Universal Display Co. (NASDAQ:OLED) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lowered its position in shares of Universal Display Co. (NASDAQ:OLED) by 10.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 113,637 shares of the semiconductor company’s stock after selling 13,000 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.24% of Universal Display worth $21,734,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of OLED. Orion Capital Management LLC acquired a new stake in Universal Display during the third quarter worth approximately $31,000. Tyler Stone Wealth Management acquired a new position in shares of Universal Display in the 2nd quarter valued at $43,000. Rise Advisors LLC acquired a new position in shares of Universal Display in the 4th quarter valued at $57,000. Fifth Third Bancorp boosted its holdings in shares of Universal Display by 22.5% in the 3rd quarter. Fifth Third Bancorp now owns 593 shares of the semiconductor company’s stock valued at $93,000 after purchasing an additional 109 shares during the last quarter. Finally, Lazard Asset Management LLC boosted 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 during the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on OLED shares. Needham & Company LLC reiterated a “buy” rating and issued a $198.00 price target on shares of Universal Display in a report on Tuesday, March 26th. Oppenheimer reiterated an “outperform” rating and issued a $200.00 price target (down previously from $210.00) on shares of Universal Display in a report on Friday, February 23rd. Citigroup reiterated a “neutral” rating and issued a $180.00 price target (up previously from $161.00) on shares of Universal Display in a report on Friday, January 19th. Finally, TD Cowen lifted their price target on shares of Universal Display from $165.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Universal Display has a consensus rating of “Moderate Buy” and an average price target of $199.86.

Universal Display Trading Down 2.1 %

Shares of OLED stock opened at $149.81 on Friday. The company’s fifty day simple moving average is $168.17 and its 200-day simple moving average is $169.24. Universal Display Co. has a 52 week low of $125.98 and a 52 week high of $194.84. The company has a market cap of $7.10 billion, a PE ratio of 35.33, a P/E/G ratio of 1.63 and a beta of 1.45.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, February 22nd. The semiconductor company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.11. Universal Display had a net margin of 35.22% and a return on equity of 14.85%. The business had revenue of $158.32 million for the quarter, compared to the consensus estimate of $161.08 million. During the same quarter last year, the firm posted $1.36 EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. Equities research analysts expect that Universal Display Co. will post 4.72 EPS for the current fiscal year.

Universal Display Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.40 per share. This is an increase from Universal Display’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.60 annualized dividend and a yield of 1.07%. Universal Display’s payout ratio is 37.74%.

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.