State Street Corp Raises Position in Universal Display Corporation (OLED)

State Street Corp boosted its stake in Universal Display Corporation (NASDAQ:OLED) by 3.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 788,727 shares of the semiconductor company’s stock after buying an additional 23,770 shares during the period. State Street Corp’s holdings in Universal Display Corporation were worth $67,909,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OLED. Dubuque Bank & Trust Co. purchased a new position in shares of Universal Display Corporation during the first quarter valued at about $125,000. Invictus RG purchased a new position in shares of Universal Display Corporation during the first quarter valued at about $152,000. Foundry Partners LLC purchased a new position in shares of Universal Display Corporation during the first quarter valued at about $208,000. Toronto Dominion Bank boosted its position in shares of Universal Display Corporation by 63.3% in the first quarter. Toronto Dominion Bank now owns 2,450 shares of the semiconductor company’s stock valued at $212,000 after buying an additional 950 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of Universal Display Corporation by 1.8% in the first quarter. Parallel Advisors LLC now owns 2,716 shares of the semiconductor company’s stock valued at $246,000 after buying an additional 47 shares during the period. 70.39% of the stock is owned by institutional investors and hedge funds.

Shares of Universal Display Corporation (OLED) opened at 123.25 on Wednesday. The company has a market capitalization of $5.80 billion, a price-to-earnings ratio of 102.79 and a beta of 1.03. Universal Display Corporation has a 12 month low of $47.88 and a 12 month high of $130.65. The company’s 50-day moving average is $116.52 and its 200 day moving average is $90.78.

Universal Display Corporation (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, May 4th. The semiconductor company reported $0.22 EPS for the quarter. Universal Display Corporation had a net margin of 25.13% and a return on equity of 10.85%. The firm had revenue of $55.60 million during the quarter, compared to analyst estimates of $33.53 million. During the same period last year, the firm posted $0.04 EPS. Universal Display Corporation’s revenue was up 87.2% on a year-over-year basis. On average, equities research analysts anticipate that Universal Display Corporation will post $1.84 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend was Tuesday, June 13th. Universal Display Corporation’s dividend payout ratio is presently 10.00%.

OLED has been the subject of a number of research analyst reports. Cowen and Company reduced their price target on shares of Universal Display Corporation from $105.00 to $90.00 and set an “outperform” rating for the company in a research note on Wednesday, May 3rd. Zacks Investment Research upgraded shares of Universal Display Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, May 6th. Susquehanna Bancshares Inc lifted their price target on shares of Universal Display Corporation from $105.00 to $120.00 and gave the stock a “positive” rating in a research note on Monday, May 15th. BidaskClub lowered shares of Universal Display Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Gabelli reiterated a “buy” rating on shares of Universal Display Corporation in a research note on Monday, May 8th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $106.00.

In other Universal Display Corporation news, Director C Keith Hartley sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $114.87, for a total transaction of $1,148,700.00. Following the completion of the transaction, the director now directly owns 70,549 shares of the company’s stock, valued at approximately $8,103,963.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leonard Becker sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $114.24, for a total transaction of $428,400.00. Following the transaction, the director now directly owns 13,750 shares of the company’s stock, valued at $1,570,800. The disclosure for this sale can be found here. Insiders have sold a total of 77,278 shares of company stock valued at $8,783,289 over the last three months. 5.70% of the stock is currently owned by insiders.

Universal Display Corporation Company Profile

Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in display and solid-state lighting applications. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.

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