Geode Capital Management LLC Increases Stock Holdings in Universal Display Co. (NASDAQ:OLED)

Geode Capital Management LLC grew its stake in Universal Display Co. (NASDAQ:OLED) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 799,352 shares of the semiconductor company’s stock after purchasing an additional 15,015 shares during the period. Geode Capital Management LLC’s holdings in Universal Display were worth $167,825,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of OLED. Assetmark Inc. acquired a new position in Universal Display in the 3rd quarter valued at $29,000. Brooklyn Investment Group purchased a new stake in shares of Universal Display in the third quarter valued at about $30,000. V Square Quantitative Management LLC acquired a new position in shares of Universal Display during the third quarter worth about $31,000. Nisa Investment Advisors LLC raised its holdings in 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 in the last quarter. Finally, True Wealth Design LLC acquired a new stake in Universal Display in the third quarter valued at about $36,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on OLED shares. Needham & Company LLC dropped their target price 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. Oppenheimer dropped their price objective on Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, TD Cowen cut their price objective on Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $215.63.

Insider Activity at Universal Display

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

Universal Display Stock Performance

OLED opened at $162.80 on Monday. Universal Display Co. has a one year low of $148.75 and a one year high of $237.00. The company has a market cap of $7.73 billion, a price-to-earnings ratio of 32.69, a PEG ratio of 1.74 and a beta of 1.39. The business’s fifty day moving average is $181.26 and its two-hundred day moving average is $194.34.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.21. The firm had revenue of $161.63 million for 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 firm’s revenue was up 14.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.08 EPS. On average, analysts predict that Universal Display Co. will post 4.8 EPS for the current fiscal year.

Universal Display Dividend Announcement

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