Empowered Funds LLC Buys 320 Shares of Universal Display Co. (NASDAQ:OLED)

Empowered Funds LLC raised its stake in shares of Universal Display Co. (NASDAQ:OLED) by 21.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,833 shares of the semiconductor company’s stock after purchasing an additional 320 shares during the period. Empowered Funds LLC’s holdings in Universal Display were worth $385,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of OLED. Price T Rowe Associates Inc. MD lifted its holdings in shares of Universal Display by 2.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,867 shares of the semiconductor company’s stock worth $3,852,000 after acquiring an additional 616 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Universal Display by 66.6% during the first quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock worth $73,099,000 after purchasing an additional 173,496 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Universal Display in the 1st quarter worth about $620,000. Motley Fool Asset Management LLC bought a new position in shares of Universal Display during the 1st quarter valued at about $626,000. Finally, Tidal Investments LLC increased its position in shares of Universal Display by 172.0% during the 1st quarter. Tidal Investments LLC now owns 6,246 shares of the semiconductor company’s stock valued at $1,052,000 after purchasing an additional 3,950 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Insider Buying and Selling at Universal Display

In related news, Director Lawrence Lacerte bought 742 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was purchased at an average cost of $180.89 per share, with a total value of $134,220.38. Following the transaction, the director now owns 122,372 shares in the company, valued at approximately $22,135,871.08. This trade represents a 0.61 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on OLED shares. 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 note on Thursday, October 31st. TD Cowen lowered their price objective on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Susquehanna increased their target price 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. Needham & Company LLC lowered their price target on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Roth Mkm raised their price objective on 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 given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $215.63.

Universal Display Stock Up 0.6 %

Shares of Universal Display stock opened at $169.34 on Tuesday. The company’s fifty day simple moving average is $194.63 and its two-hundred day simple moving average is $195.75. Universal Display Co. has a 12-month low of $148.75 and a 12-month high of $237.00. The firm has a market cap of $8.04 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 1.80 and a beta of 1.43.

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 company had revenue of $161.63 million for 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%. Universal Display’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.08 EPS. As a group, sell-side analysts expect that Universal Display Co. will post 4.8 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.94%. The ex-dividend date is Tuesday, December 17th. Universal Display’s dividend payout ratio (DPR) is currently 32.13%.

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.