QRG Capital Management Inc. Grows Position in Universal Display Co. (NASDAQ:OLED)

QRG Capital Management Inc. boosted its position in Universal Display Co. (NASDAQ:OLED) by 26.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,509 shares of the semiconductor company’s stock after acquiring an additional 315 shares during the quarter. QRG Capital Management Inc.’s holdings in Universal Display were worth $317,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in OLED. Nisa Investment Advisors LLC lifted its position in shares of Universal Display by 60.2% during 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 during the last quarter. Red Spruce Capital LLC raised its position in shares of Universal Display by 0.7% during the 2nd quarter. Red Spruce Capital LLC now owns 11,146 shares of the semiconductor company’s stock worth $2,343,000 after acquiring an additional 76 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Universal Display by 7.6% during the 2nd quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company’s stock worth $284,000 after acquiring an additional 96 shares in the last quarter. UMB Bank n.a. lifted its stake in Universal Display by 42.1% during the third quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock worth $68,000 after purchasing an additional 96 shares during the last quarter. Finally, Bahl & Gaynor Inc. boosted its holdings in Universal Display by 0.5% in the first 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. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Trading Down 2.8 %

NASDAQ:OLED opened at $174.92 on Tuesday. Universal Display Co. has a 12-month low of $148.75 and a 12-month high of $237.00. The stock’s 50 day simple moving average is $200.10 and its 200-day simple moving average is $195.67. The firm has a market cap of $8.30 billion, a P/E ratio of 35.12, a PEG ratio of 1.93 and a beta of 1.43.

Universal Display (NASDAQ:OLED) last announced 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 net margin of 36.98% and a return on equity of 15.75%. The company had revenue of $161.63 million for the quarter, compared to analysts’ expectations of $165.28 million. During the same period in the previous year, the company posted $1.08 EPS. Universal Display’s revenue was up 14.6% compared to the same quarter last year. Research analysts forecast that Universal Display Co. will post 4.79 EPS for the current fiscal year.

Universal Display Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.60 dividend on an annualized basis and a yield of 0.91%. Universal Display’s payout ratio is currently 32.13%.

Insider Buying and Selling at Universal Display

In other Universal Display news, Director Lawrence Lacerte bought 742 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was acquired at an average cost of $180.89 per share, with a total value of $134,220.38. Following the purchase, the director now owns 122,372 shares in the company, valued at approximately $22,135,871.08. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on OLED. Roth Mkm raised their price objective on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. TD Cowen decreased 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 note on Thursday, October 31st. Needham & Company LLC cut their target price on Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. The Goldman Sachs Group upped their target price on Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Susquehanna lifted 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Universal Display presently has a consensus rating of “Moderate Buy” and an average 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.