Swedbank AB Grows Stake in Universal Display Co. (NASDAQ:OLED)

Swedbank AB grew its stake in Universal Display Co. (NASDAQ:OLED) by 14.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,364 shares of the semiconductor company’s stock after acquiring an additional 696 shares during the quarter. Swedbank AB’s holdings in Universal Display were worth $1,126,000 at the end of the most recent quarter.

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

Universal Display Stock Performance

OLED opened at $161.17 on Thursday. Universal Display Co. has a one year low of $148.75 and a one year high of $237.00. The stock has a market capitalization of $7.65 billion, a PE ratio of 32.60, a P/E/G ratio of 1.81 and a beta of 1.43. The business’s 50 day moving average price is $193.77 and its 200 day moving average price is $195.69.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 EPS 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 firm had revenue of $161.63 million for the quarter, compared to analysts’ expectations of $165.28 million. During the same period in the prior year, the firm posted $1.08 earnings per share. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. As a group, equities research analysts forecast that Universal Display Co. will post 4.8 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Tuesday, December 17th. Universal Display’s dividend payout ratio is presently 32.13%.

Insider Activity at Universal Display

In other Universal Display news, Director Lawrence Lacerte acquired 742 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the acquisition, 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Needham & Company LLC cut their price objective on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. TD Cowen cut their price objective on Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Susquehanna boosted their price objective on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Oppenheimer cut 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. Finally, Roth Mkm boosted their target price on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $215.63.

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.