Thrive Wealth Management LLC Takes $361,000 Position in Universal Display Co. (NASDAQ:OLED)

Thrive Wealth Management LLC acquired a new stake in Universal Display Co. (NASDAQ:OLED) in the third quarter, Holdings Channel reports. The firm acquired 1,719 shares of the semiconductor company’s stock, valued at approximately $361,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. ORG Partners LLC acquired a new stake in Universal Display during the 1st quarter worth about $27,000. Tsfg LLC acquired a new stake in Universal Display during the 1st quarter worth about $34,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in Universal Display during the 4th quarter worth about $35,000. Geneos Wealth Management Inc. grew its holdings in Universal Display by 210.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 233 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 158 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new stake in Universal Display during the 2nd quarter worth about $44,000. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Trading Up 1.7 %

NASDAQ OLED traded up $3.59 during trading hours on Friday, hitting $211.71. The company’s stock had a trading volume of 417,202 shares, compared to its average volume of 361,696. Universal Display Co. has a 52 week low of $133.67 and a 52 week high of $237.00. The company has a market capitalization of $10.05 billion, a PE ratio of 46.02, a price-to-earnings-growth ratio of 2.22 and a beta of 1.42. The company’s 50-day simple moving average is $195.45 and its two-hundred day simple moving average is $188.23.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.04). Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The business had revenue of $158.50 million during the quarter, compared to the consensus estimate of $159.46 million. During the same period in the previous year, the business posted $1.04 EPS. Universal Display’s revenue was up 8.1% compared to the same quarter last year. Research analysts anticipate that Universal Display Co. will post 4.81 EPS for the current fiscal year.

Universal Display Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 0.76%. Universal Display’s dividend payout ratio is currently 34.78%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Oppenheimer increased their price target on Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, July 3rd. TD Cowen raised their target price on Universal Display from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. The Goldman Sachs Group raised their target price on Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Susquehanna raised their target price on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Roth Mkm raised their target price on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Universal Display presently has an average rating of “Moderate Buy” and an average price target of $225.88.

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.