Princeton Capital Management LLC Sells 1,986 Shares of Universal Display Co. (NASDAQ:OLED)

Princeton Capital Management LLC reduced its position in Universal Display Co. (NASDAQ:OLED) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,892 shares of the semiconductor company’s stock after selling 1,986 shares during the quarter. Universal Display comprises approximately 2.1% of Princeton Capital Management LLC’s investment portfolio, making the stock its 9th largest position. Princeton Capital Management LLC’s holdings in Universal Display were worth $6,856,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OLED. Vanguard Group Inc. raised its position in shares of Universal Display by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 4,784,099 shares of the semiconductor company’s stock valued at $699,435,000 after buying an additional 67,590 shares during the last quarter. Geode Capital Management LLC raised its holdings in Universal Display by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 799,352 shares of the semiconductor company’s stock valued at $167,825,000 after acquiring an additional 15,015 shares during the last quarter. Jennison Associates LLC lifted its stake in Universal Display by 58.2% in the 4th quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock worth $99,975,000 after purchasing an additional 251,557 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Universal Display by 10.7% during the 4th quarter. Bank of New York Mellon Corp now owns 437,592 shares of the semiconductor company’s stock worth $63,976,000 after purchasing an additional 42,218 shares during the last quarter. Finally, Southpoint Capital Advisors LP grew its position in shares of Universal Display by 46.0% in the third quarter. Southpoint Capital Advisors LP now owns 365,000 shares of the semiconductor company’s stock valued at $76,614,000 after purchasing an additional 115,000 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Price Performance

Shares of OLED stock opened at $153.54 on Tuesday. Universal Display Co. has a 1-year low of $140.17 and a 1-year high of $237.00. The firm has a market cap of $7.29 billion, a PE ratio of 33.02, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. The company has a 50-day moving average of $149.27 and a two-hundred day moving average of $169.04.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.14. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The firm had revenue of $162.29 million during the quarter, compared to the consensus estimate of $152.75 million. Sell-side analysts anticipate that Universal Display Co. will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.45 dividend. This is an increase from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 1.17%. The ex-dividend date is Monday, March 17th. Universal Display’s payout ratio is currently 38.71%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on OLED shares. Roth Mkm lifted their price objective on Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Oppenheimer reduced their price target on Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, January 2nd. Needham & Company LLC dropped their price objective on shares of Universal Display from $215.00 to $170.00 and set a “buy” rating for the company in a report on Friday, February 21st. Susquehanna reduced their target price on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Finally, The Goldman Sachs Group dropped their price target on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $190.43.

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.