Avitas Wealth Management LLC purchased a new position in shares of Universal Display Co. (NASDAQ:OLED) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,351 shares of the semiconductor company’s stock, valued at approximately $731,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. FMR LLC grew its position in Universal Display by 156,745.0% in the first quarter. FMR LLC now owns 202,330 shares of the semiconductor company’s stock valued at $30,926,000 after acquiring an additional 202,201 shares during the period. Dorsey Wright & Associates bought a new stake in Universal Display in the second quarter valued at $2,144,000. Empowered Funds LLC acquired a new position in Universal Display in the second quarter worth $1,426,000. Xact Kapitalforvaltning AB boosted its stake in Universal Display by 13.8% in the second quarter. Xact Kapitalforvaltning AB now owns 6,600 shares of the semiconductor company’s stock worth $1,241,000 after purchasing an additional 800 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in Universal Display by 1.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 17,104 shares of the semiconductor company’s stock worth $3,217,000 after purchasing an additional 242 shares in the last quarter. 69.06% of the stock is owned by institutional investors and hedge funds.
Universal Display stock opened at $171.92 on Monday. The firm has a market cap of $8.18 billion, a P/E ratio of 138.65, a P/E/G ratio of 2.16 and a beta of 1.47. The business’s fifty day moving average is $183.14 and its two-hundred day moving average is $181.97. Universal Display Co. has a 52 week low of $78.78 and a 52 week high of $230.32.
The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Friday, September 13th. Universal Display’s dividend payout ratio (DPR) is presently 32.26%.
In other news, CFO Sidney D. Rosenblatt sold 33,790 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $209.59, for a total transaction of $7,082,046.10. Following the transaction, the chief financial officer now owns 209,838 shares of the company’s stock, valued at $43,979,946.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director C Keith Hartley sold 10,528 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $214.27, for a total value of $2,255,834.56. The disclosure for this sale can be found here. Insiders have sold 105,685 shares of company stock worth $22,465,629 in the last ninety days. 3.70% of the stock is currently owned by insiders.
OLED has been the topic of a number of recent analyst reports. Roth Capital boosted their price objective on Universal Display from $172.00 to $206.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Susquehanna Bancshares reissued a “negative” rating on shares of Universal Display in a research note on Thursday, September 12th. Oppenheimer lowered Universal Display from an “outperform” rating to a “market perform” rating and set a $190.50 price objective on the stock. in a research note on Wednesday, July 10th. They noted that the move was a valuation call. BidaskClub lowered Universal Display from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Finally, Deutsche Bank set a $230.00 price objective on Universal Display and gave the stock a “buy” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. Universal Display has an average rating of “Hold” and a consensus price target of $187.23.
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 flat panel displays and solid-state lighting applications. As of February 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.
Further Reading: How dollar cost averaging works
Receive News & Ratings for Universal Display Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Display and related companies with MarketBeat.com's FREE daily email newsletter.