MetLife Investment Management LLC Buys 8,962 Shares of Universal Display Co. (NASDAQ:OLED)

MetLife Investment Management LLC lifted its stake in Universal Display Co. (NASDAQ:OLEDGet Rating) by 42.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,973 shares of the semiconductor company’s stock after purchasing an additional 8,962 shares during the period. MetLife Investment Management LLC owned about 0.06% of Universal Display worth $5,004,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its holdings in shares of Universal Display by 1.4% in the first quarter. PNC Financial Services Group Inc. now owns 7,054 shares of the semiconductor company’s stock worth $1,178,000 after purchasing an additional 99 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Universal Display by 29.0% in the first quarter. Citigroup Inc. now owns 144,561 shares of the semiconductor company’s stock worth $24,135,000 after purchasing an additional 32,509 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Universal Display by 2.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 7,260 shares of the semiconductor company’s stock worth $1,212,000 after purchasing an additional 190 shares during the last quarter. Legacy Wealth Asset Management LLC grew its holdings in shares of Universal Display by 26.4% in the first quarter. Legacy Wealth Asset Management LLC now owns 2,672 shares of the semiconductor company’s stock worth $446,000 after purchasing an additional 558 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in Universal Display by 2.0% in the first quarter. HighTower Advisors LLC now owns 9,647 shares of the semiconductor company’s stock worth $1,610,000 after acquiring an additional 189 shares during the period. 71.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Lawrence Lacerte sold 10,366 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $115.21, for a total value of $1,194,266.86. Following the transaction, the director now owns 190,366 shares in the company, valued at approximately $21,932,066.86. The sale was disclosed in a filing with the SEC, which is available through this link. 2.70% of the stock is owned by corporate insiders.

Universal Display Stock Down 2.1 %

Shares of Universal Display stock opened at $106.60 on Tuesday. The firm has a market capitalization of $5.03 billion, a P/E ratio of 27.69, a PEG ratio of 1.27 and a beta of 1.46. The company has a 50 day moving average price of $113.87 and a 200 day moving average price of $130.94. Universal Display Co. has a 52 week low of $98.71 and a 52 week high of $209.79.

Universal Display (NASDAQ:OLEDGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The semiconductor company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.10). The company had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $151.21 million. Universal Display had a net margin of 31.80% and a return on equity of 16.55%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 earnings per share. As a group, research analysts anticipate that Universal Display Co. will post 4.07 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Thursday, September 15th. Universal Display’s payout ratio is currently 31.17%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. DA Davidson lowered their price objective on shares of Universal Display from $165.00 to $140.00 in a research note on Tuesday, July 26th. The Goldman Sachs Group lowered their price objective on shares of Universal Display from $225.00 to $192.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Bank of America lowered shares of Universal Display from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $190.00 to $135.00 in a research note on Wednesday, June 29th. Cowen lowered their price objective on shares of Universal Display from $175.00 to $145.00 in a research note on Friday, August 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Universal Display from $180.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, August 1st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $168.30.

Universal Display Company Profile

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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. It owns, exclusively licenses, or has sole rights to sublicense approximately 5,500 issued and pending patents worldwide.

Further Reading

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Institutional Ownership by Quarter for Universal Display (NASDAQ:OLED)

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