Healthcare of Ontario Pension Plan Trust Fund Decreases Stock Position in Universal Display Co. (NASDAQ:OLED)

Healthcare of Ontario Pension Plan Trust Fund cut its stake in Universal Display Co. (NASDAQ:OLED) by 11.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,470 shares of the semiconductor company’s stock after selling 5,729 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Universal Display were worth $9,334,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of OLED. Assetmark Inc. acquired a new position in Universal Display during the 3rd quarter valued at approximately $29,000. Brooklyn Investment Group bought a new stake in shares of Universal Display during the 3rd quarter worth about $30,000. V Square Quantitative Management LLC bought a new position in Universal Display during the 3rd quarter valued at $31,000. Nisa Investment Advisors LLC boosted its stake in Universal Display by 60.2% during the third quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 65 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Universal Display in the 2nd quarter worth approximately $44,000. Institutional investors own 78.19% of the company’s stock.

Universal Display Price Performance

Shares of NASDAQ:OLED opened at $164.52 on Friday. Universal Display Co. has a 1 year low of $148.75 and a 1 year high of $237.00. The business’s 50 day simple moving average is $191.91 and its 200 day simple moving average is $195.21. The company has a market capitalization of $7.81 billion, a P/E ratio of 32.36, a P/E/G ratio of 1.73 and a beta of 1.43.

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

Universal Display Announces Dividend

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 issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Tuesday, December 17th. Universal Display’s dividend payout ratio (DPR) is 32.13%.

Insider Buying and Selling

In other news, Director Lawrence Lacerte purchased 742 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were purchased 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 trade represents a 0.61 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Needham & Company LLC reduced their price objective on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. 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 report on Thursday, October 31st. Oppenheimer lowered their price target on Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Roth Mkm raised their price objective on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Susquehanna increased their target price on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.