PFG Investments LLC Sells 3,566 Shares of Universal Display Corporation (NASDAQ:OLED)

PFG Investments LLC reduced its stake in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 24.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,022 shares of the semiconductor company's stock after selling 3,566 shares during the period. PFG Investments LLC's holdings in Universal Display were worth $1,537,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in OLED. CIBC Asset Management Inc raised its holdings in Universal Display by 5.2% during the fourth 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 grew its position in shares of Universal Display by 5.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,615 shares of the semiconductor company's stock worth $245,000 after purchasing an additional 85 shares in the last quarter. Arizona State Retirement System raised its stake in Universal Display by 0.7% during 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 during the period. Commonwealth Equity Services LLC lifted its holdings 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 worth $1,475,000 after purchasing an additional 90 shares in the last quarter. Finally, Utah Retirement Systems lifted its holdings in Universal Display by 1.3% in the 4th quarter. Utah Retirement Systems now owns 7,820 shares of the semiconductor company's stock worth $1,143,000 after purchasing an additional 100 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

Universal Display Stock Performance

NASDAQ:OLED traded up $0.37 during trading hours on Wednesday, reaching $156.05. The stock had a trading volume of 378,734 shares, compared to its average volume of 604,653. The stock has a market capitalization of $7.42 billion, a PE ratio of 32.44, a PEG ratio of 1.68 and a beta of 1.50. Universal Display Corporation has a 52 week low of $103.70 and a 52 week high of $237.00. The company has a 50 day moving average price of $143.20 and a two-hundred day moving average price of $144.92.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $154.76 million. During the same quarter in the previous year, the business posted $1.19 earnings per share. Universal Display's quarterly revenue was up .6% on a year-over-year basis. Equities research analysts predict that Universal Display Corporation will post 4.71 EPS for the current year.

Universal Display Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Monday, June 16th. Universal Display's payout ratio is 37.42%.

Analysts Set New Price Targets

OLED has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Universal Display from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Needham & Company LLC restated a "buy" rating and set a $170.00 target price on shares of Universal Display in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Universal Display has an average rating of "Moderate Buy" and a consensus target price of $190.43.

Universal Display Company 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.