Thrive Wealth Management LLC holds $361,000 position in Universal Display Co. (NASDAQ:OLED)

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Thrive Wealth Management LLC acquired a new stake in Universal Display Co. (NASDAQ:OLED – Free Report) in the third quarter, Holdings Channel reports. The firm purchased 1,719 shares of the semiconductor company’s stock, valued at approximately $361,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. ORG Partners LLC purchased a new stake in Universal Display in the 1st quarter worth about $27,000. Tsfg LLC acquired a new stake in Universal Display in the 1st quarter worth approximately $34,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Universal Display in the fourth quarter valued at about $35,000. Geneos Wealth Management Inc. grew its holdings in Universal Display by 210.7% in the first quarter. Geneos Wealth Management Inc. now owns 233 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 158 shares during the period. Finally, Itau Unibanco Holding SA acquired a new stake in Universal Display in the 2nd quarter worth about $44,000. 78.19% of shares are currently owned by institutional investors and hedge funds.

Universal display trading up 1.7%

NASDAQ OLED traded up $3.59 during trading hours on Friday, reaching $211.71. The company’s stock had a trading volume of 417,202 shares, compared to its average volume of 361,696. Universal Display Co. has a 52-week low of $133.67 and a 52-week high of $237.00. The company has a market cap of $10.05 billion, a PE ratio of 46.02, a price-to-earnings-growth ratio of 2.22 and a beta of 1.42. The company’s 50-day SMA is $195.45, and its 200-day SMA is $188.23.

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Universal Display (NASDAQ:OLED – Get Your Free Report ) last announced its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.04). Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The business had revenue of $158.50 million during the quarter, compared to the consensus estimate of $159.46 million. During the same period in the previous year, the business posted EPS of $1.04. Universal Display’s revenue was up 8.1% compared to the same quarter last year. Research analysts anticipate that Universal Display Co. will post 4.81 EPS for the current fiscal year.

Universal Display announces dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents an annualized dividend of $1.60 and a dividend yield of 0.76%. Universal Display’s dividend payout ratio is currently 34.78%.

Analysts set new price targets

A number of analysts have weighed in on the company. Oppenheimer upped their target price on Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, July 3rd. TD Cowen boosted their price target on Universal Display from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Goldman Sachs Group boosted their price target on Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Susquehanna boosted their price target on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Roth Mkm boosted their price target on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Universal Display presently has an average rating of “Moderate Buy” and an average price target of $225.88, based on data from MarketBeat.

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About Universal Display

(Free report)

Universal Display Corporation is engaged in the research, development, and commercialization of organic light-emitting diode (OLED) technologies and materials for use in solid-state display and lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.