Boothbay Fund Management LLC Decreases Stock Position in Universal Display Co. (NASDAQ:OLED)

Boothbay Fund Management LLC trimmed its stake in Universal Display Co. (NASDAQ:OLED - Free Report) by 59.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,351 shares of the semiconductor company's stock after selling 4,992 shares during the period. Boothbay Fund Management LLC's holdings in Universal Display were worth $490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Universal Display during the fourth quarter valued at approximately $95,924,000. Raymond James Financial Inc. bought a new stake in Universal Display during the fourth quarter valued at about $41,504,000. Jennison Associates LLC grew its stake in Universal Display by 58.2% in the fourth quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company's stock valued at $99,975,000 after purchasing an additional 251,557 shares during the last quarter. Barclays PLC raised its holdings in Universal Display by 753.8% in the third quarter. Barclays PLC now owns 212,518 shares of the semiconductor company's stock worth $44,608,000 after purchasing an additional 187,627 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of Universal Display by 679.9% during the fourth quarter. Hsbc Holdings PLC now owns 157,502 shares of the semiconductor company's stock valued at $23,120,000 after buying an additional 137,307 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors.

Universal Display Trading Down 2.0 %

Universal Display stock traded down $2.93 during mid-day trading on Tuesday, hitting $140.30. The company had a trading volume of 209,285 shares, compared to its average volume of 575,151. The company has a market capitalization of $6.67 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 1.61 and a beta of 1.46. The company's fifty day moving average is $135.18 and its 200-day moving average is $151.46. Universal Display Co. has a 12-month low of $103.70 and a 12-month high of $237.00.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.28. The company had revenue of $166.28 million for the quarter, compared to the consensus estimate of $154.76 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. Universal Display's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.19 earnings per share. As a group, sell-side analysts expect that Universal Display Co. will post 4.71 EPS for the current fiscal year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Monday, June 16th. Universal Display's payout ratio is 37.42%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Citigroup reduced their price objective on shares of Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a research note on Monday, February 10th. The Goldman Sachs Group lowered their price objective on Universal Display from $234.00 to $203.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Needham & Company LLC reiterated a "buy" rating and issued a $170.00 price target on shares of Universal Display in a research note on Friday. StockNews.com upgraded Universal Display from a "sell" rating to a "hold" rating in a research note on Friday. Finally, Susquehanna decreased their price objective on shares of Universal Display from $165.00 to $160.00 and set a "neutral" rating for the company 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.