Brooklyn Investment Group Acquires Shares of 143 Universal Display Co. (NASDAQ:OLED)

Brooklyn Investment Group bought a new position in shares of Universal Display Co. (NASDAQ:OLED) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 143 shares of the semiconductor company’s stock, valued at approximately $30,000.

Other hedge funds 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 shares of Universal Display in the 3rd quarter valued at about $31,000. Nisa Investment Advisors LLC lifted its stake in shares of Universal Display by 60.2% in the third quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 65 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in Universal Display during the second quarter worth about $44,000. Finally, Tortoise Investment Management LLC acquired a new position in Universal Display during the second quarter worth about $47,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Oppenheimer reduced their price target on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Needham & Company LLC reduced their price objective on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, TD Cowen lowered their target price on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Universal Display presently has a consensus rating of “Moderate Buy” and an average target price of $215.63.

Universal Display Stock Performance

Shares of NASDAQ:OLED opened at $164.52 on Friday. The stock has a market cap of $7.81 billion, a PE ratio of 33.04, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43. The business’s fifty day moving average price is $190.97 and its two-hundred day moving average price is $195.15. Universal Display Co. has a one year low of $148.75 and a one year high of $237.00.

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 analysts’ consensus estimates of $1.19 by $0.21. The firm had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The firm’s revenue was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.08 earnings per share. As a group, equities research analysts predict that Universal Display Co. will post 4.8 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.40 dividend. 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 32.13%.

Insider Activity at Universal Display

In related news, Director Lawrence Lacerte bought 742 shares of the business’s stock in a transaction on Monday, November 4th. The shares were bought at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the purchase, the director now owns 122,372 shares of the company’s stock, valued at $22,135,871.08. This represents a 0.61 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.

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.