Charles Schwab Investment Management Inc. Has $70.08 Million Position in Universal Display Co. (NASDAQ:OLED)

Charles Schwab Investment Management Inc. raised its position in Universal Display Co. (NASDAQ:OLED) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 333,872 shares of the semiconductor company’s stock after purchasing an additional 10,046 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.70% of Universal Display worth $70,080,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Universal Display during the 2nd quarter worth $127,668,000. Raymond James & Associates raised its holdings in Universal Display by 629.9% during the 3rd quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock worth $56,550,000 after buying an additional 232,503 shares during the period. CloudAlpha Capital Management Limited Hong Kong bought a new position in Universal Display in the second quarter valued at approximately $34,558,000. Strategic Financial Concepts LLC acquired a new position in shares of Universal Display in the second quarter valued at approximately $23,500,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Universal Display by 27.2% in the third quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company’s stock valued at $101,914,000 after buying an additional 108,394 shares during the period. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Universal Display news, Director Lawrence Lacerte purchased 742 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average price of $180.89 per share, for a total transaction of $134,220.38. Following the purchase, the director now owns 122,372 shares in the company, 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 link. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on OLED shares. Needham & Company LLC cut their price objective on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Susquehanna boosted their price target on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Oppenheimer decreased their price objective on Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Roth Mkm boosted their target price on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, TD Cowen decreased their price target 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Universal Display currently has an average rating of “Moderate Buy” and a consensus target price of $215.63.

Universal Display Trading Down 0.4 %

NASDAQ OLED opened at $161.17 on Friday. Universal Display Co. has a 12 month low of $148.75 and a 12 month high of $237.00. The stock has a 50 day moving average of $192.90 and a 200-day moving average of $195.44. The company has a market cap of $7.65 billion, a PE ratio of 32.36, a PEG ratio of 1.81 and a beta of 1.43.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.21. The firm had revenue of $161.63 million during 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 company’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.08 earnings per share. As a group, sell-side analysts predict 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. 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 0.99%. Universal Display’s dividend payout ratio is 32.13%.

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.