Universal Display Co. (NASDAQ:OLED) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lessened its stake in shares of Universal Display Co. (NASDAQ:OLED - Free Report) by 4.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,887 shares of the semiconductor company's stock after selling 4,120 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.20% of Universal Display worth $19,917,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. ORG Partners LLC purchased a new stake in Universal Display during the 1st quarter worth $27,000. V Square Quantitative Management LLC purchased a new position in Universal Display in the third quarter valued at about $31,000. Nisa Investment Advisors LLC grew its stake in Universal Display by 60.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 65 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Universal Display by 210.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 233 shares of the semiconductor company's stock worth $39,000 after purchasing an additional 158 shares during the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Universal Display during the 2nd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 78.19% of the company's stock.

Insider Transactions at Universal Display

In related news, Director Lawrence Lacerte acquired 742 shares of Universal Display stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average price 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 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

OLED has been the subject of a number of research analyst reports. TD Cowen dropped their price target on shares of Universal Display from $250.00 to $225.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Needham & Company LLC decreased their price target on Universal Display from $242.00 to $215.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Susquehanna upped 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. The Goldman Sachs Group increased their target price on Universal Display from $208.00 to $243.00 and gave the stock a "buy" rating in a report on Thursday, July 18th. Finally, Roth Mkm boosted their price target on Universal Display from $189.00 to $217.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Universal Display presently has an average rating of "Moderate Buy" and an average target price of $215.63.

Universal Display Stock Performance

Shares of Universal Display stock traded down $2.39 on Thursday, reaching $183.46. 515,125 shares of the company were exchanged, compared to its average volume of 371,067. Universal Display Co. has a 1-year low of $148.18 and a 1-year high of $237.00. The firm has a market cap of $8.71 billion, a price-to-earnings ratio of 36.84, a P/E/G ratio of 1.93 and a beta of 1.43. The company's 50-day moving average is $200.90 and its two-hundred day moving average is $194.86.

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 analysts' consensus estimates 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 analysts' expectations of $165.28 million. During the same period last year, the business posted $1.08 earnings per share. The firm's quarterly revenue was up 14.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Universal Display Co. will post 4.79 earnings per share for the current year.

Universal Display Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.87%. Universal Display's dividend payout ratio (DPR) 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.