MML Investors Services LLC Raises Position in Universal Display Co. (NASDAQ:OLED)

MML Investors Services LLC lifted its stake in Universal Display Co. (NASDAQ:OLED) by 208.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,008 shares of the semiconductor company’s stock after purchasing an additional 2,710 shares during the period. MML Investors Services LLC’s holdings in Universal Display were worth $841,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Primecap Management Co. CA increased its position in Universal Display by 0.4% in the second quarter. Primecap Management Co. CA now owns 1,895,017 shares of the semiconductor company’s stock worth $398,427,000 after buying an additional 7,435 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new stake in Universal Display during the 2nd quarter worth approximately $127,668,000. Van ECK Associates Corp raised its stake in 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 acquiring an additional 108,394 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Universal Display by 27.3% in the second quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company’s stock worth $98,725,000 after purchasing an additional 100,809 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Universal Display by 5.1% in the second quarter. Bank of New York Mellon Corp now owns 424,078 shares of the semiconductor company’s stock worth $89,162,000 after purchasing an additional 20,737 shares in the last quarter. 78.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

OLED has been the topic of a number of analyst reports. 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. TD Cowen cut their target price on Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Needham & Company LLC lowered their price target on Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Universal Display presently has a consensus rating of “Moderate Buy” and an average price target of $210.71.

Insider Transactions at Universal Display

In related news, Director Lawrence Lacerte purchased 742 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average price of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the transaction, the director now owns 122,372 shares in the company, valued at approximately $22,135,871.08. The trade was a 0.61 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.90% of the company’s stock.

Universal Display Trading Down 0.7 %

NASDAQ:OLED opened at $149.53 on Friday. The business’s 50-day moving average is $176.86 and its 200 day moving average is $193.47. Universal Display Co. has a 12 month low of $148.09 and a 12 month high of $237.00. The company has a market capitalization of $7.10 billion, a P/E ratio of 30.03, a P/E/G ratio of 1.74 and a beta of 1.39.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping 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 business had revenue of $161.63 million for the quarter, compared to analysts’ expectations of $165.28 million. During the same period in the prior year, the firm earned $1.08 EPS. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, research analysts forecast that Universal Display Co. will post 4.8 earnings per share for the current year.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a $0.40 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.07%. Universal Display’s dividend payout ratio (DPR) is presently 32.13%.

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.