Montanaro Asset Management Ltd Purchases 43,330 Shares of Universal Display Co. (NASDAQ:OLED)

Montanaro Asset Management Ltd boosted its holdings in shares of Universal Display Co. (NASDAQ:OLED - Free Report) by 217.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,260 shares of the semiconductor company's stock after purchasing an additional 43,330 shares during the quarter. Universal Display comprises approximately 2.4% of Montanaro Asset Management Ltd's holdings, making the stock its 17th largest position. Montanaro Asset Management Ltd owned about 0.13% of Universal Display worth $13,278,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in OLED. GSA Capital Partners LLP acquired a new position in shares of Universal Display in the 1st quarter worth approximately $714,000. Geneos Wealth Management Inc. raised its holdings in shares of Universal Display by 210.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 233 shares of the semiconductor company's stock worth $39,000 after buying an additional 158 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Universal Display in the 1st quarter worth approximately $202,000. Montag A & Associates Inc. raised its holdings in shares of Universal Display by 28.9% in the 1st quarter. Montag A & Associates Inc. now owns 11,848 shares of the semiconductor company's stock worth $1,996,000 after buying an additional 2,655 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Universal Display in the 1st quarter worth approximately $1,001,000. Institutional investors own 78.19% of the company's stock.

Wall Street Analysts Forecast Growth

OLED has been the subject of a number of recent analyst reports. TD Cowen dropped their price target on Universal Display from $250.00 to $225.00 and set a "buy" rating for the company in a report on Thursday, October 31st. Oppenheimer dropped their price target on Universal Display from $240.00 to $220.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Needham & Company LLC lowered their target price 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 lifted their target price 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, Roth Mkm lifted their target price on Universal Display from $189.00 to $217.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Universal Display presently has a consensus rating of "Moderate Buy" and an average target price of $215.63.

Insiders Place Their Bets

In other news, Director Lawrence Lacerte bought 742 shares of the firm's stock in a transaction dated Monday, November 4th. The shares were bought at an average price of $180.89 per share, with a total value 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 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.90% of the company's stock.

Universal Display Stock Performance

OLED traded down $3.58 on Friday, hitting $179.88. 530,464 shares of the company were exchanged, compared to its average volume of 467,342. Universal Display Co. has a 12 month low of $148.18 and a 12 month high of $237.00. The company has a market cap of $8.54 billion, a PE ratio of 36.12, a PEG ratio of 1.93 and a beta of 1.43. The stock's fifty day moving average is $200.48 and its 200-day moving average is $195.26.

Universal Display (NASDAQ:OLED - Get Free Report) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping 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 business had revenue of $161.63 million for the quarter, compared to analyst estimates of $165.28 million. During the same quarter in the prior year, the company posted $1.08 earnings per share. Universal Display's revenue was up 14.6% on a year-over-year basis. As a group, equities research analysts expect that Universal Display Co. will post 4.79 EPS for the current fiscal year.

Universal Display Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 yield of 0.89%. 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.