Legacy Wealth Asset Management LLC Sells 99 Shares of Universal Display Co. (NASDAQ:OLED)

Legacy Wealth Asset Management LLC cut its position in shares of Universal Display Co. (NASDAQ:OLED) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,851 shares of the semiconductor company’s stock after selling 99 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Universal Display were worth $417,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of OLED. American Century Companies Inc. increased its stake in shares of Universal Display by 3.9% during the second quarter. American Century Companies Inc. now owns 11,365 shares of the semiconductor company’s stock valued at $2,389,000 after purchasing an additional 426 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Universal Display by 27.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company’s stock worth $98,725,000 after buying an additional 100,809 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Universal Display by 55.3% in the 2nd quarter. Renaissance Technologies LLC now owns 40,439 shares of the semiconductor company’s stock worth $8,502,000 after buying an additional 14,400 shares during the last quarter. Edgestream Partners L.P. bought a new position in Universal Display during the 2nd quarter valued at approximately $1,554,000. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new position in Universal Display during the second quarter valued at $231,000. 78.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Universal Display news, Director Lawrence Lacerte purchased 742 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were 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 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $215.00 target price on shares of Universal Display in a research note on Thursday. Oppenheimer cut their price objective on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, January 2nd. Finally, 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 report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Universal Display presently has an average rating of “Moderate Buy” and a consensus target price of $207.86.

Universal Display Stock Performance

OLED opened at $149.24 on Friday. The company’s 50-day simple moving average is $157.11 and its two-hundred day simple moving average is $186.25. The stock has a market capitalization of $7.08 billion, a P/E ratio of 29.97, a P/E/G ratio of 1.62 and a beta of 1.40. Universal Display Co. has a 52-week low of $143.25 and a 52-week high of $237.00.

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, topping the consensus estimate of $1.19 by $0.21. The company had revenue of $161.63 million for the quarter, compared to analysts’ expectations of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter last year, the company posted $1.08 earnings per share. Research analysts forecast that Universal Display Co. will post 4.77 EPS for the current fiscal year.

Universal Display Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Tuesday, December 17th. Universal Display’s dividend payout ratio is 32.13%.

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 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.