Polar Asset Management Partners Inc. Sells 17,400 Shares of Universal Display Co. (NASDAQ:OLED)

Polar Asset Management Partners Inc. decreased its holdings in Universal Display Co. (NASDAQ:OLED) by 21.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,100 shares of the semiconductor company’s stock after selling 17,400 shares during the quarter. Polar Asset Management Partners Inc. owned 0.13% of Universal Display worth $13,245,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Assetmark Inc. purchased a new position in shares of Universal Display in the third quarter worth $29,000. Brooklyn Investment Group bought a new position in Universal Display during the third quarter valued at $30,000. V Square Quantitative Management LLC bought a new position in Universal Display during the third quarter valued at $31,000. Nisa Investment Advisors LLC grew its holdings in shares of Universal Display by 60.2% in 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 during the last quarter. Finally, True Wealth Design LLC bought a new position in shares of Universal Display in the third quarter worth about $36,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OLED. TD Cowen lowered their price objective on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Oppenheimer cut their price objective on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, Needham & Company LLC cut their price target on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $215.63.

Universal Display Price Performance

Universal Display stock opened at $164.36 on Wednesday. Universal Display Co. has a 12 month low of $148.75 and a 12 month high of $237.00. The business has a 50 day simple moving average of $189.03 and a 200-day simple moving average of $195.31. The stock has a market capitalization of $7.80 billion, a PE ratio of 33.00, a price-to-earnings-growth ratio of 1.77 and a beta of 1.39.

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. 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 business’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter last year, the business posted $1.08 earnings per share. As a group, equities research analysts anticipate that Universal Display Co. will post 4.8 EPS for the current year.

Universal Display Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Tuesday, December 17th. Universal Display’s payout ratio is 32.13%.

Insider Activity

In other Universal Display news, Director Lawrence Lacerte acquired 742 shares of the company’s stock in a transaction on Monday, November 4th. The shares were bought at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the acquisition, the director now directly owns 122,372 shares of the company’s stock, valued at $22,135,871.08. This trade represents a 0.61 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.90% of the company’s stock.

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.