Axxcess Wealth Management LLC Takes $300,000 Position in Universal Display Co. (NASDAQ:OLED)

Axxcess Wealth Management LLC purchased a new stake in Universal Display Co. (NASDAQ:OLED) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,427 shares of the semiconductor company’s stock, valued at approximately $300,000.

Several other hedge funds have also modified their holdings of the business. Nisa Investment Advisors LLC lifted 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 during the period. Red Spruce Capital LLC increased its stake in Universal Display by 0.7% in the 2nd quarter. Red Spruce Capital LLC now owns 11,146 shares of the semiconductor company’s stock valued at $2,343,000 after purchasing an additional 76 shares in the last quarter. CIBC Asset Management Inc increased its stake in Universal Display by 7.6% in the 2nd quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company’s stock valued at $284,000 after purchasing an additional 96 shares in the last quarter. UMB Bank n.a. increased its stake in Universal Display by 42.1% in the 3rd quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock valued at $68,000 after purchasing an additional 96 shares in the last quarter. Finally, Bahl & Gaynor Inc. increased its stake in Universal Display by 0.5% in the 1st quarter. Bahl & Gaynor Inc. now owns 18,645 shares of the semiconductor company’s stock valued at $3,141,000 after purchasing an additional 101 shares in the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Stock Down 0.7 %

Shares of NASDAQ:OLED opened at $166.48 on Friday. The company has a market cap of $7.90 billion, a P/E ratio of 33.43, a P/E/G 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 has a fifty day simple moving average of $199.12 and a 200-day simple moving average of $195.37.

Universal Display (NASDAQ:OLED) last announced 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. The business had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.08 earnings per share. Sell-side analysts expect that Universal Display Co. will post 4.79 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, December 17th. This represents a $1.60 annualized dividend and a yield of 0.96%. Universal Display’s dividend payout ratio is presently 32.13%.

Insider Transactions at Universal Display

In other Universal Display news, Director Lawrence Lacerte bought 742 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average price of $180.89 per share, with a total value of $134,220.38. Following the transaction, the director now owns 122,372 shares in the company, valued at $22,135,871.08. This trade 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 at the SEC website. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

OLED has been the subject of several research analyst reports. Roth Mkm raised their price objective on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Needham & Company LLC dropped their price target on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. The Goldman Sachs Group raised their price target on Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Susquehanna raised their price target on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Oppenheimer dropped their price target on Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research report 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $215.63.

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 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.