Columbus Circle Investors reduced its position in Universal Display Corporation (NASDAQ:OLED) by 23.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 679,968 shares of the semiconductor company’s stock after selling 204,240 shares during the period. Universal Display Corporation comprises 1.2% of Columbus Circle Investors’ holdings, making the stock its 25th largest position. Columbus Circle Investors owned 1.45% of Universal Display Corporation worth $74,287,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of OLED. Handelsbanken Fonder AB increased its position in shares of Universal Display Corporation by 93.4% in the first quarter. Handelsbanken Fonder AB now owns 59,553 shares of the semiconductor company’s stock worth $5,128,000 after buying an additional 28,753 shares during the period. HPM Partners LLC purchased a new position in shares of Universal Display Corporation during the first quarter worth about $263,000. Henderson Group PLC increased its position in shares of Universal Display Corporation by 80.3% in the first quarter. Henderson Group PLC now owns 335,130 shares of the semiconductor company’s stock worth $28,846,000 after buying an additional 149,241 shares during the period. Genesee Valley Trust Co. purchased a new position in shares of Universal Display Corporation during the first quarter worth about $288,000. Finally, Eqis Capital Management Inc. increased its position in shares of Universal Display Corporation by 0.4% in the first quarter. Eqis Capital Management Inc. now owns 4,408 shares of the semiconductor company’s stock worth $380,000 after buying an additional 18 shares during the period. Hedge funds and other institutional investors own 67.49% of the company’s stock.
Universal Display Corporation (NASDAQ:OLED) opened at 109.80 on Monday. Universal Display Corporation has a 52-week low of $47.88 and a 52-week high of $130.65. The company’s 50 day moving average is $116.47 and its 200-day moving average is $99.45. The firm has a market cap of $5.16 billion, a P/E ratio of 63.65 and a beta of 1.05.
Universal Display Corporation (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.31. The company had revenue of $102.50 million for the quarter, compared to the consensus estimate of $84.81 million. Universal Display Corporation had a return on equity of 14.90% and a net margin of 31.15%. Universal Display Corporation’s quarterly revenue was up 59.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 EPS. On average, equities analysts predict that Universal Display Corporation will post $2.14 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 30th. Shareholders of record on Friday, September 15th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.11%. The ex-dividend date is Thursday, September 14th. Universal Display Corporation’s dividend payout ratio (DPR) is presently 6.94%.
A number of research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Universal Display Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 9th. Summit Redstone restated a “hold” rating and issued a $95.00 price target on shares of Universal Display Corporation in a research report on Tuesday, August 1st. Cowen and Company restated an “outperform” rating and issued a $130.00 price target on shares of Universal Display Corporation in a research report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Universal Display Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Finally, Susquehanna Bancshares Inc restated a “positive” rating and issued a $150.00 price target (up previously from $120.00) on shares of Universal Display Corporation in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $118.00.
In other news, CEO Steven V. Abramson sold 18,000 shares of the stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $124.53, for a total transaction of $2,241,540.00. Following the transaction, the chief executive officer now owns 262,888 shares of the company’s stock, valued at approximately $32,737,442.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Leonard Becker sold 3,750 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $114.24, for a total value of $428,400.00. Following the transaction, the director now directly owns 13,750 shares in the company, valued at approximately $1,570,800. The disclosure for this sale can be found here. Insiders sold a total of 31,750 shares of company stock worth $3,919,940 in the last ninety days. 5.70% of the stock is currently owned by corporate 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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