Universal Display Co. (NASDAQ:OLED) Shares Sold by Bouvel Investment Partners LLC

Bouvel Investment Partners LLC reduced its stake in Universal Display Co. (NASDAQ:OLED) by 1.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,781 shares of the semiconductor company’s stock after selling 89 shares during the quarter. Bouvel Investment Partners LLC’s holdings in Universal Display were worth $1,213,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in OLED. Assetmark Inc. acquired a new position in Universal Display during the third quarter worth $29,000. V Square Quantitative Management LLC acquired a new position in Universal Display during the 3rd quarter worth about $31,000. Nisa Investment Advisors LLC boosted its holdings in Universal Display by 60.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 65 shares during the period. Itau Unibanco Holding S.A. acquired a new position in Universal Display in the 2nd quarter valued at about $44,000. Finally, Tortoise Investment Management LLC purchased a new stake in Universal Display during the second quarter worth about $47,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Insider Transactions at Universal Display

In other news, Director Lawrence Lacerte purchased 742 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average price of $180.89 per share, for a total transaction of $134,220.38. Following the purchase, the director now directly owns 122,372 shares of the company’s stock, valued at $22,135,871.08. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.

Universal Display Stock Performance

OLED opened at $167.64 on Thursday. Universal Display Co. has a one year low of $148.75 and a one year high of $237.00. The company has a market cap of $7.96 billion, a P/E ratio of 33.66, a PEG ratio of 1.85 and a beta of 1.43. The business’s 50-day simple moving average is $199.53 and its 200-day simple moving average is $195.57.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data 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. 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 analysts’ expectations of $165.28 million. During the same quarter last year, the company earned $1.08 earnings per share. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. As a group, analysts predict that Universal Display Co. will post 4.79 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Tuesday, December 17th. Universal Display’s payout ratio is 32.13%.

Analysts Set New Price Targets

Several research analysts have recently commented on OLED shares. The Goldman Sachs Group raised their price objective on shares of Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Oppenheimer decreased 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. Roth Mkm upped their price objective on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Susquehanna lifted their target price on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Needham & Company LLC cut their price target on Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $215.63.

About Universal Display

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.