Truvestments Capital LLC Invests $72,000 in Universal Display Co. (NASDAQ:OLED)

Truvestments Capital LLC acquired a new position in shares of Universal Display Co. (NASDAQ:OLED) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 343 shares of the semiconductor company’s stock, valued at approximately $72,000.

A number of other large investors have also modified their holdings of OLED. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Universal Display during the second quarter worth $127,668,000. Citigroup Inc. grew its stake in shares of Universal Display by 1,387.6% during the third quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company’s stock worth $54,936,000 after purchasing an additional 244,129 shares in the last quarter. Raymond James & Associates grew its stake in shares of Universal Display by 629.9% during the third quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock worth $56,550,000 after purchasing an additional 232,503 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Universal Display by 66.6% during the first quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock worth $73,099,000 after purchasing an additional 173,496 shares in the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Universal Display during the second quarter worth $34,558,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Trading Down 4.5 %

Shares of Universal Display stock opened at $161.80 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 $7.68 billion, a PE ratio of 32.49, a price-to-earnings-growth ratio of 1.81 and a beta of 1.43. The company has a 50-day moving average of $194.63 and a two-hundred day moving average of $195.75.

Universal Display (NASDAQ:OLED) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $165.28 million. During the same period last year, the company posted $1.08 earnings per share. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, sell-side analysts forecast that Universal Display Co. will post 4.8 EPS for the current fiscal year.

Universal Display Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.99%. Universal Display’s dividend payout ratio (DPR) is 32.13%.

Insider Transactions at Universal Display

In other Universal Display news, Director Lawrence Lacerte acquired 742 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was acquired at an average cost of $180.89 per share, with a total value of $134,220.38. Following the purchase, the director now directly owns 122,372 shares in the company, valued at approximately $22,135,871.08. This trade represents a 0.61 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on OLED. Needham & Company LLC decreased 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. TD Cowen decreased 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 note on Thursday, October 31st. Susquehanna increased their target price on shares of Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Oppenheimer decreased 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 note on Thursday, October 31st. Finally, Roth Mkm increased their target price on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $215.63.

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.