Charles Schwab Investment Management Inc. Purchases 10,046 Shares of Universal Display Co. (NASDAQ:OLED)

Charles Schwab Investment Management Inc. increased its position in shares of Universal Display Co. (NASDAQ:OLED) by 3.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 333,872 shares of the semiconductor company’s stock after purchasing an additional 10,046 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Universal Display were worth $70,080,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Universal Display during the second quarter worth $127,668,000. Raymond James & Associates increased its position in Universal Display by 629.9% during the third quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock worth $56,550,000 after acquiring an additional 232,503 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Universal Display in the 2nd quarter worth about $34,558,000. Strategic Financial Concepts LLC bought a new stake in Universal Display in the 2nd quarter valued at about $23,500,000. Finally, Van ECK Associates Corp grew its position in shares of Universal Display by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company’s stock worth $101,914,000 after purchasing an additional 108,394 shares in the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity at Universal Display

In related news, Director Lawrence Lacerte acquired 742 shares of the business’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 purchase, the director now directly owns 122,372 shares in the company, valued at $22,135,871.08. The trade was a 0.61 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 1.90% of the stock is currently owned by company insiders.

Universal Display Stock Down 0.4 %

Shares of OLED stock opened at $161.17 on Friday. Universal Display Co. has a twelve month low of $148.75 and a twelve month high of $237.00. The stock’s fifty day simple moving average is $192.90 and its 200 day simple moving average is $195.44. The firm has a market capitalization of $7.65 billion, a P/E ratio of 32.36, a P/E/G ratio of 1.81 and a beta of 1.43.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.21. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The company had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. During the same quarter in the prior year, the firm posted $1.08 earnings per share. The firm’s revenue was up 14.6% compared to the same quarter last year. As a group, equities research analysts expect that Universal Display Co. will post 4.8 EPS for the current fiscal year.

Universal Display Announces Dividend

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 paid a $0.40 dividend. The ex-dividend date 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 32.13%.

Universal Display Company 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.