Bridgewater Associates LP Makes New $8.34 Million Investment in Universal Display Co. (NASDAQ:OLED)

Bridgewater Associates LP bought a new stake in Universal Display Co. (NASDAQ:OLED) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 39,715 shares of the semiconductor company’s stock, valued at approximately $8,336,000. Bridgewater Associates LP owned 0.08% of Universal Display as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. BNP Paribas Financial Markets boosted its stake in shares of Universal Display by 8.8% in the third quarter. BNP Paribas Financial Markets now owns 52,713 shares of the semiconductor company’s stock worth $11,064,000 after acquiring an additional 4,269 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Universal Display during the 3rd quarter worth $30,000. Truvestments Capital LLC purchased a new stake in shares of Universal Display during the third quarter worth $72,000. Swedbank AB raised its position in shares of Universal Display by 14.9% in the third quarter. Swedbank AB now owns 5,364 shares of the semiconductor company’s stock valued at $1,126,000 after buying an additional 696 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Universal Display by 385.2% in the third quarter. Cerity Partners LLC now owns 8,588 shares of the semiconductor company’s stock worth $1,803,000 after buying an additional 6,818 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on OLED. Oppenheimer cut their price objective on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. TD Cowen reduced their price objective on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Needham & Company LLC dropped their target price on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Susquehanna lifted their price target on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Roth Mkm upped their price objective 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. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Universal Display currently has a consensus rating of “Moderate Buy” and an average target price of $215.63.

Universal Display Price Performance

NASDAQ OLED opened at $161.17 on Friday. The stock has a market capitalization of $7.65 billion, a P/E ratio of 32.36, a PEG ratio of 1.73 and a beta of 1.43. The firm’s 50-day moving average is $192.90 and its two-hundred day moving average is $195.44. Universal Display Co. has a 12 month low of $148.75 and a 12 month high of $237.00.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 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 for the quarter, compared to analyst estimates of $165.28 million. During the same period in the prior year, the business posted $1.08 EPS. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. As a group, analysts anticipate that Universal Display Co. will post 4.8 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. Investors of record on Tuesday, December 17th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Tuesday, December 17th. Universal Display’s payout ratio is 32.13%.

Insider Activity at Universal Display

In other Universal Display news, Director Lawrence Lacerte bought 742 shares of Universal Display stock in a transaction on Monday, November 4th. The shares were bought at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the acquisition, the director now directly owns 122,372 shares in the company, valued at $22,135,871.08. This represents a 0.61 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.90% of the stock is currently owned by company insiders.

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.