Ethic Inc. Lowers Stock Holdings in Universal Display Co. (NASDAQ:OLED)

Ethic Inc. trimmed its position in shares of Universal Display Co. (NASDAQ:OLED) by 18.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,203 shares of the semiconductor company’s stock after selling 937 shares during the quarter. Ethic Inc.’s holdings in Universal Display were worth $614,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. CIBC Asset Management Inc boosted its holdings in Universal Display by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,473 shares of the semiconductor company’s stock valued at $215,000 after acquiring an additional 73 shares during the period. CIBC Private Wealth Group LLC raised its position in Universal Display by 5.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,615 shares of the semiconductor company’s stock valued at $245,000 after purchasing an additional 85 shares in the last quarter. Arizona State Retirement System raised its position in Universal Display by 0.7% in the 4th quarter. Arizona State Retirement System now owns 13,065 shares of the semiconductor company’s stock valued at $1,910,000 after purchasing an additional 88 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Universal Display by 0.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,091 shares of the semiconductor company’s stock valued at $1,475,000 after purchasing an additional 90 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Universal Display by 0.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the semiconductor company’s stock valued at $1,798,000 after purchasing an additional 100 shares in the last quarter. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Universal Display Stock Down 0.3%

OLED opened at $154.04 on Thursday. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 1.61 and a beta of 1.46. Universal Display Co. has a 52 week low of $103.70 and a 52 week high of $237.00. The business’s 50 day moving average is $134.61 and its two-hundred day moving average is $149.51.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.07 by $0.28. The company had revenue of $166.28 million for the quarter, compared to analyst estimates of $154.76 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 earnings per share. Equities analysts expect that Universal Display Co. will post 4.71 EPS for the current fiscal year.

Universal Display Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.80 dividend on an annualized basis and a yield of 1.17%. Universal Display’s payout ratio is 37.42%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OLED. StockNews.com raised Universal Display from a “sell” rating to a “hold” rating in a research report on Friday, May 2nd. The Goldman Sachs Group cut their target price on Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Roth Mkm raised their target price on Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Needham & Company LLC reissued a “buy” rating and set a $170.00 target price on shares of Universal Display in a research report on Friday, May 2nd. Finally, Susquehanna cut their target price on Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $190.43.

Universal Display 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.