Griffin Asset Management Inc. Sells 1,294 Shares of Universal Display Co. (NASDAQ:OLED)

Griffin Asset Management Inc. lowered its holdings in Universal Display Co. (NASDAQ:OLED) by 0.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 510,336 shares of the semiconductor company’s stock after selling 1,294 shares during the period. Universal Display makes up 10.3% of Griffin Asset Management Inc.’s portfolio, making the stock its biggest position. Griffin Asset Management Inc. owned about 1.08% of Universal Display worth $85,966,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tsfg LLC purchased a new position in Universal Display during the first quarter valued at approximately $34,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Universal Display by 0.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 132,024 shares of the semiconductor company’s stock valued at $22,239,000 after buying an additional 399 shares during the period. Cardinal Capital Management grew its holdings in shares of Universal Display by 16.1% during the 1st quarter. Cardinal Capital Management now owns 8,389 shares of the semiconductor company’s stock valued at $1,413,000 after acquiring an additional 1,161 shares in the last quarter. Red Spruce Capital LLC increased its stake in shares of Universal Display by 13.2% in the first quarter. Red Spruce Capital LLC now owns 11,070 shares of the semiconductor company’s stock worth $1,865,000 after acquiring an additional 1,290 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Universal Display by 5.7% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 42,560 shares of the semiconductor company’s stock worth $8,140,000 after acquiring an additional 2,300 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Insiders Place Their Bets

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

Universal Display Stock Performance

Shares of OLED traded up $2.66 during trading hours on Friday, hitting $210.25. 455,769 shares of the company were exchanged, compared to its average volume of 355,545. The firm’s 50 day moving average is $181.10 and its 200-day moving average is $176.62. Universal Display Co. has a 52 week low of $133.67 and a 52 week high of $212.46. The company has a market cap of $9.97 billion, a PE ratio of 45.71, a PEG ratio of 2.25 and a beta of 1.47.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.14. Universal Display had a return on equity of 15.57% and a net margin of 36.00%. The firm had revenue of $165.26 million during the quarter, compared to analysts’ expectations of $150.75 million. During the same quarter in the prior year, the business earned $0.83 earnings per share. The company’s revenue was up 26.7% on a year-over-year basis. As a group, equities analysts forecast that Universal Display Co. will post 4.75 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.40 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 0.76%. Universal Display’s dividend payout ratio (DPR) is presently 34.78%.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC restated a “buy” rating and issued a $198.00 target price on shares of Universal Display in a research note on Friday, May 3rd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $199.86.

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.