Empirical Asset Management LLC Buys Shares of 2,655 Universal Display Co. (NASDAQ:OLED)

Empirical Asset Management LLC purchased a new position in shares of Universal Display Co. (NASDAQ:OLED) in the fourth quarter, Holdings Channel.com reports. The fund purchased 2,655 shares of the semiconductor company’s stock, valued at approximately $388,000.

Other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. purchased a new position in shares of Universal Display during the 3rd quarter worth $29,000. Brooklyn Investment Group acquired a new position in Universal Display in the 3rd quarter valued at about $30,000. V Square Quantitative Management LLC purchased a new stake in Universal Display during the third quarter worth about $31,000. True Wealth Design LLC acquired a new stake in shares of Universal Display during the third quarter worth about $36,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Universal Display by 60.2% in the third 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 period. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Price Performance

Shares of NASDAQ OLED opened at $149.24 on Friday. The business has a 50-day moving average of $157.11 and a two-hundred day moving average of $186.06. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 29.97, a price-to-earnings-growth ratio of 1.62 and a beta of 1.40. Universal Display Co. has a 1 year low of $143.25 and a 1 year high of $237.00.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.21. The firm 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 quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.08 earnings per share. As a group, equities research analysts expect that Universal Display Co. will post 4.77 earnings per share for the current year.

Universal Display Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Tuesday, December 17th. Universal Display’s dividend payout ratio (DPR) is 32.13%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OLED. TD Cowen cut their target price on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and issued a $215.00 target price on shares of Universal Display in a report on Thursday. Finally, Oppenheimer cut their price target on Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $207.86.

Insider Buying and Selling

In other news, Director Lawrence Lacerte purchased 742 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average price of $180.89 per share, for a total transaction of $134,220.38. Following the purchase, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is owned by company insiders.

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.