Citigroup Inc. Sells 211,765 Shares of Universal Display Corporation $OLED

Key Points

• Citigroup sold 211,765 shares of Universal Display in Q3, cutting its stake by 91% to 20,892 shares valued at about $3.00 million, per its latest 13F filing.
• Universal Display beat EPS estimates ($1.39 vs. $1.28) with revenue roughly in line and up 6.5% year-over-year, and it raised its quarterly dividend to $0.50 (annualized $2.00, ~2.0% yield).
• The stock has a market cap of $4.7 billion and a P/E of 19.7, and analysts hold a consensus "Hold" rating with an average target price of $151.67.

Citigroup Inc. lessened its position in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 91.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,892 shares of the semiconductor company's stock after selling 211,765 shares during the quarter. Citigroup Inc.'s holdings in Universal Display were worth $3,001,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of OLED. HM Payson & Co. increased its position in shares of Universal Display by 10.7% during the third quarter. HM Payson & Co. now owns 734 shares of the semiconductor company's stock worth $105,000 after purchasing an additional 71 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Universal Display by 27.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 351 shares of the semiconductor company's stock worth $50,000 after purchasing an additional 75 shares in the last quarter. Wealth Alliance LLC grew its stake in Universal Display by 4.0% during the 2nd quarter. Wealth Alliance LLC now owns 2,186 shares of the semiconductor company's stock worth $338,000 after buying an additional 85 shares during the last quarter. Rise Advisors LLC increased its position in Universal Display by 53.3% during the 3rd quarter. Rise Advisors LLC now owns 299 shares of the semiconductor company's stock valued at $43,000 after buying an additional 104 shares in the last quarter. Finally, Money Concepts Capital Corp raised its stake in Universal Display by 0.7% in the third quarter. Money Concepts Capital Corp now owns 15,602 shares of the semiconductor company's stock valued at $2,241,000 after buying an additional 115 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Trading Down 1.7%

Shares of NASDAQ OLED opened at $99.82 on Friday. The company has a 50 day simple moving average of $117.41 and a two-hundred day simple moving average of $128.21. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 7.81 and a beta of 1.65. Universal Display Corporation has a 12 month low of $98.74 and a 12 month high of $163.21.

Universal Display (NASDAQ:OLED - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The semiconductor company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.11. The firm had revenue of $172.93 million for the quarter, compared to analyst estimates of $173.35 million. Universal Display had a net margin of 37.21% and a return on equity of 14.07%. The business's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.22 earnings per share. Analysts forecast that Universal Display Corporation will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, March 17th. This is a positive change from Universal Display's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.0%. Universal Display's dividend payout ratio (DPR) is currently 35.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on OLED shares. Weiss Ratings restated a "hold (c-)" rating on shares of Universal Display in a research note on Wednesday, December 24th. Zacks Research cut shares of Universal Display from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, November 19th. Roth Mkm restated a "buy" rating and set a $180.00 price target on shares of Universal Display in a research note on Friday, February 20th. Citigroup lowered their price objective on shares of Universal Display from $150.00 to $130.00 and set a "neutral" rating for the company in a research note on Tuesday, January 27th. Finally, Needham & Company LLC dropped their price objective on shares of Universal Display from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Friday, February 20th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $151.67.

Universal Display Profile

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.

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