State Street Corp Sells 27,235 Shares of Universal Display Co. (NASDAQ:OLED)

State Street Corp reduced its stake in shares of Universal Display Co. (NASDAQ:OLED) by 1.8% in the third quarter, HoldingsChannel.com reports. The fund owned 1,528,783 shares of the semiconductor company’s stock after selling 27,235 shares during the quarter. State Street Corp’s holdings in Universal Display were worth $320,892,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OLED. Glenmede Trust Co. NA lifted its stake in Universal Display by 1.6% during the third quarter. Glenmede Trust Co. NA now owns 6,046 shares of the semiconductor company’s stock worth $1,269,000 after purchasing an additional 97 shares during the last quarter. BNP Paribas Financial Markets grew its position in Universal Display by 8.8% during the third quarter. BNP Paribas Financial Markets now owns 52,713 shares of the semiconductor company’s stock valued at $11,064,000 after acquiring an additional 4,269 shares during the last quarter. Montanaro Asset Management Ltd raised its stake in shares of Universal Display by 217.4% during the third quarter. Montanaro Asset Management Ltd now owns 63,260 shares of the semiconductor company’s stock worth $13,278,000 after acquiring an additional 43,330 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Universal Display by 385.2% in the 3rd quarter. Cerity Partners LLC now owns 8,588 shares of the semiconductor company’s stock worth $1,803,000 after acquiring an additional 6,818 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Universal Display by 117.2% in the 2nd quarter. ProShare Advisors LLC now owns 18,762 shares of the semiconductor company’s stock valued at $3,945,000 after purchasing an additional 10,122 shares in the last quarter. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Oppenheimer decreased their price target 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. 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 note on Thursday, October 31st. Finally, Needham & Company LLC dropped 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 note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $215.63.

Universal Display Stock Performance

Shares of Universal Display stock opened at $155.30 on Wednesday. The company has a 50-day simple moving average of $184.11 and a two-hundred day simple moving average of $194.68. The stock has a market capitalization of $7.37 billion, a PE ratio of 31.18, a price-to-earnings-growth ratio of 1.69 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 data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.21. The company had revenue of $161.63 million during the quarter, compared to analyst estimates of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.08 EPS. As a group, equities research analysts forecast that Universal Display Co. will post 4.8 EPS for the current fiscal year.

Universal Display Announces Dividend

The business 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. This represents a $1.60 annualized dividend and a yield of 1.03%. The ex-dividend date is Tuesday, December 17th. Universal Display’s dividend payout ratio is currently 32.13%.

Insider Transactions at Universal Display

In related news, Director Lawrence Lacerte acquired 742 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average price of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the transaction, the director now directly owns 122,372 shares in the company, valued at approximately $22,135,871.08. This trade represents a 0.61 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.