Royal Bank of Canada Sells 26,514 Shares of Universal Display Co. (NASDAQ:OLED)

Royal Bank of Canada lowered its position in shares of Universal Display Co. (NASDAQ:OLED - Free Report) by 21.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 98,715 shares of the semiconductor company's stock after selling 26,514 shares during the quarter. Royal Bank of Canada owned approximately 0.21% of Universal Display worth $14,432,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Brown Brothers Harriman & Co. raised its holdings in Universal Display by 280.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company's stock worth $31,000 after purchasing an additional 154 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Universal Display by 401.9% during the fourth quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company's stock worth $38,000 after buying an additional 209 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Universal Display during the fourth quarter worth approximately $40,000. Farther Finance Advisors LLC raised its stake in shares of Universal Display by 761.1% during the fourth quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company's stock worth $45,000 after buying an additional 274 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of Universal Display by 185.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 357 shares of the semiconductor company's stock worth $52,000 after buying an additional 232 shares during the last quarter. Institutional investors own 78.19% of the company's stock.

Universal Display Price Performance

Shares of Universal Display stock traded down $3.41 during trading hours on Friday, hitting $142.03. The company's stock had a trading volume of 720,554 shares, compared to its average volume of 596,574. The stock has a 50 day moving average of $133.46 and a 200 day moving average of $146.11. Universal Display Co. has a 12 month low of $103.70 and a 12 month high of $237.00. The company has a market capitalization of $6.75 billion, a PE ratio of 30.54, a price-to-earnings-growth ratio of 1.61 and a beta of 1.46.

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

Universal Display Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Monday, June 16th. Universal Display's dividend payout ratio (DPR) is presently 37.42%.

Analyst Upgrades and Downgrades

Several analysts have commented on OLED shares. Susquehanna dropped their target price 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. Citigroup dropped their price objective on Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a report on Monday, February 10th. Roth Mkm upped their price objective on Universal Display from $207.00 to $213.00 and gave the company a "buy" rating in a report on Friday, February 21st. Needham & Company LLC reaffirmed a "buy" rating and issued a $170.00 price target on shares of Universal Display in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group lowered their price target on Universal Display from $234.00 to $203.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Universal Display has an average 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.