Parsons Capital Management Inc. RI Sells 575 Shares of Universal Display Co. (NASDAQ:OLED)

Parsons Capital Management Inc. RI decreased its position in shares of Universal Display Co. (NASDAQ:OLED) by 11.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,264 shares of the semiconductor company’s stock after selling 575 shares during the period. Parsons Capital Management Inc. RI’s holdings in Universal Display were worth $623,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in OLED. Pacer Advisors Inc. grew its holdings in Universal Display by 37.2% during the 4th quarter. Pacer Advisors Inc. now owns 27,246 shares of the semiconductor company’s stock valued at $3,983,000 after buying an additional 7,390 shares in the last quarter. KBC Group NV boosted its position in shares of Universal Display by 79.4% during the 4th quarter. KBC Group NV now owns 1,903 shares of the semiconductor company’s stock valued at $278,000 after acquiring an additional 842 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Universal Display by 401.9% in the fourth quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 209 shares in the last quarter. PFG Investments LLC increased its position in Universal Display by 9.1% in the fourth quarter. PFG Investments LLC now owns 14,588 shares of the semiconductor company’s stock worth $2,133,000 after purchasing an additional 1,218 shares during the last quarter. Finally, First Citizens Bank & Trust Co. raised its stake in Universal Display by 17.7% during the fourth quarter. First Citizens Bank & Trust Co. now owns 1,494 shares of the semiconductor company’s stock valued at $218,000 after purchasing an additional 225 shares in the last quarter. 78.19% of the stock is owned by institutional investors.

Universal Display Price Performance

Universal Display stock opened at $145.19 on Wednesday. Universal Display Co. has a 1-year low of $142.50 and a 1-year high of $237.00. The company’s 50-day moving average is $154.43 and its 200 day moving average is $182.26. The firm has a market capitalization of $6.89 billion, a P/E ratio of 29.15, a price-to-earnings-growth ratio of 1.62 and a beta of 1.40.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.21. The firm had revenue of $161.63 million during the quarter, compared to analyst estimates of $165.28 million. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. Universal Display’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period last year, the company earned $1.08 EPS. Research analysts anticipate that Universal Display Co. will post 4.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on OLED. TD Cowen dropped their price objective 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. Oppenheimer dropped their price target on Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, January 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $215.00 price objective on shares of Universal Display in a research report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $212.50.

Insiders Place Their Bets

In related news, Director Lawrence Lacerte bought 742 shares of the company’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 purchase, the director now directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.90% 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 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.