Advisors Asset Management Inc. Has $210,000 Stock Holdings in Universal Display Co. (NASDAQ:OLED)

Advisors Asset Management Inc. grew its stake in shares of Universal Display Co. (NASDAQ:OLED) by 164.3% in the third quarter, HoldingsChannel.com reports. The fund owned 999 shares of the semiconductor company’s stock after acquiring an additional 621 shares during the quarter. Advisors Asset Management Inc.’s holdings in Universal Display were worth $210,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of OLED. Kayne Anderson Rudnick Investment Management LLC bought a new stake in Universal Display during the second quarter worth about $127,668,000. Raymond James & Associates lifted its holdings in shares of Universal Display by 629.9% during the 3rd quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock worth $56,550,000 after acquiring an additional 232,503 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Universal Display during the 2nd quarter worth approximately $34,558,000. Strategic Financial Concepts LLC bought a new position in Universal Display in the second quarter valued at approximately $23,500,000. Finally, Van ECK Associates Corp raised its position in Universal Display by 27.2% during the third quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company’s stock valued at $101,914,000 after purchasing an additional 108,394 shares in the last quarter. Institutional investors own 78.19% of the company’s stock.

Insider Buying and Selling

In other news, Director Lawrence Lacerte bought 742 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average price of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the acquisition, 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 document filed with the SEC, which is available at this link. 1.90% of the stock is owned by insiders.

Universal Display Price Performance

OLED opened at $161.17 on Friday. The company’s 50 day moving average price is $192.90 and its two-hundred day moving average price is $195.44. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 1.81 and a beta of 1.43. Universal Display Co. has a fifty-two week low of $148.75 and a fifty-two week high of $237.00.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data 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. The company had revenue of $161.63 million for the quarter, compared to analysts’ expectations of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. Universal Display’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.08 earnings per share. As a group, equities research analysts predict that Universal Display Co. will post 4.8 EPS for the current year.

Universal Display Dividend Announcement

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 given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.99%. Universal Display’s dividend payout ratio (DPR) is 32.13%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OLED. Needham & Company LLC reduced their target price on Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. TD Cowen decreased their target price 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. Oppenheimer dropped their target price on shares of Universal Display from $240.00 to $220.00 and set an “outperform” 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 report on Friday, August 2nd. Finally, Roth Mkm increased their price objective on shares of Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and six have assigned 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.

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.