Fernwood Investment Management LLC Reduces Position in Universal Display Co. (NASDAQ:OLED)

Fernwood Investment Management LLC trimmed its stake in Universal Display Co. (NASDAQ:OLED) by 2.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,590 shares of the semiconductor company’s stock after selling 175 shares during the period. Fernwood Investment Management LLC’s holdings in Universal Display were worth $1,110,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in OLED. Pacer Advisors Inc. increased its position in Universal Display by 37.2% during the 4th quarter. Pacer Advisors Inc. now owns 27,246 shares of the semiconductor company’s stock worth $3,983,000 after purchasing an additional 7,390 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Universal Display by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 341,019 shares of the semiconductor company’s stock worth $49,857,000 after buying an additional 7,147 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Universal Display by 95.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 189,603 shares of the semiconductor company’s stock worth $27,720,000 after purchasing an additional 92,410 shares during the period. Inspire Investing LLC acquired a new stake in shares of Universal Display in the fourth quarter worth $462,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Universal Display during the third quarter worth about $2,356,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Stock Performance

NASDAQ:OLED opened at $106.60 on Wednesday. The stock’s 50-day simple moving average is $145.20 and its 200 day simple moving average is $163.34. Universal Display Co. has a 52-week low of $103.70 and a 52-week high of $237.00. The company has a market cap of $5.06 billion, a P/E ratio of 22.92, a P/E/G ratio of 1.61 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.14. The firm had revenue of $162.29 million during the quarter, compared to the consensus estimate of $152.75 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. As a group, equities analysts predict that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors 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 yield of 1.69%. The ex-dividend date was Monday, March 17th. This is an increase from Universal Display’s previous quarterly dividend of $0.40. Universal Display’s dividend payout ratio (DPR) is currently 38.71%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. StockNews.com raised Universal Display from a “sell” rating to a “hold” rating in a research report on Friday, March 21st. Needham & Company LLC decreased their price objective on shares of Universal Display from $215.00 to $170.00 and set a “buy” rating for the company in a report on Friday, February 21st. Oppenheimer cut their target price on Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, January 2nd. Roth Mkm increased their target price on Universal Display from $207.00 to $213.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, The Goldman Sachs Group dropped their price target on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Universal Display has a consensus rating of “Moderate Buy” and an average price target of $190.43.

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.