Glenmede Trust Co. NA Increases Stake in Universal Display Co. (NASDAQ:OLED)

Glenmede Trust Co. NA raised its position in shares of Universal Display Co. (NASDAQ:OLED) by 1.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,046 shares of the semiconductor company’s stock after purchasing an additional 97 shares during the quarter. Glenmede Trust Co. NA’s holdings in Universal Display were worth $1,269,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of OLED. Assetmark Inc. purchased a new stake in shares of Universal Display during the third quarter valued at approximately $29,000. Brooklyn Investment Group bought a new position in Universal Display in the 3rd quarter valued at approximately $30,000. V Square Quantitative Management LLC purchased a new stake in Universal Display during the 3rd quarter valued at $31,000. Nisa Investment Advisors LLC increased 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 worth $36,000 after purchasing an additional 65 shares in the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Universal Display in the second quarter worth $44,000. 78.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Universal Display

In other news, Director Lawrence Lacerte bought 742 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average price of $180.89 per share, for a total transaction of $134,220.38. Following the purchase, the director now owns 122,372 shares in the company, valued at $22,135,871.08. This represents a 0.61 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on OLED shares. TD Cowen dropped their price objective on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Oppenheimer lowered their target price on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Finally, Needham & Company LLC reduced their price target on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research note 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $215.63.

Universal Display Trading Up 2.1 %

OLED opened at $164.52 on Monday. The company’s 50 day moving average is $190.97 and its 200 day moving average is $195.29. The company has a market cap of $7.81 billion, a price-to-earnings ratio of 33.04, a PEG ratio of 1.76 and a beta of 1.43. Universal Display Co. has a 12-month low of $148.75 and a 12-month high of $237.00.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, topping 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 company’s revenue was up 14.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.08 EPS. As a group, analysts predict that Universal Display Co. will post 4.8 EPS for the current fiscal year.

Universal Display Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Tuesday, December 17th. Universal Display’s 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.