Universal Display Co. (NASDAQ:OLED) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in Universal Display Co. (NASDAQ:OLED) by 14.1% in the third quarter, Holdings Channel reports. The firm owned 1,270,863 shares of the semiconductor company’s stock after selling 208,219 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Universal Display were worth $266,754,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Universal Display by 22.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,680 shares of the semiconductor company’s stock worth $2,452,000 after acquiring an additional 2,169 shares during the last quarter. Glenmede Trust Co. NA grew its position in Universal Display by 1.6% during the 3rd 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. Bridgewater Associates LP purchased a new position in shares of Universal Display in the third quarter worth $8,336,000. BNP Paribas Financial Markets lifted its stake in shares of Universal Display by 8.8% during the third quarter. BNP Paribas Financial Markets now owns 52,713 shares of the semiconductor company’s stock worth $11,064,000 after buying an additional 4,269 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in shares of Universal Display during the third quarter valued at $30,000. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Universal Display Stock Performance

Shares of Universal Display stock opened at $164.52 on Friday. Universal Display Co. has a fifty-two week low of $148.75 and a fifty-two week high of $237.00. The company has a market cap of $7.81 billion, a P/E ratio of 33.04, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43. The firm has a 50-day simple moving average of $191.91 and a two-hundred day simple moving average of $195.21.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results 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. The company had revenue of $161.63 million for the quarter, compared to the consensus estimate of $165.28 million. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. Universal Display’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.08 earnings per share. Equities research analysts forecast that Universal Display Co. will post 4.8 EPS for the current year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.40 per share. 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 dividend payout ratio is presently 32.13%.

Insider Buying and Selling at Universal Display

In related news, Director Lawrence Lacerte purchased 742 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average cost of $180.89 per share, with a total value of $134,220.38. Following the purchase, the director now owns 122,372 shares of the company’s stock, valued at $22,135,871.08. This represents a 0.61 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on OLED. TD Cowen lowered their price target on Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Susquehanna upped their target price on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Oppenheimer decreased their price objective 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. Needham & Company LLC cut 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. Finally, Roth Mkm boosted their target price on shares of Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.