Universal Display Co. (NASDAQ:OLED) Shares Sold by Algert Global LLC

Algert Global LLC decreased its stake in Universal Display Co. (NASDAQ:OLED - Free Report) by 37.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,031 shares of the semiconductor company's stock after selling 16,704 shares during the quarter. Algert Global LLC owned about 0.06% of Universal Display worth $5,884,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Assetmark Inc. purchased a new stake in shares of Universal Display in the third quarter valued at $29,000. V Square Quantitative Management LLC bought a new stake in Universal Display in the third quarter worth about $31,000. Nisa Investment Advisors LLC boosted its position in shares of Universal Display by 60.2% during the third quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company's stock valued at $36,000 after buying an additional 65 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of Universal Display during the second quarter valued at approximately $44,000. Finally, Tortoise Investment Management LLC purchased a new stake in shares of Universal Display in the second quarter worth approximately $47,000. Institutional investors own 78.19% of the company's stock.

Analysts Set New Price Targets

OLED has been the subject of a number of recent analyst reports. Oppenheimer dropped their price objective on Universal Display from $240.00 to $220.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Roth Mkm raised their price target on shares of Universal Display from $189.00 to $217.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Needham & Company LLC decreased their price objective on shares of Universal Display from $242.00 to $215.00 and set a "buy" rating for the company in a report on Thursday, October 31st. Susquehanna upped their target price on shares of Universal Display from $170.00 to $175.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. Finally, TD Cowen decreased their price target on shares of Universal Display from $250.00 to $225.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Universal Display currently has an average rating of "Moderate Buy" and an average target price of $215.63.

Universal Display Stock Up 0.8 %

Shares of NASDAQ OLED traded up $1.35 during midday trading on Friday, reaching $168.41. 449,720 shares of the company's stock traded hands, compared to its average volume of 562,851. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 33.82, a P/E/G ratio of 1.80 and a beta of 1.43. Universal Display Co. has a one year low of $148.75 and a one year high of $237.00. The stock's 50 day simple moving average is $195.31 and its 200-day simple moving average is $195.64.

Universal Display (NASDAQ:OLED - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.19 by $0.21. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The firm had revenue of $161.63 million during the quarter, compared to analyst estimates of $165.28 million. During the same period in the previous year, the company posted $1.08 EPS. The business's revenue for the quarter was up 14.6% compared to the same quarter last year. Equities analysts predict that Universal Display Co. will post 4.8 EPS for the current fiscal year.

Universal Display Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Tuesday, December 17th. Universal Display's payout ratio is currently 32.13%.

Insider Buying and Selling

In other Universal Display news, Director Lawrence Lacerte purchased 742 shares of the stock in a transaction on Monday, November 4th. The stock was acquired at an average price of $180.89 per share, with a total value of $134,220.38. Following the completion of the acquisition, the director now owns 122,372 shares in the company, valued at $22,135,871.08. The trade was a 0.61 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.90% of the stock is currently owned by company 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.