Metropolitan Life Insurance Co NY lowered its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,948 shares of the semiconductor company’s stock after selling 304 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Universal Display were worth $2,342,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of OLED. BlackRock Inc. grew its position in shares of Universal Display by 0.6% during the 2nd quarter. BlackRock Inc. now owns 3,823,204 shares of the semiconductor company’s stock worth $718,991,000 after buying an additional 23,953 shares during the period. Griffin Asset Management Inc. lifted its position in shares of Universal Display by 5.3% during the 3rd quarter. Griffin Asset Management Inc. now owns 651,182 shares of the semiconductor company’s stock valued at $109,333,000 after acquiring an additional 32,973 shares during the period. Prudential Financial Inc. boosted its stake in Universal Display by 1,315.1% during the second quarter. Prudential Financial Inc. now owns 355,338 shares of the semiconductor company’s stock worth $66,825,000 after acquiring an additional 330,228 shares in the last quarter. Nuveen Asset Management LLC bought a new position in Universal Display during the second quarter worth $61,236,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in Universal Display by 5.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 297,408 shares of the semiconductor company’s stock worth $55,910,000 after purchasing an additional 15,308 shares during the period. Institutional investors and hedge funds own 66.11% of the company’s stock.

Several equities research analysts have weighed in on OLED shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Universal Display in a research note on Thursday, October 31st. Benchmark set a $175.00 price objective on shares of Universal Display and gave the stock a “buy” rating in a research report on Tuesday, September 17th. ValuEngine downgraded Universal Display from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BidaskClub lowered Universal Display from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, Susquehanna Bancshares reaffirmed a “negative” rating on shares of Universal Display in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $196.23.

OLED opened at $193.33 on Tuesday. The company’s fifty day moving average price is $189.53 and its two-hundred day moving average price is $187.67. Universal Display Co. has a 1-year low of $78.78 and a 1-year high of $230.32. The company has a market cap of $9.15 billion, a price-to-earnings ratio of 155.91, a PEG ratio of 2.08 and a beta of 1.52.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.21. The firm had revenue of $97.50 million for the quarter, compared to analyst estimates of $85.88 million. Universal Display had a net margin of 35.10% and a return on equity of 17.81%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period last year, the firm earned $0.48 earnings per share. On average, analysts forecast that Universal Display Co. will post 3.11 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.21%. Universal Display’s dividend payout ratio is presently 32.26%.

In other Universal Display news, Chairman Jonathan W. Painter sold 12,600 shares of Universal Display stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $100.26, for a total transaction of $1,263,276.00. Also, CEO Steven V. Abramson sold 31,182 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $222.02, for a total value of $6,923,027.64. Following the sale, the chief executive officer now directly owns 146,493 shares of the company’s stock, valued at $32,524,375.86. The disclosure for this sale can be found here. Insiders sold a total of 68,872 shares of company stock worth $13,193,088 in the last 90 days. 3.70% of the stock is currently owned by company 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 flat panel displays and solid-state lighting applications. As of February 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.

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Institutional Ownership by Quarter for Universal Display (NASDAQ:OLED)

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