Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in Universal Display Co. (NASDAQ:OLED)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Universal Display Co. (NASDAQ:OLED) by 22.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,680 shares of the semiconductor company’s stock after purchasing an additional 2,169 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Universal Display were worth $2,452,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its holdings in Universal Display by 60.2% during 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 in the last quarter. CIBC Asset Management Inc lifted its holdings in Universal Display by 7.6% during the second quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company’s stock valued at $284,000 after purchasing an additional 96 shares in the last quarter. UMB Bank n.a. lifted its holdings in Universal Display by 42.1% during the third quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock valued at $68,000 after purchasing an additional 96 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in Universal Display by 1.6% during the third quarter. Glenmede Trust Co. NA now owns 6,046 shares of the semiconductor company’s stock valued at $1,269,000 after purchasing an additional 97 shares in the last quarter. Finally, Prospera Financial Services Inc lifted its holdings in Universal Display by 4.4% during the third quarter. Prospera Financial Services Inc now owns 2,576 shares of the semiconductor company’s stock valued at $542,000 after purchasing an additional 108 shares in the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Universal Display

In related news, Director Lawrence Lacerte purchased 742 shares of the company’s stock in a transaction on Monday, November 4th. The stock was acquired at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the transaction, the director now directly owns 122,372 shares in the company, valued at approximately $22,135,871.08. The trade was a 0.61 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OLED. Needham & Company LLC reduced their target price on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Oppenheimer reduced their target price 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. Finally, TD Cowen reduced 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 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $215.63.

Universal Display Trading Down 0.8 %

Universal Display stock opened at $164.36 on Wednesday. Universal Display Co. has a 12-month low of $148.75 and a 12-month high of $237.00. The stock has a market cap of $7.80 billion, a P/E ratio of 33.05, a PEG ratio of 1.77 and a beta of 1.39. The company has a 50-day moving average price of $190.03 and a 200 day moving average price of $195.37.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.21. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The firm had revenue of $161.63 million during the quarter, compared to analysts’ expectations of $165.28 million. During the same period last year, the business earned $1.08 earnings per share. Universal Display’s revenue was up 14.6% compared to the same quarter last year. As a group, analysts forecast that Universal Display Co. will post 4.8 EPS for the current year.

Universal Display Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Tuesday, December 17th. Universal Display’s dividend payout ratio is presently 32.13%.

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.