State Street Corp boosted its position in shares of Universal Display Corporation (NASDAQ:OLED) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 788,727 shares of the semiconductor company’s stock after buying an additional 23,770 shares during the period. State Street Corp owned 1.68% of Universal Display Corporation worth $67,909,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE increased its stake in shares of Universal Display Corporation by 33.4% in the first quarter. Bank of America Corp DE now owns 72,951 shares of the semiconductor company’s stock valued at $6,281,000 after buying an additional 18,272 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of Universal Display Corporation during the first quarter valued at approximately $792,000. Schwab Charles Investment Management Inc. increased its stake in shares of Universal Display Corporation by 11.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 184,200 shares of the semiconductor company’s stock valued at $15,860,000 after buying an additional 18,844 shares during the period. Invictus RG acquired a new position in shares of Universal Display Corporation during the first quarter valued at $152,000. Finally, KCG Holdings Inc. boosted its position in shares of Universal Display Corporation by 305.0% in the first quarter. KCG Holdings Inc. now owns 16,688 shares of the semiconductor company’s stock valued at $1,437,000 after buying an additional 12,567 shares in the last quarter. Institutional investors and hedge funds own 69.83% of the company’s stock.
Shares of Universal Display Corporation (NASDAQ:OLED) opened at 121.30 on Friday. The firm’s 50-day moving average price is $117.34 and its 200 day moving average price is $93.81. Universal Display Corporation has a one year low of $47.88 and a one year high of $130.65. The firm has a market cap of $5.70 billion, a P/E ratio of 101.17 and a beta of 1.03.
Universal Display Corporation (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, May 4th. The semiconductor company reported $0.22 earnings per share for the quarter. The company had revenue of $55.60 million during the quarter, compared to the consensus estimate of $33.53 million. Universal Display Corporation had a return on equity of 10.85% and a net margin of 25.13%. The firm’s quarterly revenue was up 87.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.04 EPS. Analysts predict that Universal Display Corporation will post $1.84 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 15th were paid a dividend of $0.03 per share. The ex-dividend date was Tuesday, June 13th. This represents a $0.12 annualized dividend and a dividend yield of 0.10%. Universal Display Corporation’s payout ratio is 10.00%.
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OLED has been the subject of several research reports. Cowen and Company decreased 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. Goldman Sachs Group, Inc. (The) raised their price target on shares of Universal Display Corporation from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, May 8th. Zacks Investment Research raised shares of Universal Display Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, May 6th. Canaccord Genuity raised their price target on shares of Universal Display Corporation from $65.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, May 8th. Finally, Susquehanna Bancshares Inc reissued a “positive” rating and issued a $105.00 target price on shares of Universal Display Corporation in a research note on Thursday, April 6th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $106.00.
In related news, Director Leonard Becker sold 3,750 shares of the stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $114.24, for a total transaction of $428,400.00. Following the sale, the director now owns 13,750 shares of the company’s stock, valued at approximately $1,570,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Julia J. Brown sold 10,000 shares of the stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $125.00, for a total value of $1,250,000.00. Following the sale, the insider now directly owns 162,932 shares in the company, valued at approximately $20,366,500. The disclosure for this sale can be found here. Insiders have sold a total of 105,278 shares of company stock valued at $12,274,829 in the last quarter. 5.70% of the stock is owned by corporate 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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