UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 208,219 Shares of Universal Display Co. (NASDAQ:OLED)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in Universal Display Co. (NASDAQ:OLED) by 14.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,270,863 shares of the semiconductor company’s stock after selling 208,219 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 2.68% of Universal Display worth $266,754,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Assetmark Inc. purchased a new stake in shares of Universal Display in the third quarter worth about $29,000. Brooklyn Investment Group purchased a new stake in shares of Universal Display during the 3rd quarter worth approximately $30,000. V Square Quantitative Management LLC bought a new position in shares of Universal Display during the 3rd quarter valued at approximately $31,000. Nisa Investment Advisors LLC grew its holdings in shares of Universal Display by 60.2% in the third 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. Finally, Itau Unibanco Holding S.A. bought a new stake in Universal Display in the second quarter worth $44,000. Institutional investors own 78.19% of the company’s stock.

Insider Buying and Selling

In related news, Director Lawrence Lacerte purchased 742 shares of Universal Display stock in a transaction dated Monday, November 4th. The stock was purchased at an average cost of $180.89 per share, with a total value of $134,220.38. Following the transaction, the director now owns 122,372 shares in the company, valued at approximately $22,135,871.08. The trade was a 0.61 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by insiders.

Universal Display Stock Up 2.1 %

Shares of NASDAQ:OLED opened at $164.52 on Friday. The business’s 50 day moving average is $191.91 and its 200 day moving average is $195.21. The stock has a market cap of $7.81 billion, a P/E ratio of 33.04, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43. Universal Display Co. has a 52-week low of $148.75 and a 52-week high of $237.00.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, beating 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 firm had revenue of $161.63 million for the quarter, compared to analyst estimates of $165.28 million. During the same quarter last year, the firm posted $1.08 earnings per share. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, sell-side analysts anticipate that Universal Display Co. will post 4.8 EPS for the current fiscal year.

Universal Display Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.97%. The ex-dividend date is Tuesday, December 17th. Universal Display’s payout ratio is 32.13%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on OLED shares. Roth Mkm boosted their target price on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Susquehanna raised their target price on shares of Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Needham & Company LLC reduced their price objective 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. Oppenheimer dropped their target price on Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, TD Cowen reduced their price target on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $215.63.

Universal Display 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.