M&T Bank Corp Raises Stock Position in Universal Display Co. (NASDAQ:OLED)

M&T Bank Corp lifted its position in Universal Display Co. (NASDAQ:OLED) by 12.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,086 shares of the semiconductor company’s stock after purchasing an additional 223 shares during the period. M&T Bank Corp’s holdings in Universal Display were worth $438,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of OLED. Envestnet Portfolio Solutions Inc. lifted its position in shares of Universal Display by 38.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 1,883 shares of the semiconductor company’s stock worth $396,000 after purchasing an additional 520 shares during the period. Raymond James & Associates boosted its position in Universal Display by 1.8% during the second quarter. Raymond James & Associates now owns 36,911 shares of the semiconductor company’s stock valued at $7,760,000 after purchasing an additional 647 shares in the last quarter. Fifth Third Bancorp grew its stake in Universal Display by 45.6% in the second quarter. Fifth Third Bancorp now owns 817 shares of the semiconductor company’s stock valued at $172,000 after purchasing an additional 256 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new position in Universal Display in the second quarter worth about $312,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Universal Display during the second quarter valued at about $142,000. Institutional investors own 78.19% of the company’s stock.

Analyst Ratings Changes

OLED has been the topic of a number of analyst reports. TD Cowen cut their price objective on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Needham & Company LLC decreased their price objective on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Oppenheimer dropped their target price on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Universal Display presently has an average rating of “Moderate Buy” and an average price target of $215.63.

Insider Activity at Universal Display

In related news, Director Lawrence Lacerte acquired 742 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were acquired at an average cost of $180.89 per share, with a total value of $134,220.38. Following the completion of the acquisition, the director now directly owns 122,372 shares in the company, valued at approximately $22,135,871.08. This trade represents a 0.61 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by corporate insiders.

Universal Display Stock Down 1.8 %

Shares of OLED opened at $155.85 on Wednesday. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of 31.30, a PEG ratio of 1.74 and a beta of 1.39. Universal Display Co. has a 52 week low of $148.75 and a 52 week high of $237.00. The stock’s 50-day moving average price is $179.17 and its 200-day moving average price is $194.08.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, topping the consensus estimate 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 quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 EPS. As a group, equities analysts anticipate that Universal Display Co. will post 4.8 EPS for the current fiscal year.

Universal Display Announces Dividend

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

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 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.