Atria Investments Inc Boosts Stock Position in Universal Display Co. (NASDAQ:OLED)

Atria Investments Inc lifted its position in Universal Display Co. (NASDAQ:OLED) by 766.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,863 shares of the semiconductor company’s stock after acquiring an additional 11,378 shares during the quarter. Atria Investments Inc’s holdings in Universal Display were worth $2,700,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Assetmark Inc. acquired a new stake in shares of Universal Display in the third quarter valued at approximately $29,000. V Square Quantitative Management LLC acquired a new stake in shares of Universal Display in the third quarter worth $31,000. Nisa Investment Advisors LLC grew its stake 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 acquiring an additional 65 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in Universal Display in the 2nd quarter valued at approximately $44,000. Finally, Tortoise Investment Management LLC purchased a new stake in shares of Universal Display during the second quarter worth $47,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Stock Performance

Shares of OLED opened at $166.48 on Friday. Universal Display Co. has a 52 week low of $148.75 and a 52 week high of $237.00. The firm’s 50-day simple moving average is $199.12 and its 200 day simple moving average is $195.37. The firm has a market cap of $7.90 billion, a P/E ratio of 33.43, a price-to-earnings-growth ratio of 1.85 and a beta of 1.43.

Universal Display (NASDAQ:OLED) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.21. The firm had revenue of $161.63 million for 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%. The business’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 EPS. As a group, equities analysts forecast that Universal Display Co. will post 4.79 earnings per share for the current 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 issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Tuesday, December 17th. Universal Display’s dividend payout ratio is presently 32.13%.

Insider Transactions at Universal Display

In related news, Director Lawrence Lacerte acquired 742 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average cost 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 of the company’s stock, valued at approximately $22,135,871.08. This trade represents a 0.61 % increase in their position. The acquisition 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

A number of research analysts have recently weighed in on OLED shares. Oppenheimer cut their price target on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. TD Cowen reduced their target price 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. Susquehanna boosted their price target on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Needham & Company LLC cut their target price on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group increased their target price on Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $215.63.

About Universal Display

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.