Fifth Third Wealth Advisors LLC Grows Holdings in Universal Display Co. (NASDAQ:OLED)

Fifth Third Wealth Advisors LLC boosted its position in shares of Universal Display Co. (NASDAQ:OLED) by 24.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,674 shares of the semiconductor company’s stock after acquiring an additional 327 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Universal Display were worth $245,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in OLED. Geode Capital Management LLC raised its position in shares of Universal Display by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 799,352 shares of the semiconductor company’s stock valued at $167,825,000 after purchasing an additional 15,015 shares during the period. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Universal Display in the 2nd quarter worth $127,668,000. Van ECK Associates Corp raised its holdings in Universal Display by 27.2% during the third quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company’s stock valued at $101,914,000 after acquiring an additional 108,394 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Universal Display by 27.3% in the second quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company’s stock valued at $98,725,000 after acquiring an additional 100,809 shares in the last quarter. Finally, Southpoint Capital Advisors LP boosted its stake in shares of Universal Display by 46.0% in the third quarter. Southpoint Capital Advisors LP now owns 365,000 shares of the semiconductor company’s stock worth $76,614,000 after acquiring an additional 115,000 shares during the period. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Insider Buying and Selling at Universal Display

In other Universal Display news, Director Lawrence Lacerte purchased 742 shares of the firm’s stock in a transaction that occurred on 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 purchase, the director now owns 122,372 shares of the company’s stock, valued at approximately $22,135,871.08. The trade was a 0.61 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

OLED has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $215.00 price objective on shares of Universal Display in a report on Thursday. Oppenheimer decreased their price objective on Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, January 2nd. Finally, TD Cowen cut their target price 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $207.86.

Universal Display Price Performance

NASDAQ:OLED opened at $149.24 on Friday. The firm has a market capitalization of $7.08 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 1.62 and a beta of 1.40. The business has a 50 day simple moving average of $157.11 and a 200-day simple moving average of $186.25. Universal Display Co. has a 1 year low of $143.25 and a 1 year high of $237.00.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations 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 previous year, the business posted $1.08 earnings per share. As a group, analysts expect that Universal Display Co. will post 4.77 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Tuesday, December 17th. Universal Display’s payout ratio is currently 32.13%.

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.