TimesSquare Capital Management LLC Sells 49,720 Shares of Universal Display Co. (NASDAQ:OLED)

TimesSquare Capital Management LLC trimmed its position in shares of Universal Display Co. (NASDAQ:OLED - Free Report) by 29.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,789 shares of the semiconductor company's stock after selling 49,720 shares during the period. TimesSquare Capital Management LLC owned approximately 0.25% of Universal Display worth $24,514,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its holdings in 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 purchasing an additional 158 shares in the last quarter. Empowered Funds LLC bought a new position in Universal Display in the 1st quarter valued at approximately $202,000. Meeder Asset Management Inc. acquired a new stake in Universal Display during the 1st quarter worth approximately $1,001,000. Inspire Investing LLC grew its holdings in Universal Display by 5.4% during the 1st quarter. Inspire Investing LLC now owns 2,107 shares of the semiconductor company's stock worth $355,000 after acquiring an additional 108 shares during the last quarter. Finally, Headlands Technologies LLC increased its position in Universal Display by 599.2% in the 1st quarter. Headlands Technologies LLC now owns 1,755 shares of the semiconductor company's stock valued at $296,000 after acquiring an additional 1,504 shares during the period. 78.19% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Universal Display news, Director Lawrence Lacerte acquired 742 shares of the stock in a transaction dated 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 acquisition, the director now owns 122,372 shares in the company, valued at $22,135,871.08. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.90% of the company's stock.

Universal Display Stock Down 2.8 %

OLED stock traded down $4.96 during midday trading on Monday, reaching $174.92. 609,672 shares of the company's stock traded hands, compared to its average volume of 372,981. The firm's fifty day moving average price is $200.10 and its 200-day moving average price is $195.67. Universal Display Co. has a 52 week low of $148.75 and a 52 week high of $237.00. The company has a market cap of $8.30 billion, a price-to-earnings ratio of 35.12, a P/E/G ratio of 1.93 and a beta of 1.43.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.21. The firm 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%. The company's revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.08 EPS. Analysts forecast that Universal Display Co. will post 4.79 earnings per share for the current year.

Universal Display Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 0.91%. Universal Display's dividend payout ratio is presently 32.13%.

Wall Street Analyst Weigh In

OLED has been the subject of several analyst reports. Roth Mkm raised 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. Susquehanna upped their target price on Universal Display from $170.00 to $175.00 and gave the company a "neutral" rating in a report on Friday, August 2nd. Needham & Company LLC dropped their price target on shares of Universal Display from $242.00 to $215.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. The Goldman Sachs Group upped their price objective on shares of Universal Display from $208.00 to $243.00 and gave the company a "buy" rating in a research note on Thursday, July 18th. Finally, Oppenheimer dropped their target price on shares of Universal Display from $240.00 to $220.00 and set an "outperform" rating on the stock in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Universal Display presently has an average rating of "Moderate Buy" and an average target price of $215.63.

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.