Empowered Funds LLC Purchases 320 Shares of Universal Display Co. (NASDAQ:OLED)

Empowered Funds LLC raised its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 21.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,833 shares of the semiconductor company’s stock after purchasing an additional 320 shares during the quarter. Empowered Funds LLC’s holdings in Universal Display were worth $385,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Assetmark Inc. bought a new position in shares of Universal Display in the third quarter valued at approximately $29,000. V Square Quantitative Management LLC bought a new position in Universal Display during the 3rd quarter valued at $31,000. Nisa Investment Advisors LLC boosted its holdings in 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 acquiring an additional 65 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Universal Display in the 2nd quarter worth $44,000. Finally, Tortoise Investment Management LLC purchased a new stake in shares of Universal Display in the second quarter valued at about $47,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on OLED shares. Susquehanna upped their price objective on shares of Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Roth Mkm upped their target price on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a report on Friday, August 2nd. TD Cowen dropped their price target on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Oppenheimer decreased their target price on Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, Needham & Company LLC lowered their target price on Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Universal Display has an average rating of “Moderate Buy” and a consensus price target of $215.63.

Insider Activity at Universal Display

In other news, Director Lawrence Lacerte bought 742 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average price 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 acquisition was disclosed in a legal filing with the SEC, which is available through this link. 1.90% of the stock is currently owned by corporate insiders.

Universal Display Stock Performance

Shares of Universal Display stock opened at $169.34 on Tuesday. The stock has a market capitalization of $8.04 billion, a P/E ratio of 34.00, a P/E/G ratio of 1.80 and a beta of 1.43. Universal Display Co. has a 52-week low of $148.75 and a 52-week high of $237.00. The stock’s 50-day simple moving average is $194.63 and its 200 day simple moving average is $195.75.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results 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 analyst estimates of $165.28 million. During the same quarter in the previous year, the firm posted $1.08 earnings per share. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. Equities research analysts forecast that Universal Display Co. will post 4.8 EPS for the current fiscal year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Tuesday, December 17th. 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.