Oppenheimer & Co. Inc. Has $7.33 Million Holdings in Universal Display Co. (NASDAQ:OLED)

Oppenheimer & Co. Inc. decreased its holdings in Universal Display Co. (NASDAQ:OLED) by 1.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 34,932 shares of the semiconductor company’s stock after selling 614 shares during the period. Oppenheimer & Co. Inc.’s holdings in Universal Display were worth $7,332,000 at the end of the most recent quarter.

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

Universal Display Stock Performance

Shares of NASDAQ:OLED opened at $167.64 on Thursday. The firm has a market cap of $7.96 billion, a P/E ratio of 33.66, a PEG ratio of 1.85 and a beta of 1.43. Universal Display Co. has a 52-week low of $148.75 and a 52-week high of $237.00. The business’s 50 day simple moving average is $199.53 and its two-hundred day simple moving average is $195.57.

Universal Display (NASDAQ:OLED) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.19 by $0.21. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The company had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. During the same period in the previous year, the firm posted $1.08 earnings per share. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, equities analysts forecast that Universal Display Co. will post 4.79 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Tuesday, December 17th. Universal Display’s dividend payout ratio (DPR) is presently 32.13%.

Analyst Upgrades and Downgrades

OLED has been the subject of several recent analyst reports. The Goldman Sachs Group increased their price objective on shares of Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. TD Cowen decreased their price target on Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Needham & Company LLC dropped their price objective on 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 raised their target price on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Oppenheimer dropped their price target 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 equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $215.63.

Insider Activity

In other news, Director Lawrence Lacerte purchased 742 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average cost of $180.89 per share, with a total value of $134,220.38. Following the completion of the transaction, the director now directly owns 122,372 shares of the company’s stock, valued at approximately $22,135,871.08. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.90% of the company’s stock.

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.