International Assets Investment Management LLC Buys New Stake in Universal Display Co. (NASDAQ:OLED)

International Assets Investment Management LLC bought a new stake in shares of Universal Display Co. (NASDAQ:OLED) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 32,325 shares of the semiconductor company’s stock, valued at approximately $6,785,000. International Assets Investment Management LLC owned 0.07% of Universal Display at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. ORG Partners LLC purchased a new position in Universal Display in the first quarter valued at $27,000. V Square Quantitative Management LLC purchased a new position in Universal Display in the third quarter valued at $31,000. Geneos Wealth Management Inc. increased its holdings in Universal Display by 210.7% in the first quarter. Geneos Wealth Management Inc. now owns 233 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 158 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Universal Display in the second quarter valued at $44,000. Finally, Tortoise Investment Management LLC purchased a new position in Universal Display in the second quarter valued at $47,000. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Trading Down 11.2 %

OLED opened at $180.32 on Friday. The firm has a market capitalization of $8.55 billion, a PE ratio of 39.20, a PEG ratio of 2.16 and a beta of 1.42. Universal Display Co. has a twelve month low of $133.67 and a twelve month high of $237.00. The firm’s 50-day moving average price is $201.79 and its 200 day moving average price is $193.89.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. The firm had revenue of $161.63 million for the quarter, compared to analyst estimates of $165.28 million. Universal Display had a net margin of 35.74% and a return on equity of 15.25%. Universal Display’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.08 earnings per share. As a group, analysts predict that Universal Display Co. will post 4.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on OLED shares. Roth Mkm lifted their price objective on shares of Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Oppenheimer cut their target price 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. Needham & Company LLC cut their target price 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. TD Cowen cut their target price 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. Finally, The Goldman Sachs Group boosted their target price on shares of Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $215.63.

About Universal Display

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.