Universal Display Corporation $OLED Shares Newly Bought by Alps Advisors Inc.

Key Points

• Alps Advisors bought 193,897 Universal Display shares in the third quarter, valued at about $14.9 million, representing roughly 0.42% of the company.
• Analyst views are mixed: the consensus rating is Hold, with an average price target of $114; three analysts rate the stock Buy, three Hold, and two Sell.
• Universal Display beat quarterly EPS expectations ($1.23 versus $1.13), while revenue came in slightly below estimates at $160.4 million; revenue rose 14.9% year over year. The company also announced a quarterly dividend of $0.50 per share.

Alps Advisors Inc. purchased a new position in Universal Display Corporation (NASDAQ:OLED - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 193,897 shares of the semiconductor company's stock, valued at approximately $14,938,000. Alps Advisors Inc. owned about 0.42% of Universal Display as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the stock. Heritage Family Offices LLP bought a new position in shares of Universal Display during the 3rd quarter valued at approximately $27,000. Commonwealth Equity Services LLC raised its holdings in shares of Universal Display by 48.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 12,355 shares of the semiconductor company's stock worth $952,000 after purchasing an additional 4,050 shares during the period. Chicago Partners Investment Group LLC bought a new stake in shares of Universal Display in the 3rd quarter worth approximately $733,000. Covestor Ltd lifted its stake in Universal Display by 55.0% in the third quarter. Covestor Ltd now owns 1,694 shares of the semiconductor company's stock valued at $131,000 after purchasing an additional 601 shares during the last quarter. Finally, American Assets Inc. purchased a new position in Universal Display in the third quarter valued at approximately $616,000. Institutional investors own 78.19% of the company's stock.

Analysts Set New Price Targets

OLED has been the subject of several research reports. Citigroup lowered Universal Display from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $85.00 to $71.00 in a report on Thursday, October 8th. Oppenheimer lowered their target price on Universal Display from $120.00 to $115.00 and set an "outperform" rating on the stock in a research note on Thursday, October 29th. Needham & Company LLC lowered their target price on Universal Display from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, July 31st. Zacks Research raised Universal Display from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 13th. Finally, Susquehanna increased their price target on Universal Display from $90.00 to $95.00 and gave the stock a "neutral" rating in a research note on Thursday, October 29th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $114.00.

Universal Display Trading Up 1.4%

Universal Display stock opened at $88.31 on Friday. The firm has a 50 day simple moving average of $81.00 and a 200 day simple moving average of $91.44. Universal Display Corporation has a 1-year low of $70.77 and a 1-year high of $134.60. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 17.91 and a beta of 1.51.

Universal Display (NASDAQ:OLED - Get Free Report) last posted its earnings results on Wednesday, October 28th. The semiconductor company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.10. Universal Display had a return on equity of 12.20% and a net margin of 36.74%. The firm had revenue of $160.43 million for the quarter, compared to the consensus estimate of $162.72 million. During the same quarter in the prior year, the business posted $0.92 earnings per share. The business's quarterly revenue was up 14.9% on a year-over-year basis. On average, equities research analysts forecast that Universal Display Corporation will post 4.43 EPS for the current year.

Universal Display Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 17th will be paid a $0.50 dividend. The ex-dividend date is Thursday, December 17th. This represents a $2.00 annualized dividend and a yield of 2.3%. Universal Display's dividend payout ratio (DPR) is currently 40.57%.

About Universal Display

Universal Display Corporation NASDAQ: OLED develops and commercializes technologies and materials used in organic light-emitting diode (OLED) displays and lighting. The company's portfolio includes phosphorescent OLED (PHOLED) materials, which are designed to improve display efficiency, along with OLED research, development and manufacturing technologies.

Universal Display supplies OLED emitter materials and related products to display manufacturers and licenses its intellectual property and technology.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.