Glenmede Trust Co. NA Grows Position in Universal Display Co. (NASDAQ:OLED)

Glenmede Trust Co. NA boosted its stake in shares of Universal Display Co. (NASDAQ:OLED) by 1.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,046 shares of the semiconductor company’s stock after acquiring an additional 97 shares during the period. Glenmede Trust Co. NA’s holdings in Universal Display were worth $1,269,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Universal Display in the second quarter worth about $127,668,000. Citigroup Inc. raised its holdings in shares of Universal Display by 1,387.6% during the 3rd quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company’s stock worth $54,936,000 after acquiring an additional 244,129 shares in the last quarter. Raymond James & Associates boosted its position in shares of Universal Display by 629.9% during the 3rd quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock valued at $56,550,000 after acquiring an additional 232,503 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Universal Display in the second quarter valued at $34,558,000. Finally, Strategic Financial Concepts LLC bought a new stake in Universal Display in the second quarter worth $23,500,000. 78.19% of the stock is currently owned by institutional investors.

Universal Display Stock Up 2.1 %

Shares of NASDAQ:OLED opened at $164.52 on Monday. The company has a market capitalization of $7.81 billion, a price-to-earnings ratio of 33.04, a price-to-earnings-growth ratio of 1.76 and a beta of 1.43. The firm has a 50 day moving average of $190.97 and a 200 day moving average of $195.29. Universal Display Co. has a 52 week low of $148.75 and a 52 week high of $237.00.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.21. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The firm had revenue of $161.63 million during the quarter, compared to analysts’ expectations of $165.28 million. During the same period in the prior year, the business posted $1.08 EPS. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. On average, sell-side analysts expect that Universal Display Co. will post 4.8 EPS for the current year.

Universal Display Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Tuesday, December 17th. Universal Display’s payout ratio is currently 32.13%.

Analysts Set New Price Targets

OLED has been the subject of several research reports. 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 research report on Thursday, October 31st. Needham & Company LLC dropped their price target 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, Oppenheimer reduced their price objective on Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Universal Display presently has an average rating of “Moderate Buy” and an average price target of $215.63.

Insider Buying and Selling

In other news, Director Lawrence Lacerte purchased 742 shares of the business’s stock in a transaction on Monday, November 4th. The shares were acquired at an average cost of $180.89 per share, with a total value of $134,220.38. Following the completion of the acquisition, the director now owns 122,372 shares of the company’s stock, valued at $22,135,871.08. This trade represents a 0.61 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is currently 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.