Universal Display Co. (NASDAQ:OLED) Shares Acquired by Synovus Financial Corp

Synovus Financial Corp increased its stake in shares of Universal Display Co. (NASDAQ:OLED) by 41.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,277 shares of the semiconductor company’s stock after purchasing an additional 2,419 shares during the quarter. Synovus Financial Corp’s holdings in Universal Display were worth $1,738,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OLED. Nisa Investment Advisors LLC lifted its stake in shares of Universal Display by 60.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 65 shares during the period. CIBC Asset Management Inc raised its holdings in Universal Display by 7.6% during the second quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company’s stock worth $284,000 after purchasing an additional 96 shares in the last quarter. UMB Bank n.a. lifted its position in Universal Display by 42.1% in the third quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock valued at $68,000 after purchasing an additional 96 shares during the period. Glenmede Trust Co. NA boosted its holdings in Universal Display by 1.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,046 shares of the semiconductor company’s stock valued at $1,269,000 after purchasing an additional 97 shares in the last quarter. Finally, Prospera Financial Services Inc increased its position in Universal Display by 4.4% during the 3rd quarter. Prospera Financial Services Inc now owns 2,576 shares of the semiconductor company’s stock worth $542,000 after purchasing an additional 108 shares during the period. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on OLED shares. Needham & Company LLC reduced their price target on Universal Display from $242.00 to $215.00 and set a “buy” 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, Oppenheimer lowered their price target on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Universal Display has a consensus rating of “Moderate Buy” and an average price target of $215.63.

Insider Activity

In other news, Director Lawrence Lacerte bought 742 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average price of $180.89 per share, with a total value of $134,220.38. Following the purchase, the director now owns 122,372 shares of the company’s stock, valued at $22,135,871.08. This trade represents a 0.61 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.90% of the company’s stock.

Universal Display Stock Up 1.1 %

NASDAQ:OLED opened at $162.80 on Monday. The stock has a fifty day simple moving average of $181.26 and a 200-day simple moving average of $194.34. Universal Display Co. has a 52-week low of $148.75 and a 52-week high of $237.00. The company has a market capitalization of $7.73 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 1.74 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 (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.21. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The company had revenue of $161.63 million for the quarter, compared to the consensus estimate of $165.28 million. During the same quarter in the prior year, the firm earned $1.08 earnings per share. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. As a group, equities analysts anticipate that Universal Display Co. will post 4.8 earnings per share for the current year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.98%. Universal Display’s dividend payout ratio (DPR) is 32.13%.

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.