Universal Display Co. (NASDAQ:OLED) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its position in shares of Universal Display Co. (NASDAQ:OLED - Free Report) by 1.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 799,352 shares of the semiconductor company's stock after acquiring an additional 15,015 shares during the quarter. Geode Capital Management LLC owned approximately 1.68% of Universal Display worth $167,825,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. M&T Bank Corp lifted its holdings in Universal Display by 12.0% in the 3rd quarter. M&T Bank Corp now owns 2,086 shares of the semiconductor company's stock valued at $438,000 after purchasing an additional 223 shares in the last quarter. Barclays PLC lifted its position in Universal Display by 753.8% during the third quarter. Barclays PLC now owns 212,518 shares of the semiconductor company's stock worth $44,608,000 after buying an additional 187,627 shares in the last quarter. MML Investors Services LLC boosted its stake in Universal Display by 208.8% during the third quarter. MML Investors Services LLC now owns 4,008 shares of the semiconductor company's stock worth $841,000 after buying an additional 2,710 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in Universal Display by 2.6% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 6,721 shares of the semiconductor company's stock valued at $1,411,000 after buying an additional 171 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Universal Display by 5.6% in the 3rd quarter. Wellington Management Group LLP now owns 275,595 shares of the semiconductor company's stock worth $57,847,000 after acquiring an additional 14,726 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OLED. TD Cowen dropped their price objective on shares of Universal Display from $250.00 to $225.00 and set a "buy" rating for the company in a report on Thursday, October 31st. 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 report on Thursday, October 31st. Finally, Needham & Company LLC lowered their price target on Universal Display from $242.00 to $215.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $215.63.

Universal Display Stock Performance

Shares of Universal Display stock traded down $3.68 during trading hours on Monday, reaching $159.12. 1,157,732 shares of the company were exchanged, compared to its average volume of 399,756. The firm has a market cap of $7.55 billion, a PE ratio of 32.84, a PEG ratio of 1.74 and a beta of 1.39. Universal Display Co. has a 1 year low of $148.75 and a 1 year high of $237.00. The stock's fifty day moving average is $181.26 and its 200 day moving average is $194.34.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.21. The company had revenue of $161.63 million for the quarter, compared to the consensus estimate of $165.28 million. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. Universal Display's revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 EPS. Research analysts expect that Universal Display Co. will post 4.8 earnings per share for the current year.

Universal Display Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $1.60 dividend on an annualized basis and a yield of 1.01%. Universal Display's dividend payout ratio is currently 32.13%.

Insiders Place Their Bets

In other Universal Display news, Director Lawrence Lacerte purchased 742 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average cost of $180.89 per share, with a total value of $134,220.38. Following the completion of the acquisition, the director now directly owns 122,372 shares of the company's stock, valued at $22,135,871.08. This trade represents a 0.61 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.