State Street Corp increased its stake in Universal Display Co. (NASDAQ:OLED) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. 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 owned 1.68% of Universal Display worth $67,909,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new position in shares of Universal Display during the fourth quarter valued at about $957,000. Dimensional Fund Advisors LP boosted its position in shares of Universal Display by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 187,011 shares of the semiconductor company’s stock valued at $10,529,000 after buying an additional 2,713 shares during the last quarter. FMR LLC boosted its position in shares of Universal Display by 1.7% in the fourth quarter. FMR LLC now owns 110,681 shares of the semiconductor company’s stock valued at $6,231,000 after buying an additional 1,814 shares during the last quarter. Guggenheim Capital LLC boosted its position in shares of Universal Display by 16.7% in the fourth quarter. Guggenheim Capital LLC now owns 4,827 shares of the semiconductor company’s stock valued at $272,000 after buying an additional 690 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Universal Display during the fourth quarter valued at about $36,968,000. 69.76% of the stock is currently owned by institutional investors.
Universal Display Co. (NASDAQ OLED) traded down 1.30% during trading on Friday, reaching $117.55. 1,810,438 shares of the company’s stock were exchanged. The stock has a market capitalization of $5.53 billion, a PE ratio of 98.04 and a beta of 1.05. Universal Display Co. 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 $117.32 and a 200-day moving average of $95.25.
Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.31. The firm had revenue of $102.50 million for the quarter, compared to analyst estimates of $84.81 million. Universal Display had a return on equity of 32.27% and a net margin of 46.03%. Universal Display’s quarterly revenue was up 59.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 earnings per share. On average, equities research analysts anticipate that Universal Display Co. will post $1.82 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, September 30th. Shareholders of record on Friday, September 15th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.10%. Universal Display’s dividend payout ratio (DPR) is currently 6.94%.
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Several research analysts have issued reports on OLED shares. Cowen and Company set a $140.00 target price on shares of Universal Display and gave the stock a “buy” rating in a report on Friday. Goldman Sachs Group, Inc. (The) raised their price target on shares of Universal Display from $100.00 to $125.00 and gave the company a “buy” rating in a report on Monday, May 8th. Cross Research upgraded shares of Universal Display from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a report on Friday, May 5th. BidaskClub upgraded shares of Universal Display from a “buy” rating to a “strong-buy” rating in a report on Friday, June 9th. Finally, Benchmark Co. began coverage on shares of Universal Display in a report on Tuesday, April 25th. They issued a “hold” rating on the stock. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Universal Display has a consensus rating of “Hold” and an average target price of $110.88.
In other news, insider Julia J. Brown sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the insider now owns 162,932 shares in the company, valued at approximately $20,366,500. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Sidney D. Rosenblatt sold 16,924 shares of the company’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $112.82, for a total value of $1,909,365.68. Following the sale, the chief financial officer now owns 378,870 shares of the company’s stock, valued at approximately $42,744,113.40. The disclosure for this sale can be found here. Insiders sold 105,278 shares of company stock worth $12,274,829 in the last 90 days. Corporate insiders own 5.70% of the company’s stock.
Universal Display 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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