Tidal Investments LLC Grows Position in Universal Display Co. (NASDAQ:OLED)

Tidal Investments LLC lifted its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 9.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,037 shares of the semiconductor company’s stock after buying an additional 595 shares during the period. Tidal Investments LLC’s holdings in Universal Display were worth $1,477,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. boosted its position in Universal Display by 38.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 1,883 shares of the semiconductor company’s stock worth $396,000 after purchasing an additional 520 shares during the last quarter. Raymond James & Associates boosted its position in Universal Display by 1.8% in the second quarter. Raymond James & Associates now owns 36,911 shares of the semiconductor company’s stock worth $7,760,000 after purchasing an additional 647 shares during the last quarter. Fifth Third Bancorp boosted its position in Universal Display by 45.6% in the second quarter. Fifth Third Bancorp now owns 817 shares of the semiconductor company’s stock worth $172,000 after purchasing an additional 256 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Universal Display in the second quarter worth about $312,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Universal Display in the second quarter worth about $142,000. 78.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on OLED shares. Oppenheimer dropped their target price 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. Needham & Company LLC decreased their price objective on Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, TD Cowen decreased their target price on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $215.63.

Universal Display Price Performance

NASDAQ:OLED opened at $155.85 on Wednesday. Universal Display Co. has a 1 year low of $148.75 and a 1 year high of $237.00. The stock’s 50 day simple moving average is $179.17 and its two-hundred day simple moving average is $194.08. The company has a market cap of $7.40 billion, a price-to-earnings ratio of 31.30, a PEG ratio of 1.74 and a beta of 1.39.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.21. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The business had revenue of $161.63 million for the quarter, compared to the consensus estimate of $165.28 million. During the same quarter in the previous year, the company posted $1.08 EPS. The company’s revenue was up 14.6% compared to the same quarter last year. As a group, analysts anticipate that Universal Display Co. will post 4.8 EPS for the current 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 1.03%. The ex-dividend date of this dividend is Tuesday, December 17th. Universal Display’s payout ratio is 32.13%.

Insiders Place Their Bets

In related news, Director Lawrence Lacerte bought 742 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was purchased at an average price of $180.89 per share, for a total transaction of $134,220.38. Following the acquisition, the director now owns 122,372 shares in the company, valued at $22,135,871.08. This trade represents a 0.61 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate 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.