Pathstone Holdings LLC Purchases 686 Shares of Universal Display Co. (NASDAQ:OLED)

Pathstone Holdings LLC raised its position in Universal Display Co. (NASDAQ:OLED) by 7.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,668 shares of the semiconductor company’s stock after acquiring an additional 686 shares during the period. Pathstone Holdings LLC’s holdings in Universal Display were worth $2,029,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Thrivent Financial for Lutherans lifted its position in Universal Display by 0.4% in the third quarter. Thrivent Financial for Lutherans now owns 139,015 shares of the semiconductor company’s stock worth $29,180,000 after purchasing an additional 605 shares during the period. Chesapeake Capital Corp IL raised its stake in shares of Universal Display by 27.9% in the 3rd quarter. Chesapeake Capital Corp IL now owns 2,498 shares of the semiconductor company’s stock valued at $514,000 after buying an additional 545 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of Universal Display by 20.4% in the 3rd quarter. Natixis Advisors LLC now owns 14,477 shares of the semiconductor company’s stock valued at $3,039,000 after buying an additional 2,456 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Universal Display by 21.2% during the 3rd quarter. Empowered Funds LLC now owns 1,833 shares of the semiconductor company’s stock valued at $385,000 after acquiring an additional 320 shares in the last quarter. Finally, XXEC Inc. boosted its position in shares of Universal Display by 7.0% during the 3rd quarter. XXEC Inc. now owns 38,432 shares of the semiconductor company’s stock valued at $8,067,000 after acquiring an additional 2,530 shares in the last quarter. Institutional investors own 78.19% of the company’s stock.

Universal Display Stock Down 4.5 %

Shares of NASDAQ OLED opened at $161.80 on Wednesday. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 32.53, a price-to-earnings-growth ratio of 1.80 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. The firm’s 50-day simple moving average is $194.63 and its 200 day simple moving average is $195.75.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.21. The business had revenue of $161.63 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 earnings per share. On average, equities analysts expect that Universal Display Co. will post 4.8 earnings per share for the current year.

Universal Display Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.60 dividend on an annualized basis and a yield of 0.99%. Universal Display’s payout ratio is 32.13%.

Insiders Place Their Bets

In other Universal Display news, Director Lawrence Lacerte purchased 742 shares of the stock in a transaction dated Monday, November 4th. The stock was bought at an average price of $180.89 per share, for a total transaction of $134,220.38. Following the transaction, the director now directly owns 122,372 shares in the company, valued at $22,135,871.08. This represents a 0.61 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

OLED has been the subject of several recent research reports. TD Cowen cut their price target 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. Oppenheimer cut their target price on Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Susquehanna upped their price target on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Needham & Company LLC cut their price objective on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, Roth Mkm upped their target price on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.63.

Universal Display Company 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.