MetLife Investment Management LLC Reduces Position in Universal Display Co. (NASDAQ:OLED)

MetLife Investment Management LLC decreased its position in Universal Display Co. (NASDAQ:OLED) by 0.8% in the third quarter, HoldingsChannel.com reports. The fund owned 23,922 shares of the semiconductor company’s stock after selling 204 shares during the period. MetLife Investment Management LLC’s holdings in Universal Display were worth $5,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Oppenheimer dropped their target price on Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Needham & Company LLC dropped their price objective 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, TD Cowen decreased 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 note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.63.

Insider Buying and Selling

In other Universal Display news, Director Lawrence Lacerte bought 742 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was acquired 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 $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 is available through this hyperlink. 1.90% of the stock is owned by company insiders.

Universal Display Stock Performance

Shares of NASDAQ OLED opened at $164.52 on Monday. The firm has a fifty day moving average of $190.97 and a 200 day moving average of $195.29. The firm has a market cap of $7.81 billion, a PE ratio of 33.04, a PEG ratio of 1.76 and a beta of 1.43. 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 results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share 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 the consensus estimate of $165.28 million. During the same quarter in the prior year, the firm earned $1.08 EPS. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, equities analysts predict that Universal Display Co. will post 4.8 EPS for the current fiscal year.

Universal Display Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Tuesday, December 17th. Universal Display’s dividend payout ratio is presently 32.13%.

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.