TD Asset Management Inc. trimmed its holdings in Universal Display Co. (NASDAQ:OLED) by 10.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 301,383 shares of the semiconductor company’s stock after selling 36,798 shares during the quarter. TD Asset Management Inc. owned about 0.64% of Universal Display worth $56,678,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Squarepoint Ops LLC purchased a new stake in Universal Display in the fourth quarter valued at approximately $256,000. Dimensional Fund Advisors LP lifted its stake in Universal Display by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 196,113 shares of the semiconductor company’s stock valued at $18,350,000 after buying an additional 7,891 shares during the last quarter. Geode Capital Management LLC lifted its stake in Universal Display by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 431,907 shares of the semiconductor company’s stock valued at $40,413,000 after buying an additional 32,314 shares during the last quarter. Virtu Financial LLC purchased a new stake in Universal Display in the first quarter valued at approximately $376,000. Finally, Louisiana State Employees Retirement System raised its stake in shares of Universal Display by 1.8% during the first quarter. Louisiana State Employees Retirement System now owns 11,400 shares of the semiconductor company’s stock worth $1,742,000 after purchasing an additional 200 shares during the last quarter. 75.79% of the stock is owned by hedge funds and other institutional investors.
OLED stock traded up $1.54 on Thursday, reaching $208.29. 5,569 shares of the company’s stock were exchanged, compared to its average volume of 728,932. The company has a fifty day moving average of $202.41. Universal Display Co. has a twelve month low of $78.78 and a twelve month high of $218.28. The company has a market cap of $9.90 billion, a price-to-earnings ratio of 167.69, a PEG ratio of 2.61 and a beta of 1.53.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date is Friday, September 13th. Universal Display’s dividend payout ratio is presently 32.26%.
OLED has been the subject of several analyst reports. Roth Capital upped their price target on Universal Display from $172.00 to $206.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Citigroup upped their price target on Universal Display from $180.00 to $223.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Needham & Company LLC cut Universal Display from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. ValuEngine cut Universal Display from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 2nd. Finally, Susquehanna Bancshares restated a “neutral” rating and set a $180.00 price target on shares of Universal Display in a research note on Monday, April 29th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $182.46.
In other Universal Display news, Director C Keith Hartley sold 10,528 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $214.27, for a total value of $2,255,834.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sidney D. Rosenblatt sold 33,930 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $182.23, for a total value of $6,183,063.90. The disclosure for this sale can be found here. Insiders sold 177,801 shares of company stock worth $34,646,297 in the last three months. 3.70% of the stock is owned by corporate insiders.
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 flat panel displays and solid-state lighting applications. As of February 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.
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