Universal Display Corporation (NASDAQ:OLED) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its stake in Universal Display Corporation (NASDAQ:OLED - Free Report) by 35.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 440,333 shares of the semiconductor company's stock after selling 243,489 shares during the quarter. Jennison Associates LLC owned about 0.93% of Universal Display worth $61,418,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of OLED. Orion Capital Management LLC purchased a new stake in shares of Universal Display during the 4th quarter valued at about $29,000. Brown Brothers Harriman & Co. raised its position in shares of Universal Display by 280.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company's stock valued at $31,000 after buying an additional 154 shares in the last quarter. Golden State Wealth Management LLC raised its position in shares of Universal Display by 4,700.0% during the 1st quarter. Golden State Wealth Management LLC now owns 240 shares of the semiconductor company's stock valued at $33,000 after buying an additional 235 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Universal Display during the 4th quarter valued at about $40,000. Finally, Farther Finance Advisors LLC grew its holdings in Universal Display by 761.1% during the 4th quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company's stock valued at $45,000 after purchasing an additional 274 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on OLED shares. Wall Street Zen upgraded shares of Universal Display from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Needham & Company LLC reiterated a "buy" rating and set a $170.00 price target on shares of Universal Display in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $190.43.

Universal Display Price Performance

OLED stock traded down $0.18 during mid-day trading on Friday, reaching $151.22. The company had a trading volume of 269,413 shares, compared to its average volume of 613,942. The company has a market capitalization of $7.19 billion, a PE ratio of 31.44, a price-to-earnings-growth ratio of 1.64 and a beta of 1.51. The firm has a 50 day moving average of $152.93 and a 200 day moving average of $145.21. Universal Display Corporation has a 12 month low of $103.70 and a 12 month high of $234.16.

Universal Display (NASDAQ:OLED - Get Free Report) last posted its earnings results on Thursday, May 1st. The semiconductor company reported $1.35 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.28. Universal Display had a net margin of 35.40% and a return on equity of 15.35%. The company had revenue of $166.28 million during the quarter, compared to analysts' expectations of $154.76 million. During the same quarter in the prior year, the company posted $1.19 earnings per share. Universal Display's revenue for the quarter was up .6% compared to the same quarter last year. Analysts anticipate that Universal Display Corporation will post 4.71 EPS for the current year.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.19%. Universal Display's dividend payout ratio (DPR) is presently 37.42%.

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.