343 Shares in Universal Display Co. (NASDAQ:OLED) Acquired by Truvestments Capital LLC

Truvestments Capital LLC bought a new position in shares of Universal Display Co. (NASDAQ:OLED) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 343 shares of the semiconductor company’s stock, valued at approximately $72,000.

Other hedge funds have also recently bought and sold shares of the company. Tidal Investments LLC boosted its position in Universal Display by 172.0% during the first quarter. Tidal Investments LLC now owns 6,246 shares of the semiconductor company’s stock worth $1,052,000 after acquiring an additional 3,950 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Universal Display by 375.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,043 shares of the semiconductor company’s stock valued at $2,112,000 after purchasing an additional 7,929 shares during the last quarter. Montanaro Asset Management Ltd raised its stake in shares of Universal Display by 217.4% in the 3rd quarter. Montanaro Asset Management Ltd now owns 63,260 shares of the semiconductor company’s stock valued at $13,278,000 after acquiring an additional 43,330 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Universal Display in the 1st quarter valued at $620,000. Finally, ProShare Advisors LLC raised its stake in shares of Universal Display by 117.2% in the 2nd quarter. ProShare Advisors LLC now owns 18,762 shares of the semiconductor company’s stock valued at $3,945,000 after acquiring an additional 10,122 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Insider Buying and Selling

In other Universal Display news, Director Lawrence Lacerte bought 742 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the acquisition, the director now directly owns 122,372 shares of the company’s stock, valued at $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 SEC, which is available through this link. Insiders own 1.90% of the company’s stock.

Universal Display Stock Performance

NASDAQ OLED opened at $161.80 on Wednesday. Universal Display Co. has a one year low of $148.75 and a one year high of $237.00. The company has a 50-day simple moving average of $194.63 and a 200-day simple moving average of $195.75. The firm has a market capitalization of $7.68 billion, a PE ratio of 32.49, a price-to-earnings-growth ratio of 1.81 and a beta of 1.43.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $165.28 million. During the same period in the prior year, the business posted $1.08 EPS. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. Equities analysts forecast that Universal Display Co. will post 4.8 earnings per share for the current year.

Universal Display Dividend Announcement

The firm also recently announced 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 is Tuesday, December 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.99%. Universal Display’s payout ratio is currently 32.13%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Susquehanna raised their target price 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. 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 note on Thursday, October 31st. Roth Mkm lifted 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. Needham & Company LLC dropped their price target 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, Oppenheimer dropped their price target on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus 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.