Thrivent Financial for Lutherans Grows Stock Position in Universal Display Co. (NASDAQ:OLED)

Thrivent Financial for Lutherans lifted its stake in shares of Universal Display Co. (NASDAQ:OLED) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,015 shares of the semiconductor company’s stock after purchasing an additional 605 shares during the quarter. Thrivent Financial for Lutherans owned about 0.29% of Universal Display worth $29,180,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Assetmark Inc. purchased a new position in Universal Display in the third quarter worth $29,000. V Square Quantitative Management LLC purchased a new position in Universal Display in the third quarter worth $31,000. Nisa Investment Advisors LLC raised its position in 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 acquiring an additional 65 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Universal Display in the second quarter worth $44,000. Finally, Tortoise Investment Management LLC purchased a new position in Universal Display in the second quarter worth $47,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Stock Down 0.5 %

OLED opened at $164.43 on Wednesday. The firm has a market cap of $7.80 billion, a P/E ratio of 33.02, a PEG ratio of 1.76 and a beta of 1.43. Universal Display Co. has a 52 week low of $148.75 and a 52 week high of $237.00. The business’s fifty day simple moving average is $197.59 and its 200 day simple moving average is $195.96.

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 analysts’ consensus estimates of $1.19 by $0.21. The business had revenue of $161.63 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company earned $1.08 earnings per share. As a group, equities analysts expect that Universal Display Co. will post 4.79 EPS for the current fiscal year.

Universal Display Announces Dividend

The business 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Tuesday, December 17th. Universal Display’s payout ratio is currently 32.13%.

Insiders Place Their Bets

In other Universal Display news, Director Lawrence Lacerte purchased 742 shares of the firm’s stock in a transaction on 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 purchase, the director now owns 122,372 shares in the company, valued at approximately $22,135,871.08. This represents a 0.61 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on OLED. TD Cowen cut their price objective on Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Susquehanna upped their target price on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Oppenheimer lowered their target price on Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Roth Mkm upped their target price on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a report on Friday, August 2nd. 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 report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.