Universal Display Co. (NASDAQ:OLED) Shares Sold by Sargent Investment Group LLC

Sargent Investment Group LLC cut its stake in shares of Universal Display Co. (NASDAQ:OLED) by 1.8% in the third quarter, Holdings Channel reports. The firm owned 62,537 shares of the semiconductor company’s stock after selling 1,140 shares during the quarter. Universal Display accounts for approximately 2.4% of Sargent Investment Group LLC’s holdings, making the stock its 10th biggest holding. Sargent Investment Group LLC’s holdings in Universal Display were worth $13,127,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in OLED. Vanguard Group Inc. grew its position in Universal Display by 1.1% during the first quarter. Vanguard Group Inc. now owns 4,567,374 shares of the semiconductor company’s stock worth $769,374,000 after buying an additional 50,233 shares in the last quarter. Primecap Management Co. CA raised its position in Universal Display by 0.4% during the 2nd quarter. Primecap Management Co. CA now owns 1,895,017 shares of the semiconductor company’s stock worth $398,427,000 after purchasing an additional 7,435 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Universal Display during the 2nd quarter worth about $127,668,000. Van ECK Associates Corp grew its holdings in Universal Display by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company’s stock worth $101,914,000 after acquiring an additional 108,394 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Universal Display by 27.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company’s stock worth $98,725,000 after acquiring an additional 100,809 shares during the period. 78.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Roth Mkm raised their target price on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Needham & Company LLC reduced their target price on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Oppenheimer reduced their target price on Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. TD Cowen dropped their price target on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, Susquehanna raised their price target on shares of Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Universal Display has a consensus rating of “Moderate Buy” and a consensus price target of $215.63.

Universal Display Trading Down 0.5 %

Shares of NASDAQ:OLED traded down $0.84 during mid-day trading on Thursday, reaching $166.80. The company had a trading volume of 60,293 shares, compared to its average volume of 372,311. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 1.85 and a beta of 1.43. The company’s 50-day moving average price is $199.53 and its 200-day moving average price is $195.57. Universal Display Co. has a one year low of $148.75 and a one year high of $237.00.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data 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. The business had revenue of $161.63 million during the quarter, compared to analyst estimates of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. Universal Display’s revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.08 EPS. On average, research analysts anticipate that Universal Display Co. will post 4.79 EPS for the current fiscal year.

Universal Display Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 0.96%. The ex-dividend date is Tuesday, December 17th. Universal Display’s dividend payout ratio is presently 32.13%.

Insiders Place Their Bets

In other Universal Display news, Director Lawrence Lacerte purchased 742 shares of the stock in a transaction on Monday, November 4th. The stock was acquired at an average cost of $180.89 per share, with a total value 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 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by insiders.

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.