Truvestments Capital LLC Trims Stock Holdings in Universal Display Co. (NASDAQ:OLED)

Truvestments Capital LLC reduced its stake in Universal Display Co. (NASDAQ:OLED) by 15.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 521 shares of the semiconductor company’s stock after selling 97 shares during the period. Truvestments Capital LLC’s holdings in Universal Display were worth $88,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

OLED has been the topic of a number of recent research reports. Oppenheimer increased their target price on Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, July 3rd. Needham & Company LLC increased their target price on Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Finally, The Goldman Sachs Group increased their target price on Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Two research 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, Universal Display currently has an average rating of “Moderate Buy” and a consensus target price of $221.57.

Universal Display Stock Performance

Shares of NASDAQ OLED traded up $6.48 during trading on Friday, hitting $228.39. The company had a trading volume of 553,441 shares, compared to its average volume of 358,345. The stock has a 50 day simple moving average of $203.77 and a 200 day simple moving average of $181.69. Universal Display Co. has a 12 month low of $133.67 and a 12 month high of $237.00. The firm has a market capitalization of $10.83 billion, a P/E ratio of 49.65, a price-to-earnings-growth ratio of 2.46 and a beta of 1.42.

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

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Friday, June 14th. Universal Display’s dividend payout ratio (DPR) is presently 34.78%.

Insider Activity at Universal Display

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

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.