Insider Buying: Universal Display Co. (NASDAQ:OLED) Director Acquires 742 Shares of Stock

Universal Display Co. (NASDAQ:OLED) Director Lawrence Lacerte bought 742 shares of the firm’s stock in a transaction 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 approximately $22,135,871.08. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Universal Display Stock Performance

NASDAQ:OLED traded up $5.89 during mid-day trading on Wednesday, hitting $186.69. 224,296 shares of the stock were exchanged, compared to its average volume of 369,120. The stock has a market capitalization of $8.86 billion, a price-to-earnings ratio of 36.31, a price-to-earnings-growth ratio of 1.93 and a beta of 1.43. The firm’s 50-day simple moving average is $200.94 and its 200 day simple moving average is $194.93. Universal Display Co. has a fifty-two week low of $146.99 and a fifty-two week high of $237.00.

Universal Display (NASDAQ:OLED) last released 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 business had revenue of $161.63 million during the quarter, compared to analysts’ expectations of $165.28 million. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period last year, the firm posted $1.08 EPS. On average, analysts predict that Universal Display Co. will post 4.79 EPS for the current fiscal year.

Universal Display Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued 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 yield of 0.86%. Universal Display’s payout ratio is currently 32.13%.

Hedge Funds Weigh In On Universal Display

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SageView Advisory Group LLC acquired a new position in Universal Display in the 1st quarter valued at $1,179,000. Montag A & Associates Inc. increased its stake in shares of Universal Display by 28.9% in the 1st quarter. Montag A & Associates Inc. now owns 11,848 shares of the semiconductor company’s stock valued at $1,996,000 after purchasing an additional 2,655 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Universal Display by 172.0% in the 1st quarter. Tidal Investments LLC now owns 6,246 shares of the semiconductor company’s stock valued at $1,052,000 after purchasing an additional 3,950 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Universal Display in the 1st quarter valued at $1,001,000. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Universal Display by 375.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,043 shares of the semiconductor company’s stock valued at $2,112,000 after purchasing an additional 7,929 shares during the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OLED. Susquehanna upped their price objective on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Oppenheimer reduced their price target on Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. The Goldman Sachs Group increased their price target on Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Roth Mkm raised their price objective on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Needham & Company LLC cut their price objective on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Universal Display presently has a consensus 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.