Venturi Wealth Management LLC Increases Stake in Universal Display Co. (NASDAQ:OLED)

Venturi Wealth Management LLC raised its position in shares of Universal Display Co. (NASDAQ:OLED) by 316.0% during the 3rd quarter, Holdings Channel reports. The firm owned 1,739 shares of the semiconductor company’s stock after buying an additional 1,321 shares during the quarter. Venturi Wealth Management LLC’s holdings in Universal Display were worth $365,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Assetmark Inc. acquired a new position in Universal Display in the 3rd quarter worth approximately $29,000. V Square Quantitative Management LLC acquired a new stake in shares of Universal Display in the third quarter worth $31,000. Nisa Investment Advisors LLC raised its holdings in shares of Universal Display by 60.2% during the third 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 second quarter valued at $44,000. Finally, Tortoise Investment Management LLC purchased a new stake in Universal Display in the second quarter valued at $47,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Needham & Company LLC lowered their price objective on Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Roth Mkm upped their price objective on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Oppenheimer cut their price target 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. The Goldman Sachs Group increased their price target on Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Susquehanna boosted their price objective on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Universal Display has an average rating of “Moderate Buy” and a consensus target price of $215.63.

Universal Display Price Performance

NASDAQ OLED opened at $172.55 on Wednesday. The stock’s 50 day simple moving average is $199.91 and its 200-day simple moving average is $195.77. The company has a market cap of $8.19 billion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 1.88 and a beta of 1.43. Universal Display Co. has a 1-year low of $148.75 and a 1-year high of $237.00.

Universal Display (NASDAQ:OLED) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.21. The business 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 company’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 earnings per share. On average, equities research analysts anticipate that Universal Display Co. will post 4.79 EPS for the current fiscal year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.40 dividend. 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 0.93%. Universal Display’s dividend payout ratio (DPR) is presently 32.13%.

Insider Activity

In related news, Director Lawrence Lacerte acquired 742 shares of the stock in a transaction on 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 purchase, the director now owns 122,372 shares of the company’s stock, valued at approximately $22,135,871.08. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.

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.