Handelsbanken Fonder AB Sells 169,878 Shares of Universal Display Co. (NASDAQ:OLED)

Handelsbanken Fonder AB reduced its stake in Universal Display Co. (NASDAQ:OLED - Free Report) by 93.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,400 shares of the semiconductor company's stock after selling 169,878 shares during the quarter. Handelsbanken Fonder AB's holdings in Universal Display were worth $1,730,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Orion Capital Management LLC acquired a new stake in Universal Display during the fourth quarter worth about $29,000. Brown Brothers Harriman & Co. lifted 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 buying an additional 154 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Universal Display by 401.9% in the 4th quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 209 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Universal Display in the 4th quarter valued at approximately $40,000. Finally, Farther Finance Advisors LLC increased its position in Universal Display by 761.1% in the 4th quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company's stock valued at $45,000 after acquiring an additional 274 shares during the period. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on OLED shares. Wall Street Zen upgraded Universal Display from a "sell" rating to a "hold" rating in a research report on Friday, May 2nd. Susquehanna reduced their target price on Universal Display from $165.00 to $160.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Needham & Company LLC reiterated a "buy" rating and set a $170.00 target price on shares of Universal Display in a report on Friday, May 2nd. Finally, Roth Mkm lifted their price target on Universal Display from $207.00 to $213.00 and gave the stock a "buy" rating in a report on Friday, February 21st. 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $190.43.

Universal Display Stock Performance

Shares of NASDAQ OLED traded down $5.61 during midday trading on Friday, hitting $153.52. 559,041 shares of the company traded hands, compared to its average volume of 601,611. Universal Display Co. has a 12-month low of $103.70 and a 12-month high of $237.00. The stock has a 50-day moving average price of $137.93 and a 200 day moving average price of $145.31. The firm has a market cap of $7.30 billion, a P/E ratio of 33.02, a P/E/G ratio of 1.61 and a beta of 1.50.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $166.28 million during the quarter, compared to analysts' expectations of $154.76 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The company's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.19 earnings per share. As a group, equities analysts expect that Universal Display Co. will post 4.71 earnings per share for the current year.

Universal Display Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.80 annualized dividend and a yield of 1.17%. Universal Display's payout ratio is 37.42%.

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.