Aureus Asset Management LLC Acquires New Holdings in Universal Display Co. (NASDAQ:OLED)

Aureus Asset Management LLC bought a new position in Universal Display Co. (NASDAQ:OLED) in the third quarter, HoldingsChannel.com reports. The fund bought 1,054 shares of the semiconductor company’s stock, valued at approximately $221,000.

A number of other hedge funds have also added to or reduced their stakes in OLED. Assetmark Inc. purchased a new stake in shares of Universal Display during the 3rd quarter valued at about $29,000. Brooklyn Investment Group purchased a new position in shares of Universal Display in the third quarter worth approximately $30,000. V Square Quantitative Management LLC bought a new stake in Universal Display during the third quarter valued at approximately $31,000. True Wealth Design LLC purchased a new stake in Universal Display during the third quarter valued at approximately $36,000. Finally, Nisa Investment Advisors LLC raised its position in Universal Display by 60.2% in the third quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 65 shares during the period. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Universal Display Stock Performance

Shares of OLED stock opened at $165.61 on Tuesday. The stock has a fifty day simple moving average of $190.97 and a two-hundred day simple moving average of $195.43. The firm has a market capitalization of $7.86 billion, a PE ratio of 33.26, a PEG ratio of 1.76 and a beta of 1.40. 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, topping the consensus estimate of $1.19 by $0.21. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The business had revenue of $161.63 million for the quarter, compared to analysts’ expectations of $165.28 million. During the same quarter in the previous year, the company earned $1.08 EPS. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, sell-side analysts forecast that Universal Display Co. will post 4.8 EPS for the current fiscal year.

Universal Display Announces Dividend

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

Insiders Place Their Bets

In other Universal Display news, Director Lawrence Lacerte acquired 742 shares of the company’s stock in a transaction on Monday, November 4th. The stock was acquired at an average cost of $180.89 per share, with a total value 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. This represents a 0.61 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on OLED shares. TD Cowen cut their price objective 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. Needham & Company LLC cut their price target on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, Oppenheimer reduced their price target 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. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Universal Display presently has an average rating of “Moderate Buy” and an average target price of $215.63.

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.