Guggenheim Capital LLC Sells 5,115 Shares of Universal Display Co. (NASDAQ:OLED)

Guggenheim Capital LLC decreased its position in shares of Universal Display Co. (NASDAQ:OLED) by 23.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 17,094 shares of the semiconductor company’s stock after selling 5,115 shares during the quarter. Guggenheim Capital LLC’s holdings in Universal Display were worth $2,499,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Universal Display by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 4,784,099 shares of the semiconductor company’s stock valued at $699,435,000 after acquiring an additional 67,590 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Universal Display by 12.8% in the 4th quarter. Geode Capital Management LLC now owns 901,315 shares of the semiconductor company’s stock valued at $131,806,000 after purchasing an additional 101,963 shares during the period. Jennison Associates LLC boosted its position in shares of Universal Display by 58.2% in the 4th quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock worth $99,975,000 after purchasing an additional 251,557 shares during the last quarter. Norges Bank acquired a new stake in shares of Universal Display during the fourth quarter worth $95,924,000. Finally, Bank of New York Mellon Corp increased its holdings in Universal Display by 10.7% in the fourth quarter. Bank of New York Mellon Corp now owns 437,592 shares of the semiconductor company’s stock valued at $63,976,000 after purchasing an additional 42,218 shares during the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Trading Up 0.3 %

Shares of OLED stock opened at $113.98 on Friday. The stock has a market cap of $5.41 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Universal Display Co. has a 1 year low of $103.70 and a 1 year high of $237.00. The stock has a 50 day simple moving average of $139.96 and a 200 day simple moving average of $157.88.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.08 by $0.14. The company had revenue of $162.29 million during the quarter, compared to analysts’ expectations of $152.75 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. Analysts forecast that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Monday, March 17th. This is a boost from Universal Display’s previous quarterly dividend of $0.40. Universal Display’s payout ratio is presently 38.71%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Needham & Company LLC cut their price target on shares of Universal Display from $215.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Susquehanna reduced their price target on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. The Goldman Sachs Group lowered their price objective on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. StockNews.com lowered Universal Display from a “hold” rating to a “sell” rating in a report on Friday, April 11th. Finally, Roth Mkm increased their price target on Universal Display from $207.00 to $213.00 and gave the stock 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 issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $190.43.

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.