Universal Display Corporation (OLED) Position Raised by Bank of America Corp DE

Bank of America Corp DE increased its stake in shares of Universal Display Corporation (NASDAQ:OLED) by 33.4% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 72,951 shares of the semiconductor company’s stock after buying an additional 18,272 shares during the period. Bank of America Corp DE’s holdings in Universal Display Corporation were worth $6,281,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. acquired a new position in shares of Universal Display Corporation during the first quarter worth about $792,000. Strs Ohio boosted its position in shares of Universal Display Corporation by 115.4% in the first quarter. Strs Ohio now owns 5,600 shares of the semiconductor company’s stock worth $482,000 after buying an additional 3,000 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Universal Display Corporation by 292.4% in the first quarter. Russell Investments Group Ltd. now owns 66,412 shares of the semiconductor company’s stock worth $5,717,000 after buying an additional 49,488 shares during the last quarter. Westpac Banking Corp acquired a new position in shares of Universal Display Corporation during the first quarter worth about $885,000. Finally, Columbus Circle Investors boosted its position in shares of Universal Display Corporation by 41.5% in the first quarter. Columbus Circle Investors now owns 884,208 shares of the semiconductor company’s stock worth $76,130,000 after buying an additional 259,267 shares during the last quarter. Hedge funds and other institutional investors own 69.83% of the company’s stock.

Universal Display Corporation (OLED) opened at 121.30 on Friday. Universal Display Corporation has a 52-week low of $47.88 and a 52-week high of $130.65. The stock has a 50 day moving average of $117.34 and a 200-day moving average of $93.81. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 101.17 and a beta of 1.03.

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

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

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OLED has been the subject of a number of research reports. Cross Research upgraded shares of Universal Display Corporation from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research report on Friday, May 5th. Goldman Sachs Group, Inc. (The) lifted their target price on shares of Universal Display Corporation from $100.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, May 8th. Gabelli restated a “buy” rating on shares of Universal Display Corporation in a research report on Monday, May 8th. BidaskClub cut shares of Universal Display Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, Zacks Investment Research upgraded shares of Universal Display Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, May 6th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $106.00.

In related news, insider Julia J. Brown sold 10,000 shares of Universal Display Corporation 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 completion of the transaction, the insider now directly owns 162,932 shares of the company’s stock, valued at $20,366,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven V. Abramson sold 18,000 shares of Universal Display Corporation stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $113.30, for a total value of $2,039,400.00. Following the completion of the transaction, the insider now directly owns 278,480 shares of the company’s stock, valued at $31,551,784. The disclosure for this sale can be found here. Insiders sold 105,278 shares of company stock valued at $12,274,829 over the last ninety days. 5.70% of the stock is currently owned by company insiders.

About Universal Display Corporation

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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