State Street Corp Sells 27,235 Shares of Universal Display Co. (NASDAQ:OLED)

State Street Corp lowered its position in shares of Universal Display Co. (NASDAQ:OLED) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,528,783 shares of the semiconductor company’s stock after selling 27,235 shares during the quarter. State Street Corp owned 3.22% of Universal Display worth $320,892,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Stifel Financial Corp grew its stake in Universal Display by 200.0% in the 3rd quarter. Stifel Financial Corp now owns 120,234 shares of the semiconductor company’s stock valued at $25,237,000 after purchasing an additional 80,162 shares during the period. Systematic Financial Management LP boosted its holdings in shares of Universal Display by 2.1% in the 3rd quarter. Systematic Financial Management LP now owns 126,091 shares of the semiconductor company’s stock worth $26,467,000 after buying an additional 2,552 shares during the last quarter. Quantinno Capital Management LP grew its position in Universal Display by 28.1% during the third quarter. Quantinno Capital Management LP now owns 15,614 shares of the semiconductor company’s stock valued at $3,278,000 after buying an additional 3,422 shares during the period. Quarry LP increased its holdings in Universal Display by 1,347.8% during the third quarter. Quarry LP now owns 333 shares of the semiconductor company’s stock worth $70,000 after buying an additional 310 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in Universal Display in the third quarter worth about $607,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on OLED. TD Cowen reduced their target price on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. 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. Finally, Needham & Company LLC lowered their target price 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $215.63.

Universal Display Price Performance

NASDAQ:OLED opened at $155.30 on Wednesday. Universal Display Co. has a 1 year low of $148.75 and a 1 year high of $237.00. The stock’s fifty day moving average price is $184.11 and its two-hundred day moving average price is $194.68. The company has a market cap of $7.37 billion, a P/E ratio of 31.18, a P/E/G ratio of 1.69 and a beta of 1.40.

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

Universal Display Dividend Announcement

The company 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 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 1.03%. Universal Display’s dividend payout ratio is currently 32.13%.

Insider Buying and Selling

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

Universal Display 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.