Healthcare of Ontario Pension Plan Trust Fund Decreases Stock Holdings in Universal Display Co. (NASDAQ:OLED)

Healthcare of Ontario Pension Plan Trust Fund lowered its position in Universal Display Co. (NASDAQ:OLED - Free Report) by 11.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 44,470 shares of the semiconductor company's stock after selling 5,729 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.09% of Universal Display worth $9,334,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Assetmark Inc. purchased a new stake in Universal Display during the 3rd quarter valued at approximately $29,000. Brooklyn Investment Group purchased a new position in Universal Display during the third quarter valued at $30,000. V Square Quantitative Management LLC bought a new stake in Universal Display in the 3rd quarter valued at $31,000. Nisa Investment Advisors LLC lifted its stake in Universal Display by 60.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 65 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Universal Display during the 2nd quarter valued at about $44,000. Hedge funds and other institutional investors own 78.19% of the company's stock.

Insider Activity

In other news, Director Lawrence Lacerte purchased 742 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director now owns 122,372 shares of the company's stock, valued at $22,135,871.08. This trade represents a 0.61 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OLED. Roth Mkm boosted their target price on Universal Display from $189.00 to $217.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Needham & Company LLC decreased their price objective on Universal Display from $242.00 to $215.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. TD Cowen cut their target price 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. Susquehanna raised their price objective on Universal Display from $170.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday, August 2nd. 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 report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $215.63.

Universal Display Trading Up 2.1 %

Shares of NASDAQ OLED traded up $3.35 during midday trading on Friday, hitting $164.52. The company's stock had a trading volume of 325,448 shares, compared to its average volume of 385,853. Universal Display Co. has a 12-month low of $148.75 and a 12-month high of $237.00. The business's 50 day moving average is $190.97 and its two-hundred day moving average is $195.15. The firm has a market cap of $7.81 billion, a P/E ratio of 33.04, a price-to-earnings-growth 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 company had revenue of $161.63 million for the quarter, compared to analyst estimates of $165.28 million. During the same period last year, the company earned $1.08 earnings per share. Universal Display's quarterly revenue was up 14.6% compared to the same quarter last year. On average, analysts predict that Universal Display Co. will post 4.8 earnings per share for the current fiscal year.

Universal Display Announces Dividend

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