Prudential Financial Inc. increased its holdings in shares of Universal Display Corporation (NASDAQ:OLED) by 33.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,320 shares of the semiconductor company’s stock after purchasing an additional 840 shares during the period. Prudential Financial Inc.’s holdings in Universal Display were worth $428,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mitra Capital LLC bought a new position in shares of Universal Display during the second quarter valued at approximately $109,000. IFP Advisors Inc boosted its stake in shares of Universal Display by 307.5% during the second quarter. IFP Advisors Inc now owns 1,080 shares of the semiconductor company’s stock valued at $118,000 after purchasing an additional 815 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Universal Display by 79.4% during the second quarter. BNP Paribas Arbitrage SA now owns 1,536 shares of the semiconductor company’s stock valued at $168,000 after purchasing an additional 680 shares in the last quarter. Oliver Luxxe Assets LLC bought a new position in shares of Universal Display during the third quarter valued at approximately $222,000. Finally, Daiwa Securities Group Inc. bought a new position in shares of Universal Display during the second quarter valued at approximately $197,000. Hedge funds and other institutional investors own 65.03% of the company’s stock.

OLED has been the topic of a number of recent research reports. Cowen set a $140.00 price objective on shares of Universal Display and gave the company a “buy” rating in a research note on Wednesday, October 11th. Zacks Investment Research downgraded shares of Universal Display from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Cross Research downgraded shares of Universal Display from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Goldman Sachs Group reiterated a “buy” rating and set a $161.00 price objective (up from $150.00) on shares of Universal Display in a research note on Monday, September 18th. Finally, Evercore ISI initiated coverage on shares of Universal Display in a research note on Thursday, November 30th. They set an “outperform” rating and a $225.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $155.30.

In other Universal Display news, Chairman Sherwin I. Seligsohn sold 50,000 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $150.00, for a total value of $7,500,000.00. Following the completion of the transaction, the chairman now owns 205,170 shares of the company’s stock, valued at $30,775,500. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Sidney D. Rosenblatt sold 50,240 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $135.02, for a total transaction of $6,783,404.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 196,974 shares of company stock valued at $30,133,174. 5.20% of the stock is owned by insiders.

Shares of Universal Display Corporation (OLED) opened at $172.70 on Monday. The firm has a market cap of $8,123.98, a P/E ratio of 84.66 and a beta of 1.06. Universal Display Corporation has a one year low of $55.30 and a one year high of $192.75.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.19. The company had revenue of $61.70 million during the quarter, compared to the consensus estimate of $47.35 million. Universal Display had a net margin of 32.92% and a return on equity of 16.67%. Universal Display’s revenue was up 104.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.03) earnings per share. research analysts forecast that Universal Display Corporation will post 2.33 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.12 annualized dividend and a yield of 0.07%. Universal Display’s dividend payout ratio (DPR) is 5.88%.

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Universal Display Company Profile

Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in display and solid-state lighting applications. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.

Institutional Ownership by Quarter for Universal Display (NASDAQ:OLED)

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