CloudAlpha Capital Management Limited Hong Kong Sells 150,807 Shares of Universal Display Co. (NASDAQ:OLED)

CloudAlpha Capital Management Limited Hong Kong cut its stake in Universal Display Co. (NASDAQ:OLED) by 91.7% in the third quarter, HoldingsChannel.com reports. The fund owned 13,561 shares of the semiconductor company’s stock after selling 150,807 shares during the period. Universal Display accounts for 0.2% of CloudAlpha Capital Management Limited Hong Kong’s holdings, making the stock its 26th biggest position. CloudAlpha Capital Management Limited Hong Kong’s holdings in Universal Display were worth $2,846,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in OLED. Assetmark Inc. bought a new stake in Universal Display during the third quarter valued at approximately $29,000. V Square Quantitative Management LLC bought a new stake in Universal Display during the third quarter valued at approximately $31,000. Nisa Investment Advisors LLC grew its position in Universal Display by 60.2% during the third quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 65 shares during the period. Itau Unibanco Holding S.A. bought a new stake in Universal Display during the second quarter valued at approximately $44,000. Finally, Tortoise Investment Management LLC bought a new stake in Universal Display during the second quarter valued at approximately $47,000. 78.19% of the stock is currently owned by institutional investors.

Universal Display Trading Down 2.8 %

NASDAQ:OLED opened at $167.64 on Thursday. The company has a market capitalization of $7.96 billion, a P/E ratio of 33.66, a P/E/G ratio of 1.85 and a beta of 1.43. The business’s 50-day moving average is $199.53 and its 200 day moving average is $195.57. Universal Display Co. has a 12 month low of $148.75 and a 12 month high of $237.00.

Universal Display (NASDAQ:OLED) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 EPS 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 firm had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. During the same period in the prior year, the company earned $1.08 EPS. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, research analysts forecast that Universal Display Co. will post 4.79 earnings per share for the current year.

Universal Display Dividend Announcement

The firm also recently declared 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Tuesday, December 17th. Universal Display’s payout ratio is 32.13%.

Insider Activity at Universal Display

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 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. TD Cowen cut their target price on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Roth Mkm lifted their price target on shares of Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Susquehanna lifted their price target on shares of Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Needham & Company LLC lowered their price target on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Oppenheimer lowered their price target on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Universal Display presently has an average rating of “Moderate Buy” and an average price target of $215.63.

Universal Display Company 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.