from $210.00) on shares of Universal Display in a research note on Friday, February 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $198.00 price target on shares of Universal Display in a research note on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $199.86.

Universal Display Stock Up 0.4 %

Shares of NASDAQ:OLED traded up $0.72 during midday trading on Thursday, hitting $177.05. 63,083 shares of the stock traded hands, compared to its average volume of 281,591. The stock has a market capitalization of $8.40 billion, a PE ratio of 38.47, a P/E/G ratio of 1.90 and a beta of 1.44. The business’s 50 day moving average is $164.39 and its two-hundred day moving average is $171.47. Universal Display Co. has a one year low of $133.67 and a one year high of $194.84.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.05 by $0.14. The firm had revenue of $165.26 million during the quarter, compared to the consensus estimate of $150.75 million. Universal Display had a net margin of 36.00% and a return on equity of 15.57%. The company’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 earnings per share. As a group, sell-side analysts forecast that Universal Display Co. will post 4.73 earnings per share for the current year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, June 14th. Universal Display’s dividend payout ratio is currently 34.78%.

Insider Activity at Universal Display

In related news, SVP Mauro Premutico sold 8,202 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the transaction, the senior vice president now owns 28,743 shares in the company, valued at $5,082,337.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Mauro Premutico sold 8,202 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the transaction, the senior vice president now owns 28,743 shares in the company, valued at $5,082,337.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Julia J. Brown sold 10,358 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $175.00, for a total transaction of $1,812,650.00. Following the completion of the sale, the executive vice president now owns 56,624 shares in the company, valued at approximately $9,909,200. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

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.