Royal Bank of Canada Sells 11,526 Shares of Universal Display Corporation $OLED

Royal Bank of Canada trimmed its position in Universal Display Corporation (NASDAQ:OLED) by 7.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,442 shares of the semiconductor company’s stock after selling 11,526 shares during the quarter. Royal Bank of Canada’s holdings in Universal Display were worth $13,607,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Systematic Financial Management LP lifted its stake in Universal Display by 40.2% in the 4th quarter. Systematic Financial Management LP now owns 196,515 shares of the semiconductor company’s stock worth $22,949,000 after purchasing an additional 56,320 shares in the last quarter. Quantinno Capital Management LP grew its position in shares of Universal Display by 776.6% during the 1st quarter. Quantinno Capital Management LP now owns 251,218 shares of the semiconductor company’s stock valued at $23,027,000 after purchasing an additional 222,561 shares in the last quarter. Caxton Associates LLP increased its holdings in shares of Universal Display by 132.6% in the first quarter. Caxton Associates LLP now owns 43,818 shares of the semiconductor company’s stock worth $4,016,000 after purchasing an additional 24,977 shares during the period. Renaissance Technologies LLC bought a new position in shares of Universal Display in the first quarter worth $11,544,000. Finally, UBS Group AG raised its position in shares of Universal Display by 100.8% in the fourth quarter. UBS Group AG now owns 646,787 shares of the semiconductor company’s stock worth $75,532,000 after buying an additional 324,677 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

Universal Display Stock Up 4.5%

Shares of OLED stock opened at $91.19 on Friday. The business has a 50-day moving average price of $84.74 and a two-hundred day moving average price of $95.91. Universal Display Corporation has a 12-month low of $76.42 and a 12-month high of $153.38. The firm has a market cap of $4.19 billion, a P/E ratio of 22.08 and a beta of 1.54.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $1.06 EPS for the quarter, beating the consensus estimate of $1.03 by $0.03. The firm had revenue of $152.16 million for the quarter, compared to analyst estimates of $157.54 million. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The company’s revenue was down 11.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.41 EPS. As a group, research analysts expect that Universal Display Corporation will post 4.18 EPS for the current fiscal year.

Universal Display Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. Universal Display’s dividend payout ratio (DPR) is 48.43%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OLED. Weiss Ratings cut Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Zacks Research lowered Universal Display from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. BTIG Research cut shares of Universal Display to a “neutral” rating in a research report on Friday, July 31st. Citigroup lowered their target price on shares of Universal Display from $100.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. Finally, Oppenheimer reiterated an “outperform” rating and set a $120.00 target price (down from $130.00) on shares of Universal Display in a research report on Friday, July 31st. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $116.33.

Universal Display Company Profile

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.