Migdal Insurance & Financial Holdings Ltd. Sells 117 Shares of Universal Display Co. (NASDAQ:OLED)

Migdal Insurance & Financial Holdings Ltd. cut its stake in Universal Display Co. (NASDAQ:OLED) by 20.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 467 shares of the semiconductor company’s stock after selling 117 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Universal Display were worth $90,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Guidance Capital Inc. purchased a new stake in Universal Display in the fourth quarter worth about $205,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Universal Display by 6.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,020 shares of the semiconductor company’s stock valued at $2,490,000 after purchasing an additional 827 shares during the last quarter. Cookson Peirce & Co. Inc. purchased a new position in shares of Universal Display in the 4th quarter valued at approximately $228,000. Vontobel Holding Ltd. raised its position in shares of Universal Display by 6.4% in the 4th quarter. Vontobel Holding Ltd. now owns 309,804 shares of the semiconductor company’s stock valued at $59,253,000 after purchasing an additional 18,582 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in Universal Display in the 4th quarter worth approximately $2,333,000. 78.19% of the stock is currently owned by institutional investors.

Universal Display Trading Up 0.7 %

Shares of OLED stock opened at $152.96 on Friday. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of 36.08, a PEG ratio of 1.66 and a beta of 1.45. Universal Display Co. has a twelve month low of $125.98 and a twelve month high of $194.84. The company’s 50-day moving average price is $168.85 and its 200-day moving average price is $169.17.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.11. The firm had revenue of $158.32 million for the quarter, compared to analyst estimates of $161.08 million. Universal Display had a net margin of 35.22% and a return on equity of 14.85%. Universal Display’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.36 EPS. As a group, equities research analysts predict that Universal Display Co. will post 4.72 EPS for the current year.

Universal Display Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Universal Display’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 1.05%. Universal Display’s dividend payout ratio is 37.74%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. TD Cowen increased their price target on shares of Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. TheStreet upgraded shares of Universal Display from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Oppenheimer reiterated an “outperform” rating and issued a $200.00 price target (down previously from $210.00) on shares of Universal Display in a report on Friday, February 23rd. Citigroup reaffirmed a “neutral” rating and set a $180.00 target price (up from $161.00) on shares of Universal Display in a report on Friday, January 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $198.00 target price on shares of Universal Display in a report on Tuesday, March 26th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.86.

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.