B. Riley Wealth Advisors Inc. Invests $273,000 in Universal Display Co. (NASDAQ:OLED)

B. Riley Wealth Advisors Inc. bought a new stake in shares of Universal Display Co. (NASDAQ:OLED) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,298 shares of the semiconductor company’s stock, valued at approximately $273,000.

A number of other hedge funds and other institutional investors have also modified their holdings of OLED. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Universal Display during the second quarter valued at about $127,668,000. Janus Henderson Group PLC raised its holdings in shares of Universal Display by 66.6% during the first quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock valued at $73,099,000 after acquiring an additional 173,496 shares during the period. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in shares of Universal Display in the 2nd quarter valued at approximately $34,558,000. Strategic Financial Concepts LLC acquired a new position in Universal Display in the 2nd quarter worth approximately $23,500,000. Finally, Dimensional Fund Advisors LP grew its position in Universal Display by 27.3% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on OLED. Susquehanna raised their target price on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. TD Cowen lifted their target price on Universal Display from $210.00 to $250.00 and gave the company a “buy” rating in a research note 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. Needham & Company LLC raised their price target on shares of Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Finally, The Goldman Sachs Group upped their price objective on shares of Universal Display from $208.00 to $243.00 and gave the company 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 assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.88.

Universal Display Stock Up 0.2 %

NASDAQ OLED opened at $209.96 on Wednesday. The company has a 50 day moving average price of $194.62 and a two-hundred day moving average price of $189.62. Universal Display Co. has a 12-month low of $133.67 and a 12-month high of $237.00. The stock has a market capitalization of $9.96 billion, a PE ratio of 45.64, a price-to-earnings-growth ratio of 2.26 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). Universal Display had a return on equity of 15.25% and a net margin of 35.74%. The business had revenue of $158.50 million during the quarter, compared to the consensus estimate of $159.46 million. During the same quarter in the prior year, the company posted $1.04 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, equities analysts anticipate that Universal Display Co. will post 4.81 EPS for the current year.

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Monday, September 16th. Universal Display’s payout ratio is 34.78%.

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.