Universal Display Co. (NASDAQ:OLED) Shares Acquired by Citigroup Inc.

Citigroup Inc. increased its stake in Universal Display Co. (NASDAQ:OLED) by 1,387.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 261,723 shares of the semiconductor company’s stock after purchasing an additional 244,129 shares during the quarter. Citigroup Inc. owned about 0.55% of Universal Display worth $54,936,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC lifted its holdings in 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 acquiring an additional 65 shares during the last quarter. Red Spruce Capital LLC lifted its holdings in 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 acquiring an additional 76 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in 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 acquiring an additional 96 shares during the last quarter. UMB Bank n.a. lifted its holdings in 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 acquiring an additional 96 shares during the last quarter. Finally, Prospera Financial Services Inc lifted its holdings in 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 acquiring an additional 108 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Insider Buying and Selling

In other news, Director Lawrence Lacerte acquired 742 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average price of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the acquisition, the director now 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 can be accessed through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

OLED has been the subject of a number of analyst reports. Susquehanna upped their price objective on shares of Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Needham & Company LLC reduced their price objective 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. Roth Mkm upped their price objective on shares of Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. TD Cowen reduced 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 note on Thursday, October 31st. Finally, Oppenheimer reduced 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. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Universal Display has a consensus rating of “Moderate Buy” and an average price target of $215.63.

Universal Display Price Performance

Shares of OLED opened at $168.41 on Friday. The company has a market capitalization of $7.99 billion, a price-to-earnings ratio of 33.82, a P/E/G ratio of 1.79 and a beta of 1.43. Universal Display Co. has a fifty-two week low of $148.75 and a fifty-two week high of $237.00. The business’s 50-day moving average is $195.31 and its 200-day moving average is $195.64.

Universal Display (NASDAQ:OLED) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, beating 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 company had revenue of $161.63 million for the quarter, compared to the consensus estimate of $165.28 million. During the same quarter in the prior year, the company earned $1.08 EPS. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. Equities research analysts expect that Universal Display Co. will post 4.8 earnings per share 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. Investors of record on Tuesday, December 17th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. Universal Display’s dividend payout ratio is currently 32.13%.

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.