Intech Investment Management LLC Reduces Stake in Universal Display Co. (NASDAQ:OLED)

Intech Investment Management LLC lessened its holdings in Universal Display Co. (NASDAQ:OLED) by 29.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,525 shares of the semiconductor company’s stock after selling 2,704 shares during the quarter. Intech Investment Management LLC’s holdings in Universal Display were worth $1,370,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Assetmark Inc. purchased a new position in shares of Universal Display during the third quarter worth $29,000. V Square Quantitative Management LLC purchased a new stake in Universal Display in the 3rd quarter worth approximately $31,000. Nisa Investment Advisors LLC grew its stake in shares of Universal Display by 60.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 65 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Universal Display during the 2nd quarter valued at approximately $44,000. Finally, Tortoise Investment Management LLC acquired a new position in shares of Universal Display in the 2nd quarter valued at $47,000. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Trading Down 4.5 %

Universal Display stock opened at $161.80 on Wednesday. The company has a 50-day moving average price of $194.63 and a 200 day moving average price of $195.75. Universal Display Co. has a 12-month low of $148.75 and a 12-month high of $237.00. The stock has a market cap of $7.68 billion, a P/E ratio of 32.49, a PEG 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, topping analysts’ consensus estimates of $1.19 by $0.21. The business had revenue of $161.63 million during the quarter, compared to the consensus estimate 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 last year, the firm earned $1.08 EPS. As a group, analysts forecast that Universal Display Co. will post 4.8 EPS for the current year.

Universal Display Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Tuesday, December 17th. Universal Display’s dividend payout ratio is presently 32.13%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on OLED shares. Needham & Company LLC lowered their target price on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Susquehanna boosted their target price on shares of Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. 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 report on Thursday, October 31st. Oppenheimer dropped their target price on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, Roth Mkm raised their price target on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Two 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $215.63.

Insider Buying and Selling

In related news, Director Lawrence Lacerte bought 742 shares of the stock in a transaction on Monday, November 4th. The stock was bought 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 directly owns 122,372 shares in the company, valued at $22,135,871.08. This represents a 0.61 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate 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.