Healthcare of Ontario Pension Plan Trust Fund Sells 5,729 Shares of Universal Display Co. (NASDAQ:OLED)

Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 11.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 44,470 shares of the semiconductor company’s stock after selling 5,729 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.09% of Universal Display worth $9,334,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Assetmark Inc. purchased a new position in Universal Display during the 3rd quarter worth approximately $29,000. Brooklyn Investment Group purchased a new stake in shares of Universal Display during the third quarter worth about $30,000. V Square Quantitative Management LLC acquired a new stake in Universal Display in the 3rd quarter worth about $31,000. Nisa Investment Advisors LLC increased its position in shares of Universal Display by 60.2% during the third quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 65 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in Universal Display in the 2nd quarter valued at $44,000. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Price Performance

NASDAQ:OLED opened at $164.52 on Friday. The firm has a market cap of $7.81 billion, a price-to-earnings ratio of 32.36, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43. Universal Display Co. has a 1-year low of $148.75 and a 1-year high of $237.00. The firm’s fifty day moving average price is $191.91 and its 200 day moving average price is $195.21.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.21. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The firm had revenue of $161.63 million during the quarter, compared to analysts’ expectations of $165.28 million. During the same period in the prior year, the company posted $1.08 earnings per share. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. As a group, analysts expect that Universal Display Co. will post 4.8 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 yield of 0.97%. The ex-dividend date is Tuesday, December 17th. Universal Display’s dividend payout ratio (DPR) is currently 32.13%.

Wall Street Analysts Forecast Growth

OLED has been the topic of a number of research reports. Needham & Company LLC decreased their target price 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. Oppenheimer cut 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 objective on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, October 31st. 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 research report on Friday, August 2nd. Finally, 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 research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $215.63.

Insider Transactions at Universal Display

In other Universal Display news, Director Lawrence Lacerte purchased 742 shares of Universal Display stock in a transaction on Monday, November 4th. The shares were bought at an average price of $180.89 per share, with a total value of $134,220.38. Following the completion of the acquisition, the director now directly owns 122,372 shares of the company’s stock, valued at approximately $22,135,871.08. This trade represents a 0.61 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

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.