CloudAlpha Capital Management Limited Hong Kong Sells 150,807 Shares of Universal Display Co. (NASDAQ:OLED)

CloudAlpha Capital Management Limited Hong Kong lessened its holdings in shares of Universal Display Co. (NASDAQ:OLED - Free Report) by 91.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,561 shares of the semiconductor company's stock after selling 150,807 shares during the quarter. Universal Display accounts for 0.2% of CloudAlpha Capital Management Limited Hong Kong's portfolio, making the stock its 26th largest position. CloudAlpha Capital Management Limited Hong Kong's holdings in Universal Display were worth $2,846,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of OLED. Vanguard Group Inc. increased its stake in shares of Universal Display by 1.1% in the first quarter. Vanguard Group Inc. now owns 4,567,374 shares of the semiconductor company's stock worth $769,374,000 after purchasing an additional 50,233 shares during the period. Primecap Management Co. CA raised its position in shares of Universal Display by 0.4% during the 2nd quarter. Primecap Management Co. CA now owns 1,895,017 shares of the semiconductor company's stock valued at $398,427,000 after acquiring an additional 7,435 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Universal Display during the 2nd quarter valued at $127,668,000. Van ECK Associates Corp raised its position in shares of Universal Display by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company's stock valued at $101,914,000 after acquiring an additional 108,394 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Universal Display by 27.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company's stock valued at $98,725,000 after acquiring an additional 100,809 shares during the last quarter. Institutional investors own 78.19% of the company's stock.

Insider Activity

In other Universal Display news, Director Lawrence Lacerte acquired 742 shares of the firm's stock in a transaction on Monday, November 4th. The stock was purchased at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the transaction, the director now owns 122,372 shares of the company's stock, valued at $22,135,871.08. The trade was a 0.61 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.90% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on OLED. Susquehanna lifted their price target on shares of Universal Display from $170.00 to $175.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. Needham & Company LLC cut their price target on shares of Universal Display from $242.00 to $215.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. TD Cowen cut their price target on shares of Universal Display from $250.00 to $225.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. The Goldman Sachs Group upped their price target on shares of Universal Display from $208.00 to $243.00 and gave the company a "buy" rating in a research report on Thursday, July 18th. Finally, Roth Mkm upped their price target on shares of Universal Display from $189.00 to $217.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $215.63.

Universal Display Stock Performance

Shares of NASDAQ:OLED traded down $1.16 during midday trading on Thursday, hitting $166.48. The company's stock had a trading volume of 314,020 shares, compared to its average volume of 373,459. The business's 50 day simple moving average is $199.53 and its 200 day simple moving average is $195.57. The company has a market cap of $7.90 billion, a P/E ratio of 33.60, a price-to-earnings-growth ratio of 1.85 and a beta of 1.43. Universal Display Co. has a 12-month low of $148.75 and a 12-month high of $237.00.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.19 by $0.21. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The firm had revenue of $161.63 million during the quarter, compared to analysts' expectations of $165.28 million. During the same quarter in the previous year, the business posted $1.08 earnings per share. The business's quarterly revenue was up 14.6% compared to the same quarter last year. On average, sell-side analysts predict that Universal Display Co. will post 4.79 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Tuesday, December 17th. Universal Display's dividend payout ratio (DPR) is presently 32.13%.

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.