American International Group Inc. Lowers Stake in Universal Display Co. (NASDAQ:OLED)

American International Group Inc. reduced its stake in shares of Universal Display Co. (NASDAQ:OLED) by 2.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,878 shares of the semiconductor company’s stock after selling 1,183 shares during the quarter. American International Group Inc.’s holdings in Universal Display were worth $9,750,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Peapack Gladstone Financial Corp boosted its stake in shares of Universal Display by 1.8% during the fourth quarter. Peapack Gladstone Financial Corp now owns 3,367 shares of the semiconductor company’s stock valued at $643,000 after purchasing an additional 60 shares during the period. 1492 Capital Management LLC boosted its stake in shares of Universal Display by 0.8% during the fourth quarter. 1492 Capital Management LLC now owns 9,543 shares of the semiconductor company’s stock valued at $1,825,000 after purchasing an additional 79 shares during the period. Spire Wealth Management boosted its stake in shares of Universal Display by 11.1% during the first quarter. Spire Wealth Management now owns 1,000 shares of the semiconductor company’s stock valued at $168,000 after purchasing an additional 100 shares during the period. Bahl & Gaynor Inc. lifted its stake in Universal Display by 0.5% in the first quarter. Bahl & Gaynor Inc. now owns 18,645 shares of the semiconductor company’s stock worth $3,141,000 after acquiring an additional 101 shares during the period. Finally, CWM LLC lifted its stake in Universal Display by 21.0% in the fourth quarter. CWM LLC now owns 606 shares of the semiconductor company’s stock worth $116,000 after acquiring an additional 105 shares during the period. 78.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Mauro Premutico sold 8,202 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the transaction, the senior vice president now owns 28,743 shares in the company, valued at $5,082,337.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Mauro Premutico sold 8,202 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the transaction, the senior vice president now owns 28,743 shares in the company, valued at $5,082,337.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Julia J. Brown sold 10,358 shares of the company’s stock in a transaction dated 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 approximately $9,909,200. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Universal Display Price Performance

Shares of OLED stock traded up $1.58 during mid-day trading on Thursday, hitting $225.65. 235,660 shares of the stock traded hands, compared to its average volume of 305,257. The stock has a market cap of $10.70 billion, a P/E ratio of 48.71, a P/E/G ratio of 2.49 and a beta of 1.42. The stock’s fifty day moving average is $201.70 and its two-hundred day moving average is $181.04. Universal Display Co. has a 52-week low of $133.67 and a 52-week high of $237.00.

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

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.71%. Universal Display’s dividend payout ratio (DPR) is currently 34.78%.

Analyst Upgrades and Downgrades

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

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.