Fmr LLC Sells 731,936 Shares of Universal Display Co. (NASDAQ:OLED)

Fmr LLC reduced its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 34.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,407,090 shares of the semiconductor company’s stock after selling 731,936 shares during the quarter. Fmr LLC owned approximately 2.96% of Universal Display worth $295,348,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in OLED. Nisa Investment Advisors LLC lifted its holdings 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 purchasing an additional 65 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Universal Display by 7.6% during the 2nd quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company’s stock worth $284,000 after buying an additional 96 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Universal Display by 42.1% during the 3rd quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock worth $68,000 after buying an additional 96 shares during the period. Prospera Financial Services Inc grew its stake in Universal Display by 4.4% in the 3rd quarter. Prospera Financial Services Inc now owns 2,576 shares of the semiconductor company’s stock valued at $542,000 after buying an additional 108 shares during the last quarter. Finally, Assetmark Inc. bought a new position in Universal Display in the 3rd quarter valued at about $29,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on OLED shares. Oppenheimer decreased their target price on Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. TD Cowen lowered their price objective 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. Finally, Needham & Company LLC reduced their target price 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 equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.63.

Universal Display Stock Performance

OLED opened at $164.52 on Monday. Universal Display Co. has a 52-week low of $148.75 and a 52-week high of $237.00. The firm has a market cap of $7.81 billion, a P/E ratio of 33.04, a price-to-earnings-growth ratio of 1.76 and a beta of 1.43. The business’s fifty day moving average is $190.97 and its 200-day moving average is $195.29.

Universal Display (NASDAQ:OLED) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, beating 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 last year, the firm earned $1.08 EPS. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, research analysts predict that Universal Display Co. will post 4.8 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

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 paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.97%. The ex-dividend date is Tuesday, December 17th. Universal Display’s payout ratio is presently 32.13%.

Insider Buying and Selling at Universal Display

In other Universal Display news, Director Lawrence Lacerte bought 742 shares of the stock in a transaction on Monday, November 4th. The stock was purchased at an average price of $180.89 per share, with a total value of $134,220.38. Following the completion of the purchase, the director now owns 122,372 shares in the company, valued at $22,135,871.08. The trade was a 0.61 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company 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.