Quest Partners LLC Sells 2,794 Shares of Universal Display Co. (NASDAQ:OLED)

Quest Partners LLC trimmed its holdings in Universal Display Co. (NASDAQ:OLED) by 63.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,620 shares of the semiconductor company’s stock after selling 2,794 shares during the quarter. Quest Partners LLC’s holdings in Universal Display were worth $341,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OLED. Norges Bank bought a new position in Universal Display in the 4th quarter valued at $101,088,000. Janus Henderson Group PLC boosted its holdings in Universal Display by 66.6% in the first quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock valued at $73,099,000 after acquiring an additional 173,496 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in Universal Display in the second quarter worth about $23,500,000. Van ECK Associates Corp raised its holdings in Universal Display by 33.5% during the 1st quarter. Van ECK Associates Corp now owns 360,714 shares of the semiconductor company’s stock worth $60,762,000 after purchasing an additional 90,530 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in Universal Display by 20.7% during the 4th quarter. First Trust Advisors LP now owns 449,628 shares of the semiconductor company’s stock valued at $85,996,000 after purchasing an additional 76,967 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. TD Cowen lifted their price target on shares of Universal Display from $210.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Oppenheimer upped their target price on shares of Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, July 3rd. Roth Mkm lifted their price objective on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Susquehanna upped their price objective on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group raised their target price on Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Universal Display presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.88.

Universal Display Trading Up 3.0 %

OLED stock opened at $209.15 on Friday. Universal Display Co. has a 1-year low of $133.67 and a 1-year high of $237.00. The business’s 50-day moving average price is $200.17 and its two-hundred day moving average price is $184.40. The firm has a market cap of $9.92 billion, a PE ratio of 45.47, a P/E/G ratio of 2.16 and a beta of 1.41.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.04). Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The business had revenue of $158.50 million for the quarter, compared to the consensus estimate of $159.46 million. During the same quarter last year, the firm earned $1.04 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, analysts forecast that Universal Display Co. will post 4.81 earnings per share for the current year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Monday, September 16th. Universal Display’s dividend payout ratio is 34.78%.

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.