Universal Display Corporation $OLED Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lessened its stake in shares of Universal Display Corporation (NASDAQ:OLED) by 5.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 125,260 shares of the semiconductor company’s stock after selling 6,794 shares during the period. Handelsbanken Fonder AB’s holdings in Universal Display were worth $10,846,000 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. Focus Partners Wealth increased its position in Universal Display by 6.4% during the first quarter. Focus Partners Wealth now owns 3,680 shares of the semiconductor company’s stock worth $513,000 after purchasing an additional 221 shares during the last quarter. American Century Companies Inc. boosted its holdings in Universal Display by 2.3% in the 2nd quarter. American Century Companies Inc. now owns 12,766 shares of the semiconductor company’s stock valued at $1,972,000 after purchasing an additional 285 shares during the last quarter. Invesco Ltd. boosted its holdings in Universal Display by 1.8% in the 2nd quarter. Invesco Ltd. now owns 112,982 shares of the semiconductor company’s stock valued at $17,451,000 after purchasing an additional 2,040 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Universal Display in the 2nd quarter valued at approximately $2,220,000. Finally, Cresset Asset Management LLC grew its stake in shares of Universal Display by 64.2% in the 2nd quarter. Cresset Asset Management LLC now owns 2,512 shares of the semiconductor company’s stock valued at $388,000 after buying an additional 982 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Stock Performance

Universal Display stock opened at $90.96 on Friday. The company’s 50 day simple moving average is $84.68 and its 200-day simple moving average is $95.03. Universal Display Corporation has a 1 year low of $76.42 and a 1 year high of $153.38. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 22.02 and a beta of 1.54.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The firm had revenue of $152.16 million during the quarter, compared to analysts’ expectations of $157.54 million. During the same quarter last year, the company posted $1.41 EPS. The firm’s quarterly revenue was down 11.4% on a year-over-year basis. Equities analysts expect that Universal Display Corporation will post 4.18 earnings per share for the current year.

Universal Display Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 16th. Universal Display’s dividend payout ratio is 48.43%.

Analyst Ratings Changes

A number of analysts have recently issued reports on OLED shares. Weiss Ratings downgraded shares of Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Oppenheimer reiterated an “outperform” rating and issued a $120.00 price objective (down from $130.00) on shares of Universal Display in a research report on Friday, July 31st. BTIG Research cut Universal Display to a “neutral” rating in a research note on Friday, July 31st. Susquehanna reduced their target price on Universal Display from $110.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Finally, Roth Capital set a $168.00 price target on Universal Display in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Universal Display currently has a consensus rating of “Hold” and a consensus price target of $116.33.

About Universal Display

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.