Jennison Associates LLC decreased its holdings in Universal Display Co. (NASDAQ:OLED - Free Report) by 21.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 432,265 shares of the semiconductor company's stock after selling 117,304 shares during the quarter. Jennison Associates LLC owned about 0.91% of Universal Display worth $90,732,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. purchased a new stake in shares of Universal Display during the third quarter worth about $29,000. V Square Quantitative Management LLC acquired a new stake in Universal Display in the 3rd quarter worth approximately $31,000. Nisa Investment Advisors LLC grew its position in Universal Display by 60.2% during 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 during the last quarter. Itau Unibanco Holding S.A. acquired a new position in Universal Display during the 2nd quarter valued at approximately $44,000. Finally, Tortoise Investment Management LLC purchased a new position in shares of Universal Display in the second quarter worth $47,000. 78.19% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Universal Display
In related news, Director Lawrence Lacerte acquired 742 shares of Universal Display stock in a transaction on Monday, November 4th. The stock was bought 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 approximately $22,135,871.08. The trade was a 0.61 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 1.90% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the stock. TD Cowen dropped their price objective on shares of Universal Display from $250.00 to $225.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. Susquehanna boosted their price target on Universal Display from $170.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday, August 2nd. Oppenheimer reduced their price objective on Universal Display from $240.00 to $220.00 and set an "outperform" rating for the company in a research note on Thursday, October 31st. Roth Mkm lifted their target price on Universal Display from $189.00 to $217.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Finally, 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 report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Universal Display currently has a consensus rating of "Moderate Buy" and an average target price of $215.63.
Get Our Latest Analysis on Universal Display
Universal Display Trading Up 0.1 %
Shares of NASDAQ:OLED opened at $166.00 on Thursday. Universal Display Co. has a 12-month low of $148.75 and a 12-month high of $237.00. The business has a 50 day moving average of $196.85 and a two-hundred day moving average of $195.75. The company has a market capitalization of $7.88 billion, a PE ratio of 33.31, a PEG ratio of 1.76 and a beta of 1.43.
Universal Display (NASDAQ:OLED - Get Free Report) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.21. The firm had revenue of $161.63 million during the quarter, compared to analysts' expectations of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The business's revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 EPS. Equities research analysts predict that Universal Display Co. will post 4.79 earnings per share for the current fiscal year.
Universal Display Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend 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
(
Free Report)
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.
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