2,889 Shares in Universal Display Co. (NASDAQ:OLED) Bought by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC purchased a new position in shares of Universal Display Co. (NASDAQ:OLED) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,889 shares of the semiconductor company’s stock, valued at approximately $607,000.

A number of other institutional investors also recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. lifted its holdings in Universal Display by 614.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 12,254 shares of the semiconductor company’s stock worth $2,572,000 after buying an additional 10,538 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Universal Display by 20.6% during the 3rd quarter. HighTower Advisors LLC now owns 6,132 shares of the semiconductor company’s stock worth $1,287,000 after buying an additional 1,048 shares during the last quarter. Aureus Asset Management LLC purchased a new stake in Universal Display during the 3rd quarter worth about $221,000. Erste Asset Management GmbH purchased a new stake in shares of Universal Display in the 3rd quarter valued at about $83,000. Finally, True Wealth Design LLC purchased a new stake in shares of Universal Display in the 3rd quarter valued at about $36,000. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Stock Down 1.7 %

OLED opened at $155.30 on Wednesday. The business has a 50 day moving average price of $184.11 and a two-hundred day moving average price of $194.68. The company has a market cap of $7.37 billion, a PE ratio of 31.18, a P/E/G ratio of 1.69 and a beta of 1.40. Universal Display Co. has a 52 week low of $148.75 and a 52 week high of $237.00.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, beating 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 firm’s revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 EPS. As a group, sell-side analysts expect that Universal Display Co. will post 4.8 EPS for the current fiscal year.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.03%. The ex-dividend date is Tuesday, December 17th. Universal Display’s payout ratio is 32.13%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

OLED has been the subject of several research reports. Oppenheimer reduced their target price on Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. TD Cowen reduced their target price on Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, Needham & Company LLC reduced their target price on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.