Brooklyn Investment Group Makes New Investment in Universal Display Co. (NASDAQ:OLED)

Brooklyn Investment Group acquired a new stake in Universal Display Co. (NASDAQ:OLED) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 143 shares of the semiconductor company’s stock, valued at approximately $30,000.

A number of other hedge funds have also made changes to their positions in OLED. Price T Rowe Associates Inc. MD increased its position in shares of Universal Display by 2.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,867 shares of the semiconductor company’s stock valued at $3,852,000 after purchasing an additional 616 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Universal Display during the first quarter worth about $620,000. Tidal Investments LLC raised its position in Universal Display by 172.0% in the first quarter. Tidal Investments LLC now owns 6,246 shares of the semiconductor company’s stock worth $1,052,000 after acquiring an additional 3,950 shares in the last quarter. Swedbank AB acquired a new stake in Universal Display in the 1st quarter valued at about $1,995,000. Finally, GAMMA Investing LLC boosted its position in shares of Universal Display by 42.4% during the 2nd quarter. GAMMA Investing LLC now owns 514 shares of the semiconductor company’s stock valued at $108,000 after purchasing an additional 153 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Stock Performance

NASDAQ OLED opened at $164.52 on Friday. The firm’s 50 day moving average price is $190.97 and its two-hundred day moving average price is $195.15. Universal Display Co. has a twelve month low of $148.75 and a twelve month high of $237.00. The stock has a market cap of $7.81 billion, a price-to-earnings ratio of 33.04, a PEG ratio of 1.73 and a beta of 1.43.

Universal Display (NASDAQ:OLED) last announced 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 return on equity of 15.75% and a net margin of 36.98%. The firm had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. During the same period in the prior year, the business earned $1.08 EPS. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, research analysts forecast that Universal Display Co. will post 4.8 EPS for the current fiscal year.

Universal Display Announces Dividend

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

Insiders Place Their Bets

In related news, Director Lawrence Lacerte purchased 742 shares of the stock in a transaction dated 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 acquisition, 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

OLED has been the topic of a number of research reports. Needham & Company LLC dropped their target price on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. TD Cowen dropped their price target on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Oppenheimer reduced their price objective on Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $215.63.

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.