Universal Display Co. (NASDAQ:OLED) Shares Purchased by NuWave Investment Management LLC

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NuWave Investment Management LLC raised its position in shares of Universal Display Co. (NASDAQ:OLED) by 7,239.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,844 shares of the semiconductor company’s stock after buying an additional 4,778 shares during the quarter. Universal Display comprises 0.8% of NuWave Investment Management LLC’s portfolio, making the stock its 29th largest position. NuWave Investment Management LLC’s holdings in Universal Display were worth $811,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. TCI Wealth Advisors Inc. raised its position in shares of Universal Display by 1,458.3% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 187 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 175 shares during the period. Capital Investment Advisory Services LLC raised its position in shares of Universal Display by 94.0% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 194 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 94 shares during the period. HM Payson & Co. acquired a new stake in shares of Universal Display during the 2nd quarter worth approximately $38,000. Meridian Wealth Management LLC acquired a new stake in shares of Universal Display during the 1st quarter worth approximately $31,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Universal Display during the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 69.05% of the company’s stock.

OLED stock traded up $4.27 on Tuesday, reaching $173.33. The company’s stock had a trading volume of 18,531 shares, compared to its average volume of 632,124. Universal Display Co. has a 52 week low of $78.78 and a 52 week high of $230.32. The company has a market capitalization of $8.04 billion, a P/E ratio of 139.88, a price-to-earnings-growth ratio of 2.10 and a beta of 1.47. The firm has a fifty day moving average of $185.69 and a two-hundred day moving average of $181.56.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.46. Universal Display had a return on equity of 16.52% and a net margin of 33.08%. The business had revenue of $118.17 million during the quarter, compared to analyst estimates of $79.26 million. During the same period in the prior year, the company posted $0.23 EPS. The business’s revenue for the quarter was up 110.5% compared to the same quarter last year. Research analysts anticipate that Universal Display Co. will post 2.68 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Friday, September 13th. Universal Display’s dividend payout ratio (DPR) is 32.26%.

A number of brokerages have recently weighed in on OLED. Oppenheimer cut Universal Display from an “outperform” rating to a “market perform” rating and set a $190.50 price target on the stock. in a research report on Wednesday, July 10th. They noted that the move was a valuation call. BidaskClub cut Universal Display from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Susquehanna Bancshares reiterated a “negative” rating on shares of Universal Display in a research report on Thursday, September 12th. Benchmark set a $175.00 price target on Universal Display and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Finally, Berenberg Bank began coverage on Universal Display in a research report on Wednesday, July 24th. They set a “hold” rating and a $192.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $187.23.

In other Universal Display news, Director C Keith Hartley sold 185 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $159.57, for a total transaction of $29,520.45. Following the completion of the transaction, the director now directly owns 93,669 shares of the company’s stock, valued at approximately $14,946,762.33. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Steven V. Abramson sold 31,182 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $222.02, for a total value of $6,923,027.64. Following the transaction, the chief executive officer now directly owns 146,493 shares of the company’s stock, valued at $32,524,375.86. The disclosure for this sale can be found here. Insiders sold a total of 105,685 shares of company stock valued at $22,465,629 over the last three months. Corporate insiders own 3.70% of the company’s stock.

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 flat panel displays and solid-state lighting applications. As of February 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.

Read More: What is a dividend reinvestment plan?

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

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