Parsons Capital Management Inc. RI Cuts Stake in Universal Display Co. (NASDAQ:OLED)

Parsons Capital Management Inc. RI cut its holdings in Universal Display Co. (NASDAQ:OLED) by 11.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,264 shares of the semiconductor company’s stock after selling 575 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Universal Display were worth $623,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its position in shares of Universal Display by 190.8% in the 2nd quarter. AQR Capital Management LLC now owns 62,723 shares of the semiconductor company’s stock worth $13,178,000 after purchasing an additional 41,154 shares during the period. Creative Planning lifted its holdings in Universal Display by 3.5% during the second quarter. Creative Planning now owns 13,274 shares of the semiconductor company’s stock worth $2,791,000 after buying an additional 445 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in Universal Display during the second quarter worth $273,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Universal Display by 2.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 50,199 shares of the semiconductor company’s stock valued at $10,554,000 after acquiring an additional 1,073 shares in the last quarter. Finally, Curbstone Financial Management Corp increased its holdings in shares of Universal Display by 7.7% in the 3rd quarter. Curbstone Financial Management Corp now owns 2,810 shares of the semiconductor company’s stock valued at $590,000 after acquiring an additional 200 shares during the period. 78.19% of the stock is currently owned by institutional investors.

Universal Display Stock Performance

Shares of NASDAQ OLED opened at $145.19 on Wednesday. Universal Display Co. has a fifty-two week low of $142.50 and a fifty-two week high of $237.00. The company has a market cap of $6.89 billion, a PE ratio of 29.15, a P/E/G ratio of 1.62 and a beta of 1.40. The business has a 50-day simple moving average of $154.43 and a two-hundred day simple moving average of $182.26.

Universal Display (NASDAQ:OLED) 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 company 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%. Universal Display’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 EPS. On average, sell-side analysts predict that Universal Display Co. will post 4.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on OLED. Needham & Company LLC reaffirmed a “buy” rating and set a $215.00 price objective on shares of Universal Display in a research report on Thursday, January 16th. TD Cowen decreased their price target on shares of 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 cut their price objective on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $212.50.

Insider Transactions at Universal Display

In other news, Director Lawrence Lacerte bought 742 shares of Universal Display stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average price of $180.89 per share, for a total transaction of $134,220.38. Following the purchase, the director now directly owns 122,372 shares of the company’s stock, valued at approximately $22,135,871.08. The trade was a 0.61 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

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.