Clearstead Trust LLC Has $215,000 Stake in Universal Display Co. (NASDAQ:OLED)

Clearstead Trust LLC lowered its position in shares of Universal Display Co. (NASDAQ:OLED) by 13.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,125 shares of the semiconductor company’s stock after selling 180 shares during the quarter. Clearstead Trust LLC’s holdings in Universal Display were worth $215,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. bought a new position in Universal Display during the fourth quarter worth $25,000. Orion Capital Management LLC bought a new position in Universal Display in the third quarter worth approximately $31,000. Rise Advisors LLC acquired a new stake in Universal Display in the fourth quarter valued at approximately $57,000. SRS Capital Advisors Inc. increased its position in shares of Universal Display by 282.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 310 shares of the semiconductor company’s stock worth $59,000 after acquiring an additional 229 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of Universal Display in the 4th quarter worth about $73,000. 78.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on OLED. Citigroup reissued a “neutral” rating and set a $180.00 price objective (up from $161.00) on shares of Universal Display in a report on Friday, January 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $198.00 price objective on shares of Universal Display in a report on Friday. Oppenheimer reiterated an “outperform” rating and issued a $200.00 target price (down previously from $210.00) on shares of Universal Display in a report on Friday, February 23rd. Finally, TD Cowen boosted their price target on shares of Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $199.86.

Universal Display Stock Performance

OLED stock traded up $14.50 during mid-day trading on Friday, hitting $170.82. The company had a trading volume of 736,345 shares, compared to its average volume of 256,763. The firm has a market cap of $8.10 billion, a PE ratio of 37.13, a price-to-earnings-growth ratio of 1.86 and a beta of 1.44. Universal Display Co. has a 12 month low of $131.00 and a 12 month high of $194.84. The stock’s fifty day moving average price is $163.28 and its two-hundred day moving average price is $169.05.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.14. Universal Display had a net margin of 36.00% and a return on equity of 15.84%. The company had revenue of $165.26 million for the quarter, compared to analysts’ expectations of $150.75 million. During the same quarter in the previous year, the firm posted $0.83 EPS. Universal Display’s revenue was up 26.7% on a year-over-year basis. Equities analysts anticipate that Universal Display Co. will post 4.74 earnings per share for the current year.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 0.94%. Universal Display’s dividend payout ratio is presently 34.78%.

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.