Bridgewater Associates LP Acquires Shares of 39,715 Universal Display Co. (NASDAQ:OLED)

Bridgewater Associates LP acquired a new position in Universal Display Co. (NASDAQ:OLED - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 39,715 shares of the semiconductor company's stock, valued at approximately $8,336,000. Bridgewater Associates LP owned approximately 0.08% of Universal Display as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in OLED. Tidal Investments LLC lifted its holdings in shares of Universal Display by 172.0% in the 1st quarter. Tidal Investments LLC now owns 6,246 shares of the semiconductor company's stock worth $1,052,000 after acquiring an additional 3,950 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in Universal Display by 375.1% in the second quarter. Harbor Capital Advisors Inc. now owns 10,043 shares of the semiconductor company's stock worth $2,112,000 after purchasing an additional 7,929 shares during the last quarter. Montanaro Asset Management Ltd boosted its position in shares of Universal Display by 217.4% during the third quarter. Montanaro Asset Management Ltd now owns 63,260 shares of the semiconductor company's stock valued at $13,278,000 after buying an additional 43,330 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of Universal Display during the first quarter valued at approximately $620,000. Finally, ProShare Advisors LLC grew its stake in shares of Universal Display by 117.2% during the second quarter. ProShare Advisors LLC now owns 18,762 shares of the semiconductor company's stock valued at $3,945,000 after buying an additional 10,122 shares during the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Susquehanna upped their target price on Universal Display from $170.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday, August 2nd. TD Cowen cut their target price on Universal Display from $250.00 to $225.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Roth Mkm upped their target price on Universal Display from $189.00 to $217.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Needham & Company LLC cut their target price on Universal Display from $242.00 to $215.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Finally, Oppenheimer cut their target price on Universal Display from $240.00 to $220.00 and set an "outperform" rating on the stock in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $215.63.

Insider Activity

In related news, Director Lawrence Lacerte acquired 742 shares of Universal Display stock in a transaction on Monday, November 4th. The stock was acquired at an average price of $180.89 per share, for a total transaction of $134,220.38. Following the purchase, the director now owns 122,372 shares of the company's stock, valued at approximately $22,135,871.08. This represents a 0.61 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.90% of the company's stock.

Universal Display Stock Up 2.1 %

NASDAQ:OLED traded up $3.35 during midday trading on Friday, hitting $164.52. The stock had a trading volume of 325,448 shares, compared to its average volume of 385,853. Universal Display Co. has a one year low of $148.75 and a one year high of $237.00. The stock has a 50-day moving average of $191.91 and a 200 day moving average of $195.21. The company has a market capitalization of $7.81 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 1.73 and a beta of 1.43.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, beating 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 quarter in the prior year, the business posted $1.08 EPS. The business's revenue for the quarter was up 14.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Universal Display Co. will post 4.8 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.60 annualized dividend and a dividend yield of 0.97%. Universal Display's dividend payout ratio is presently 32.13%.

Universal Display Company 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.