Universal Display Co. (NASDAQ:OLED) Shares Sold by Mill Creek Capital Advisors LLC

Mill Creek Capital Advisors LLC decreased its holdings in Universal Display Co. (NASDAQ:OLED) by 1.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 13,648 shares of the semiconductor company’s stock after selling 154 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in Universal Display were worth $2,865,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OLED. Nisa Investment Advisors LLC grew its stake in shares of Universal Display by 60.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 65 shares during the period. Red Spruce Capital LLC increased its holdings in Universal Display by 0.7% in the second quarter. Red Spruce Capital LLC now owns 11,146 shares of the semiconductor company’s stock valued at $2,343,000 after buying an additional 76 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Universal Display by 7.6% during the 2nd quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company’s stock valued at $284,000 after acquiring an additional 96 shares during the period. UMB Bank n.a. boosted its stake in shares of Universal Display by 42.1% during the 3rd quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock worth $68,000 after acquiring an additional 96 shares in the last quarter. Finally, Bahl & Gaynor Inc. grew its holdings in shares of Universal Display by 0.5% in the 1st quarter. Bahl & Gaynor Inc. now owns 18,645 shares of the semiconductor company’s stock worth $3,141,000 after acquiring an additional 101 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Stock Performance

Shares of OLED opened at $164.03 on Friday. Universal Display Co. has a 1 year low of $148.75 and a 1 year high of $237.00. The company’s 50 day simple moving average is $198.71 and its 200 day simple moving average is $195.64. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 32.94, a PEG ratio of 1.76 and a beta of 1.43.

Universal Display (NASDAQ:OLED) last issued its quarterly 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 company 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 revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.08 EPS. Equities analysts expect that Universal Display Co. will post 4.79 EPS for the current fiscal year.

Universal Display Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.98%. The ex-dividend date is Tuesday, December 17th. Universal Display’s dividend payout ratio (DPR) is 32.13%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Oppenheimer decreased their target price 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. TD Cowen decreased 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. Roth Mkm raised their target price on shares of Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Susquehanna upped their price target on shares of 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 dropped 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 note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $215.63.

Insider Activity

In related news, Director Lawrence Lacerte bought 742 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 122,372 shares of the company’s stock, valued at approximately $22,135,871.08. The trade was a 0.61 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.90% of the company’s stock.

Universal Display Company 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.