Fmr LLC Sells 731,936 Shares of Universal Display Co. (NASDAQ:OLED)

Fmr LLC cut its position in Universal Display Co. (NASDAQ:OLED) by 34.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,407,090 shares of the semiconductor company’s stock after selling 731,936 shares during the period. Fmr LLC’s holdings in Universal Display were worth $295,348,000 at the end of the most recent quarter.

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

Universal Display Trading Up 2.1 %

Universal Display stock opened at $164.52 on Monday. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of 33.04, a price-to-earnings-growth ratio of 1.76 and a beta of 1.43. The firm’s fifty day moving average price is $190.97 and its two-hundred day moving average price is $195.29. Universal Display Co. has a 1-year low of $148.75 and a 1-year high of $237.00.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.21. The business had revenue of $161.63 million for the quarter, compared to analysts’ expectations of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.08 EPS. On average, research analysts forecast that Universal Display Co. will post 4.8 EPS for the current year.

Universal Display Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.60 annualized dividend and a dividend yield of 0.97%. Universal Display’s payout ratio is 32.13%.

Insider Buying and Selling

In other news, Director Lawrence Lacerte bought 742 shares of Universal Display stock in a transaction dated Monday, November 4th. The stock was purchased at an average price of $180.89 per share, for a total transaction of $134,220.38. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on OLED shares. Oppenheimer lowered their price objective on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. TD Cowen decreased their price target on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Needham & Company LLC dropped their price objective on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Universal Display presently has an average rating of “Moderate Buy” and a consensus price target 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.