Universal Display Co. (NASDAQ:OLED) Shares Purchased by Barclays PLC

Barclays PLC grew its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 753.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 212,518 shares of the semiconductor company’s stock after buying an additional 187,627 shares during the period. Barclays PLC’s holdings in Universal Display were worth $44,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in OLED. Nisa Investment Advisors LLC boosted its holdings in shares of Universal Display by 60.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 65 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Universal Display by 7.6% during the second quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company’s stock worth $284,000 after purchasing an additional 96 shares during the last quarter. UMB Bank n.a. increased its position in shares of Universal Display by 42.1% during the third quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock worth $68,000 after purchasing an additional 96 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of Universal Display by 1.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,046 shares of the semiconductor company’s stock valued at $1,269,000 after purchasing an additional 97 shares during the last quarter. Finally, Prospera Financial Services Inc grew its position in shares of Universal Display by 4.4% during the third quarter. Prospera Financial Services Inc now owns 2,576 shares of the semiconductor company’s stock worth $542,000 after acquiring an additional 108 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Insider Transactions at Universal Display

In related news, Director Lawrence Lacerte bought 742 shares of Universal Display stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average price of $180.89 per share, with a total value of $134,220.38. Following the purchase, the director now owns 122,372 shares in the company, valued at $22,135,871.08. This represents a 0.61 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on OLED. Oppenheimer reduced their price objective on Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. 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 report on Thursday, October 31st. Finally, TD Cowen reduced 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $215.63.

Universal Display Stock Performance

OLED stock opened at $161.10 on Friday. Universal Display Co. has a 12-month low of $148.75 and a 12-month high of $237.00. The company has a market cap of $7.65 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 1.73 and a beta of 1.39. The firm has a 50 day moving average of $182.24 and a 200-day moving average of $194.21.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results 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. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The business had revenue of $161.63 million during the quarter, compared to analysts’ expectations of $165.28 million. During the same quarter last year, the business posted $1.08 earnings per share. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. Sell-side analysts forecast that Universal Display Co. will post 4.8 earnings per share for the current fiscal year.

Universal Display Announces Dividend

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 given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.60 annualized dividend and a dividend yield of 0.99%. Universal Display’s dividend payout ratio is presently 32.13%.

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.