Algert Global LLC Reduces Position in Universal Display Co. (NASDAQ:OLED)

Algert Global LLC cut its position in Universal Display Co. (NASDAQ:OLED) by 37.3% during the third quarter, HoldingsChannel reports. The firm owned 28,031 shares of the semiconductor company’s stock after selling 16,704 shares during the quarter. Algert Global LLC’s holdings in Universal Display were worth $5,884,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Nisa Investment Advisors LLC increased its position in shares of Universal Display by 60.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 65 shares during the last quarter. Red Spruce Capital LLC increased its position in shares of Universal Display by 0.7% in the 2nd quarter. Red Spruce Capital LLC now owns 11,146 shares of the semiconductor company’s stock valued at $2,343,000 after purchasing an additional 76 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Universal Display by 7.6% in 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 last quarter. UMB Bank n.a. grew its position in shares of Universal Display by 42.1% in the 3rd quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock valued at $68,000 after buying an additional 96 shares during the last quarter. Finally, Prospera Financial Services Inc grew its position in shares of Universal Display by 4.4% in the 3rd quarter. Prospera Financial Services Inc now owns 2,576 shares of the semiconductor company’s stock valued at $542,000 after buying an additional 108 shares during the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Stock Performance

OLED stock opened at $168.41 on Friday. Universal Display Co. has a one year low of $148.75 and a one year high of $237.00. The stock has a market capitalization of $7.99 billion, a PE ratio of 33.82, a price-to-earnings-growth ratio of 1.79 and a beta of 1.43. The company has a fifty day moving average of $195.31 and a 200-day moving average of $195.64.

Universal Display (NASDAQ:OLED) last released its 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 company had revenue of $161.63 million during the quarter, compared to analysts’ expectations of $165.28 million. During the same quarter last year, the business earned $1.08 EPS. The business’s revenue was up 14.6% on a year-over-year basis. Equities analysts forecast that Universal Display Co. will post 4.8 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Tuesday, December 17th. Universal Display’s dividend payout ratio (DPR) is 32.13%.

Insider Activity at Universal Display

In related news, Director Lawrence Lacerte acquired 742 shares of Universal Display stock in a transaction that occurred on 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 completion of the purchase, the director now directly owns 122,372 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

OLED has been the subject of a number of recent research reports. 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. Oppenheimer decreased their price target on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Susquehanna increased their price target on shares of Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Roth Mkm increased their price target on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC decreased their price target on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating for the company 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $215.63.

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.