Covestor Ltd Sells 175 Shares of Universal Display Co. (NASDAQ:OLED)

Covestor Ltd cut its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 22.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 619 shares of the semiconductor company’s stock after selling 175 shares during the period. Covestor Ltd’s holdings in Universal Display were worth $130,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Universal Display by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 4,567,374 shares of the semiconductor company’s stock valued at $769,374,000 after purchasing an additional 50,233 shares during the period. Primecap Management Co. CA increased its stake in shares of Universal Display by 0.4% in the 2nd quarter. Primecap Management Co. CA now owns 1,895,017 shares of the semiconductor company’s stock valued at $398,427,000 after acquiring an additional 7,435 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Universal Display in the 2nd quarter valued at approximately $127,668,000. Van ECK Associates Corp boosted its stake in Universal Display by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company’s stock worth $101,914,000 after acquiring an additional 108,394 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Universal Display by 27.3% during the second quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company’s stock valued at $98,725,000 after purchasing an additional 100,809 shares during the period. 78.19% of the stock is owned by institutional investors.

Insider Activity

In other Universal Display news, Director Lawrence Lacerte bought 742 shares of the stock in a transaction on Monday, November 4th. The stock was acquired at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the acquisition, the director now owns 122,372 shares in the company, valued at $22,135,871.08. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.90% of the company’s stock.

Universal Display Trading Down 2.8 %

Shares of NASDAQ OLED opened at $174.92 on Tuesday. The stock has a 50-day moving average price of $200.10 and a two-hundred day moving average price of $195.67. The company has a market cap of $8.30 billion, a price-to-earnings ratio of 35.12, a PEG ratio of 1.93 and a beta of 1.43. Universal Display Co. has a 12 month low of $148.75 and a 12 month high of $237.00.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.21. The company had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The firm’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 earnings per share. On average, sell-side analysts predict that Universal Display Co. will post 4.79 earnings per share for the current year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 0.91%. The ex-dividend date is Tuesday, December 17th. Universal Display’s dividend payout ratio is currently 32.13%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on OLED shares. TD Cowen reduced 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 report on Thursday, October 31st. Roth Mkm lifted their price objective on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Oppenheimer lowered 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. Susquehanna upped their price target on shares of Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Needham & Company LLC reduced their price objective on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research report 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $215.63.

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.