Segall Bryant & Hamill LLC Grows Stake in Universal Display Co. (NASDAQ:OLED)

Segall Bryant & Hamill LLC raised its stake in Universal Display Co. (NASDAQ:OLED) by 21.1% during the third quarter, HoldingsChannel.com reports. The fund owned 109,030 shares of the semiconductor company’s stock after purchasing an additional 19,002 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Universal Display were worth $22,885,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in OLED. Nisa Investment Advisors LLC increased its stake in Universal Display by 60.2% during 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 during the last quarter. Red Spruce Capital LLC lifted its holdings in shares of Universal Display by 0.7% during the 2nd quarter. Red Spruce Capital LLC now owns 11,146 shares of the semiconductor company’s stock valued at $2,343,000 after purchasing an additional 76 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Universal Display by 7.6% in the second quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company’s stock worth $284,000 after acquiring an additional 96 shares in the last quarter. UMB Bank n.a. boosted its stake in Universal Display by 42.1% in the 3rd quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock worth $68,000 after purchasing an additional 96 shares in the last quarter. Finally, Prospera Financial Services Inc lifted 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 acquiring an additional 108 shares during the period. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Universal Display

In other Universal Display news, Director Lawrence Lacerte acquired 742 shares of the business’s stock in a transaction on Monday, November 4th. The stock was purchased at an average price of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the transaction, the director now owns 122,372 shares of the company’s stock, valued at $22,135,871.08. The trade was a 0.61 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by insiders.

Universal Display Stock Performance

Shares of Universal Display stock opened at $164.43 on Wednesday. The stock has a 50 day moving average of $197.59 and a 200 day moving average of $195.96. Universal Display Co. has a fifty-two week low of $148.75 and a fifty-two week high of $237.00. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of 33.02, a PEG ratio of 1.76 and a beta of 1.43.

Universal Display (NASDAQ:OLED) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.21. The firm had revenue of $161.63 million for the quarter, compared to analyst estimates of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 earnings per share. Analysts forecast that Universal Display Co. will post 4.79 EPS for the current year.

Universal Display Announces Dividend

The company also recently announced 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. 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 payout ratio is currently 32.13%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on OLED shares. Oppenheimer cut their price target on Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Susquehanna boosted their price target on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Needham & Company LLC dropped their price objective on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. TD Cowen decreased their target price on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Roth Mkm increased their price target on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $215.63.

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.