Legacy Wealth Asset Management LLC Cuts Stake in Universal Display Co. (NASDAQ:OLED)

Legacy Wealth Asset Management LLC reduced its stake in Universal Display Co. (NASDAQ:OLED) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,851 shares of the semiconductor company’s stock after selling 99 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Universal Display were worth $417,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in OLED. Assetmark Inc. purchased a new position in shares of Universal Display in the third quarter valued at $29,000. Brooklyn Investment Group purchased a new position in shares of Universal Display in the 3rd quarter worth $30,000. V Square Quantitative Management LLC bought a new stake in shares of Universal Display in the 3rd quarter worth about $31,000. True Wealth Design LLC bought a new position in shares of Universal Display in the 3rd quarter valued at about $36,000. Finally, Nisa Investment Advisors LLC grew its position in Universal Display by 60.2% in the third quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on OLED shares. TD Cowen decreased their price objective on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and issued a $215.00 price target on shares of Universal Display in a research report on Thursday. Finally, Oppenheimer cut their price objective on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.86.

Universal Display Stock Up 1.4 %

OLED opened at $149.24 on Friday. Universal Display Co. has a 52 week low of $143.25 and a 52 week high of $237.00. The stock’s fifty day moving average is $157.11 and its two-hundred day moving average is $186.25. The company has a market capitalization of $7.08 billion, a P/E ratio of 29.97, a PEG ratio of 1.62 and a beta of 1.40.

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. The business had revenue of $161.63 million for the quarter, compared to the consensus estimate of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.08 EPS. Equities analysts anticipate that Universal Display Co. will post 4.77 earnings per share for the current year.

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Tuesday, December 17th. Universal Display’s payout ratio is currently 32.13%.

Insider Buying and Selling at Universal Display

In other news, Director Lawrence Lacerte acquired 742 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were purchased at an average price of $180.89 per share, with a total value of $134,220.38. Following the transaction, the director now directly owns 122,372 shares in the company, valued at approximately $22,135,871.08. This represents a 0.61 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is owned by insiders.

About Universal Display

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.