Bridgewater Associates LP Buys New Holdings in Universal Display Co. (NASDAQ:OLED)

Bridgewater Associates LP acquired a new stake in Universal Display Co. (NASDAQ:OLED) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 39,715 shares of the semiconductor company’s stock, valued at approximately $8,336,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Universal Display in the second quarter valued at $127,668,000. Citigroup Inc. grew its stake in Universal Display by 1,387.6% during the 3rd quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company’s stock worth $54,936,000 after buying an additional 244,129 shares during the last quarter. Raymond James & Associates grew its position in shares of Universal Display by 629.9% during the third quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock worth $56,550,000 after acquiring an additional 232,503 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Universal Display in the 2nd quarter valued at $34,558,000. Finally, Strategic Financial Concepts LLC purchased a new stake in Universal Display in the 2nd quarter valued at $23,500,000. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Lawrence Lacerte acquired 742 shares of Universal Display stock in a transaction that occurred on Monday, November 4th. The shares were acquired 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 0.61 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Oppenheimer lowered their target price on Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Susquehanna raised 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. TD Cowen lowered their price target on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Needham & Company LLC lowered their target price 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. Finally, Roth Mkm lifted their price target on shares of Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $215.63.

Universal Display Price Performance

Shares of OLED opened at $161.17 on Friday. Universal Display Co. has a 1-year low of $148.75 and a 1-year high of $237.00. The firm has a 50 day simple moving average of $192.90 and a 200-day simple moving average of $195.44. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 32.36, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share 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 company had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. During the same quarter last year, the business posted $1.08 earnings per share. Universal Display’s revenue was up 14.6% compared to the same quarter last year. On average, equities analysts expect that Universal Display Co. will post 4.8 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued 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 0.99%. Universal Display’s dividend payout ratio (DPR) is 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.