Peapack Gladstone Financial Corp Has $792,000 Holdings in Universal Display Co. (NASDAQ:OLED)

Peapack Gladstone Financial Corp decreased its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 8.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,770 shares of the semiconductor company’s stock after selling 356 shares during the period. Peapack Gladstone Financial Corp’s holdings in Universal Display were worth $792,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Universal Display during the 2nd quarter worth $127,668,000. Citigroup Inc. boosted its position in shares of Universal Display by 1,387.6% in the 3rd quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company’s stock worth $54,936,000 after purchasing an additional 244,129 shares during the last quarter. Raymond James & Associates increased its holdings in Universal Display by 629.9% in the third quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock valued at $56,550,000 after purchasing an additional 232,503 shares during the last quarter. Barclays PLC increased its holdings in Universal Display by 753.8% in the third quarter. Barclays PLC now owns 212,518 shares of the semiconductor company’s stock valued at $44,608,000 after purchasing an additional 187,627 shares during the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new position in Universal Display in the second quarter valued at about $34,558,000. 78.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on OLED shares. TD Cowen cut their price target on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Oppenheimer lowered their price objective on shares of 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 dropped their price target on Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research report 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $215.63.

Universal Display Price Performance

OLED stock opened at $162.80 on Monday. The stock has a market capitalization of $7.73 billion, a P/E ratio of 32.69, a P/E/G ratio of 1.74 and a beta of 1.39. Universal Display Co. has a fifty-two week low of $148.75 and a fifty-two week high of $237.00. The business has a 50-day moving average of $181.26 and a 200-day moving average of $194.34.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.21. The company had revenue of $161.63 million during the quarter, compared to analysts’ expectations of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The business’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period last year, the business earned $1.08 EPS. Equities analysts expect that Universal Display Co. will post 4.8 EPS for the current year.

Universal Display Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, December 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.98%. Universal Display’s dividend payout ratio is 32.13%.

Insider Activity

In other news, Director Lawrence Lacerte bought 742 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average cost of $180.89 per share, with a total value of $134,220.38. Following the completion of the purchase, the director now owns 122,372 shares of the company’s stock, valued at $22,135,871.08. This represents a 0.61 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.90% of the stock is owned by corporate insiders.

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.