Wealth Enhancement Advisory Services LLC Raises Stake in Universal Display Co. (NASDAQ:OLED)

Wealth Enhancement Advisory Services LLC increased its stake in shares of Universal Display Co. (NASDAQ:OLED) by 95.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 189,603 shares of the semiconductor company’s stock after buying an additional 92,410 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.40% of Universal Display worth $27,720,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. increased its stake in shares of Universal Display by 35.5% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 1,759 shares of the semiconductor company’s stock worth $369,000 after purchasing an additional 461 shares during the last quarter. Synovus Financial Corp increased its position in Universal Display by 41.3% in the third quarter. Synovus Financial Corp now owns 8,277 shares of the semiconductor company’s stock worth $1,738,000 after buying an additional 2,419 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Universal Display by 9.2% in the third quarter. Tidal Investments LLC now owns 7,037 shares of the semiconductor company’s stock valued at $1,477,000 after buying an additional 595 shares during the period. Wilmington Savings Fund Society FSB lifted its position in shares of Universal Display by 2.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,272 shares of the semiconductor company’s stock valued at $897,000 after buying an additional 118 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of Universal Display during the 3rd quarter worth $2,356,000. Institutional investors own 78.19% of the company’s stock.

Universal Display Trading Down 2.4 %

OLED stock opened at $148.07 on Friday. The firm has a 50 day moving average of $160.63 and a 200-day moving average of $188.26. The firm has a market capitalization of $7.03 billion, a P/E ratio of 29.73, a price-to-earnings-growth ratio of 1.74 and a beta of 1.40. Universal Display Co. has a 12 month low of $145.26 and a 12 month high of $237.00.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 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 firm had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. During the same period last year, the firm earned $1.08 EPS. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. Sell-side analysts predict that Universal Display Co. will post 4.8 EPS for the current year.

Universal Display Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.60 annualized dividend and a dividend yield of 1.08%. Universal Display’s payout ratio is currently 32.13%.

Insider Activity

In related news, Director Lawrence Lacerte acquired 742 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was bought at an average cost of $180.89 per share, with a total value of $134,220.38. Following the acquisition, the director now owns 122,372 shares of the company’s stock, valued at approximately $22,135,871.08. The trade was a 0.61 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. TD Cowen lowered their price objective on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Needham & Company LLC dropped their price target on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, Oppenheimer cut their price objective on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $207.86.

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.