Voya Investment Management LLC Reduces Stock Holdings in Universal Display Co. (NASDAQ:OLED)

Voya Investment Management LLC decreased its holdings in Universal Display Co. (NASDAQ:OLED - Free Report) by 67.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,730 shares of the semiconductor company's stock after selling 79,354 shares during the quarter. Voya Investment Management LLC owned about 0.08% of Universal Display worth $5,662,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of OLED. Brown Brothers Harriman & Co. grew its holdings 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 worth $31,000 after purchasing an additional 154 shares during the period. Blue Trust Inc. raised its stake in Universal Display by 401.9% during the 4th quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 209 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Universal Display during the fourth quarter worth approximately $40,000. Farther Finance Advisors LLC raised 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 purchasing an additional 274 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased 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 acquiring an additional 232 shares during the period. Institutional investors and hedge funds own 78.19% of the company's stock.

Universal Display Price Performance

Shares of Universal Display stock traded down $3.67 on Tuesday, hitting $139.55. 164,923 shares of the company's stock traded hands, compared to its average volume of 575,016. The company has a fifty day moving average of $135.18 and a two-hundred day moving average of $151.46. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 30.04, a price-to-earnings-growth ratio of 1.61 and a beta of 1.46. Universal Display Co. has a one year low of $103.70 and a one year high of $237.00.

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

Universal Display Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.45 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.29%. Universal Display's payout ratio is 37.42%.

Analyst Upgrades and Downgrades

OLED has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $170.00 target price on shares of Universal Display in a research note on Friday. Citigroup decreased their target price on Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a research note on Monday, February 10th. The Goldman Sachs Group reduced their price target on Universal Display from $234.00 to $203.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Susquehanna lowered their price objective 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. Finally, Roth Mkm increased their target price on shares of 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 stock. According to MarketBeat.com, Universal Display has a consensus rating of "Moderate Buy" and an average 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.