Montanaro Asset Management Ltd Sells 22,265 Shares of Universal Display Corporation (NASDAQ:OLED)

Key Points

• Montanaro Asset Management Ltd reduced its stake in Universal Display Corporation by 58.2% in the first quarter, now holding 15,995 shares valued at $2.23 million.
• Universal Display's stock opened at $140.48 with a 52-week range of $103.70 to $215.90, reflecting a 3.4% increase in price.
• The company reported earnings per share of $1.41 for the last quarter, surpassing estimates, alongside a quarterly dividend payment of $0.45 scheduled for September 30th.

Montanaro Asset Management Ltd decreased its stake in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 58.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 15,995 shares of the semiconductor company's stock after selling 22,265 shares during the period. Montanaro Asset Management Ltd's holdings in Universal Display were worth $2,231,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Prudential PLC raised its stake in Universal Display by 2.1% in the 1st quarter. Prudential PLC now owns 4,109 shares of the semiconductor company's stock worth $573,000 after purchasing an additional 83 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Universal Display by 3.8% in the 1st quarter. Bessemer Group Inc. now owns 2,603 shares of the semiconductor company's stock valued at $363,000 after buying an additional 95 shares in the last quarter. Linden Thomas Advisory Services LLC raised its position in shares of Universal Display by 0.8% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 12,319 shares of the semiconductor company's stock valued at $1,718,000 after buying an additional 96 shares in the last quarter. Utah Retirement Systems raised its position in shares of Universal Display by 1.3% in the 4th quarter. Utah Retirement Systems now owns 7,820 shares of the semiconductor company's stock valued at $1,143,000 after buying an additional 100 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of Universal Display by 0.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 12,400 shares of the semiconductor company's stock valued at $1,730,000 after buying an additional 100 shares in the last quarter. Institutional investors own 78.19% of the company's stock.

Universal Display Price Performance

OLED stock traded down $2.11 during trading on Friday, reaching $141.47. 494,156 shares of the company were exchanged, compared to its average volume of 527,663. The company has a 50-day moving average of $151.19 and a two-hundred day moving average of $144.59. The company has a market capitalization of $6.72 billion, a price-to-earnings ratio of 27.63, a P/E/G ratio of 1.53 and a beta of 1.47. Universal Display Corporation has a twelve month low of $103.70 and a twelve month high of $215.90.

Universal Display (NASDAQ:OLED - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.23. The business had revenue of $171.79 million during the quarter, compared to analysts' expectations of $161.58 million. Universal Display had a net margin of 36.95% and a return on equity of 15.82%. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.10 EPS. On average, analysts forecast 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 will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 16th. Universal Display's payout ratio is presently 35.16%.

Analysts Set New Price Targets

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

Universal Display 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.