Assetmark Inc. Makes New $29,000 Investment in Universal Display Co. (NASDAQ:OLED)

Assetmark Inc. bought a new stake in Universal Display Co. (NASDAQ:OLED) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 139 shares of the semiconductor company’s stock, valued at approximately $29,000.

Several other hedge funds have also made changes to their positions in OLED. V Square Quantitative Management LLC purchased a new stake in Universal Display during the 3rd quarter valued at approximately $31,000. Nisa Investment Advisors LLC raised its stake in shares of Universal Display by 60.2% during the third 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. Itau Unibanco Holding S.A. acquired a new stake in shares of Universal Display during the second quarter worth $44,000. Tortoise Investment Management LLC purchased a new position in Universal Display in the 2nd quarter valued at $47,000. Finally, SouthState Corp acquired a new position in Universal Display in the 2nd quarter valued at $48,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

Insider Buying and Selling

In other Universal Display news, Director Lawrence Lacerte purchased 742 shares of the stock in a transaction dated Monday, November 4th. The shares were bought at an average cost of $180.89 per share, with a total value of $134,220.38. Following the completion of the transaction, the director now owns 122,372 shares in the company, valued at $22,135,871.08. This trade represents a 0.61 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Universal Display Stock Down 0.5 %

Shares of NASDAQ:OLED opened at $164.43 on Wednesday. The company’s fifty day moving average is $197.59 and its two-hundred day moving average is $195.96. The company has a market cap of $7.80 billion, a P/E ratio of 33.02, a price-to-earnings-growth ratio of 1.76 and a beta of 1.43. Universal Display Co. has a 12-month low of $148.75 and a 12-month high of $237.00.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.21. The firm had revenue of $161.63 million during the quarter, compared to analyst estimates of $165.28 million. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period last year, the company posted $1.08 EPS. Equities research analysts anticipate that Universal Display Co. will post 4.79 earnings per share for the current year.

Universal Display Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Tuesday, December 17th. Universal Display’s payout ratio is presently 32.13%.

Universal Display Company 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.