Algert Global LLC Cuts Stake in Universal Display Co. (NASDAQ:OLED)

Algert Global LLC lowered its stake in shares of Universal Display Co. (NASDAQ:OLED) by 37.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,031 shares of the semiconductor company’s stock after selling 16,704 shares during the period. Algert Global LLC owned about 0.06% of Universal Display worth $5,884,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC grew its stake in Universal Display by 60.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 65 shares in the last quarter. Red Spruce Capital LLC grew its stake in Universal Display by 0.7% during the 2nd quarter. Red Spruce Capital LLC now owns 11,146 shares of the semiconductor company’s stock valued at $2,343,000 after acquiring an additional 76 shares in the last quarter. CIBC Asset Management Inc grew its stake in Universal Display by 7.6% during the 2nd quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company’s stock valued at $284,000 after acquiring an additional 96 shares in the last quarter. UMB Bank n.a. grew its stake in Universal Display by 42.1% during the 3rd quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock valued at $68,000 after acquiring an additional 96 shares in the last quarter. Finally, Prospera Financial Services Inc grew its stake in Universal Display by 4.4% during the 3rd quarter. Prospera Financial Services Inc now owns 2,576 shares of the semiconductor company’s stock valued at $542,000 after acquiring an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Insider Transactions at Universal Display

In other Universal Display news, Director Lawrence Lacerte bought 742 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average cost of $180.89 per share, with a total value of $134,220.38. Following the purchase, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on OLED shares. Susquehanna upped their price objective 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 objective 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. Roth Mkm boosted their target price on shares of Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Oppenheimer decreased their target price on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, 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 report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Universal Display has an average rating of “Moderate Buy” and an average target price of $215.63.

Universal Display Stock Performance

Shares of OLED stock opened at $168.41 on Friday. The firm’s 50 day moving average price is $195.31 and its 200-day moving average price is $195.64. Universal Display Co. has a one year low of $148.75 and a one year high of $237.00. The firm has a market cap of $7.99 billion, a P/E ratio of 33.82, a P/E/G ratio of 1.79 and a beta of 1.43.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 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 for 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. As a group, research analysts predict that Universal Display Co. will post 4.8 EPS for the current fiscal year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. Universal Display’s dividend payout ratio is currently 32.13%.

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.