Universal Display Co. (NASDAQ:OLED) Stake Lifted by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL increased its stake in Universal Display Co. (NASDAQ:OLED) by 27.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,498 shares of the semiconductor company’s stock after acquiring an additional 545 shares during the period. Chesapeake Capital Corp IL’s holdings in Universal Display were worth $514,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in OLED. Assetmark Inc. purchased a new stake in shares of Universal Display in the 3rd quarter valued at approximately $29,000. V Square Quantitative Management LLC purchased a new stake in shares of Universal Display in the 3rd quarter valued at approximately $31,000. Nisa Investment Advisors LLC lifted its position in shares of Universal Display by 60.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 65 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Universal Display in the 2nd quarter worth approximately $44,000. Finally, Tortoise Investment Management LLC purchased a new stake in Universal Display in the 2nd quarter worth approximately $47,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Stock Performance

Shares of NASDAQ OLED opened at $164.03 on Friday. The stock has a market cap of $7.78 billion, a P/E ratio of 32.94, a P/E/G ratio of 1.76 and a beta of 1.43. The firm has a 50 day moving average price of $198.71 and a 200 day moving average price of $195.64. Universal Display Co. has a 52-week low of $148.75 and a 52-week high of $237.00.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.21. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The firm 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 business’s revenue was up 14.6% on a year-over-year basis. Analysts predict that Universal Display Co. will post 4.79 earnings per share for the current fiscal 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 given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Tuesday, December 17th. Universal Display’s dividend payout ratio is presently 32.13%.

Insider Transactions at Universal Display

In other news, Director Lawrence Lacerte bought 742 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the acquisition, the director now owns 122,372 shares in the company, valued at approximately $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 the SEC website. 1.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on OLED. Susquehanna increased their target price 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 increased their target price on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research 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 report on Thursday, October 31st. 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 report on Thursday, October 31st. Finally, TD Cowen dropped 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 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 presently has an average rating of “Moderate Buy” and a consensus 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.