B. Riley Wealth Advisors Inc. grew its stake in Universal Display Co. (NASDAQ:OLED – Free Report) by 35.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,759 shares of the semiconductor company’s stock after purchasing an additional 461 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Universal Display were worth $369,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC boosted its stake in 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 acquiring an additional 65 shares during the period. CIBC Asset Management Inc boosted its stake in Universal Display by 7.6% during the 2nd quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company’s stock valued at $284,000 after purchasing an additional 96 shares during the period. UMB Bank n.a. raised its stake in Universal Display by 42.1% during the 3rd quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock valued at $68,000 after acquiring an additional 96 shares in the last quarter. Glenmede Trust Co. NA raised its stake in shares of Universal Display by 1.6% during the third quarter. Glenmede Trust Co. NA now owns 6,046 shares of the semiconductor company’s stock valued at $1,269,000 after purchasing an additional 97 shares in the last quarter. Finally, Prospera Financial Services Inc lifted its holdings in Universal Display by 4.4% in the third quarter. Prospera Financial Services Inc now owns 2,576 shares of the semiconductor company’s stock worth $542,000 after purchasing an additional 108 shares during the period. Institutional investors own 78.19% of the company’s stock.
Analyst Ratings Changes
A number of analysts have commented on the stock. 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. TD Cowen cut their target price on Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Oppenheimer lowered their price target on Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $210.71.
Insider Transactions at Universal Display
In other news, Director Lawrence Lacerte bought 742 shares of the stock in a transaction on Monday, November 4th. The shares were purchased at an average price of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the purchase, the director now directly owns 122,372 shares of the company’s stock, valued at $22,135,871.08. This trade represents a 0.61 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is owned by insiders.
Universal Display Trading Down 0.7 %
Shares of OLED opened at $149.53 on Friday. Universal Display Co. has a 1-year low of $148.09 and a 1-year high of $237.00. The stock has a market capitalization of $7.10 billion, a P/E ratio of 30.03, a P/E/G ratio of 1.74 and a beta of 1.39. The business’s 50-day moving average price is $176.86 and its 200 day moving average price is $193.47.
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 for the quarter, topping the consensus estimate of $1.19 by $0.21. The business had revenue of $161.63 million for the quarter, compared to the consensus estimate of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period last year, the firm posted $1.08 earnings per share. On average, research analysts predict that Universal Display Co. will post 4.8 earnings per share for the current year.
Universal Display Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.60 annualized dividend and a yield of 1.07%. Universal Display’s dividend payout ratio (DPR) is presently 32.13%.
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.
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