True Wealth Design LLC Makes New Investment in Universal Display Co. (NASDAQ:OLED)

True Wealth Design LLC acquired a new stake in Universal Display Co. (NASDAQ:OLED) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 170 shares of the semiconductor company’s stock, valued at approximately $36,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Primecap Management Co. CA raised its position in Universal Display by 0.4% in the second quarter. Primecap Management Co. CA now owns 1,895,017 shares of the semiconductor company’s stock worth $398,427,000 after purchasing an additional 7,435 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Universal Display in the 2nd quarter worth approximately $127,668,000. Van ECK Associates Corp lifted its position in shares of Universal Display by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company’s stock worth $101,914,000 after buying an additional 108,394 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Universal Display by 27.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company’s stock worth $98,725,000 after buying an additional 100,809 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Universal Display by 5.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 424,078 shares of the semiconductor company’s stock valued at $89,162,000 after buying an additional 20,737 shares in the last quarter. 78.19% of the stock is owned by institutional investors.

Universal Display Trading Up 2.1 %

OLED opened at $164.52 on Monday. Universal Display Co. has a 1-year low of $148.75 and a 1-year high of $237.00. The firm has a 50-day moving average price of $190.97 and a two-hundred day moving average price of $195.29. The stock has a market capitalization of $7.81 billion, a PE ratio of 33.04, a PEG ratio of 1.76 and a beta of 1.43.

Universal Display (NASDAQ:OLED) last issued 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. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The business had revenue of $161.63 million during the quarter, compared to analyst estimates of $165.28 million. During the same quarter last year, the business posted $1.08 earnings per share. Universal Display’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, research analysts predict that Universal Display Co. will post 4.8 EPS for the current year.

Universal Display Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid 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 of this dividend is Tuesday, December 17th. Universal Display’s dividend payout ratio (DPR) is presently 32.13%.

Insider Activity at Universal Display

In other Universal Display news, Director Lawrence Lacerte purchased 742 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was acquired 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 directly owns 122,372 shares in the company, valued at approximately $22,135,871.08. This represents a 0.61 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages 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 report on Thursday, October 31st. Oppenheimer cut their price target on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, Needham & Company LLC reduced their price target on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company 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.