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

MQS Management LLC reduced its position in Universal Display Co. (NASDAQ:OLED) by 30.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,426 shares of the semiconductor company’s stock after selling 625 shares during the quarter. MQS Management LLC’s holdings in Universal Display were worth $240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. purchased a new stake in Universal Display in the 4th quarter worth about $25,000. ORG Partners LLC purchased a new position in shares of Universal Display in the first quarter worth about $27,000. Principal Securities Inc. purchased a new position in shares of Universal Display in the fourth quarter worth about $34,000. Tsfg LLC bought a new stake in shares of Universal Display in the first quarter valued at approximately $34,000. Finally, University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Universal Display during the 4th quarter valued at approximately $35,000. 78.19% of the stock is currently owned by institutional investors.

Insider Activity

In other Universal Display news, EVP Julia J. Brown sold 10,358 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $175.00, for a total transaction of $1,812,650.00. Following the sale, the executive vice president now owns 56,624 shares in the company, valued at $9,909,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Universal Display news, SVP Mauro Premutico sold 8,202 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $176.82, for a total value of $1,450,277.64. Following the completion of the sale, the senior vice president now owns 28,743 shares of the company’s stock, valued at $5,082,337.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Julia J. Brown sold 10,358 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $175.00, for a total transaction of $1,812,650.00. Following the transaction, the executive vice president now owns 56,624 shares in the company, valued at $9,909,200. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Oppenheimer increased their price objective on Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, July 3rd. Finally, Needham & Company LLC raised their target price on Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Universal Display presently has a consensus rating of “Moderate Buy” and an average target price of $221.57.

Universal Display Price Performance

NASDAQ OLED traded down $2.16 during trading on Thursday, reaching $221.91. The company’s stock had a trading volume of 624,274 shares, compared to its average volume of 307,789. The firm has a fifty day moving average of $202.67 and a 200 day moving average of $181.32. Universal Display Co. has a one year low of $133.67 and a one year high of $237.00. The stock has a market capitalization of $10.53 billion, a PE ratio of 48.24, a P/E/G ratio of 2.49 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.05 by $0.14. The company had revenue of $165.26 million during the quarter, compared to analyst estimates of $150.75 million. Universal Display had a return on equity of 15.57% and a net margin of 36.00%. Universal Display’s revenue was up 26.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.83 earnings per share. Research analysts expect that Universal Display Co. will post 4.78 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Friday, June 14th. Universal Display’s payout ratio is 34.78%.

About Universal Display

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.