Legal & General Group Plc increased its position in shares of Universal Display Co. (NASDAQ:OLED) by 21.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,197 shares of the semiconductor company’s stock after acquiring an additional 3,213 shares during the period. Legal & General Group Plc’s holdings in Universal Display were worth $2,345,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of the business. Mitra Capital LLC bought a new position in Universal Display during the second quarter worth $109,000. BNP Paribas Arbitrage SA grew its holdings in Universal Display by 79.4% in the second quarter. BNP Paribas Arbitrage SA now owns 1,536 shares of the semiconductor company’s stock worth $168,000 after purchasing an additional 680 shares during the period. CIBC Asset Management Inc acquired a new stake in Universal Display in the third quarter worth $205,000. Comerica Bank acquired a new stake in Universal Display in the third quarter worth $221,000. Finally, Ballentine Partners LLC acquired a new stake in Universal Display in the third quarter worth $209,000. Hedge funds and other institutional investors own 64.87% of the company’s stock.
A number of equities research analysts have commented on OLED shares. Goldman Sachs Group restated a “buy” rating and set a $161.00 price target (up from $150.00) on shares of Universal Display in a report on Monday, September 18th. Cowen set a $140.00 price target on shares of Universal Display and gave the stock a “buy” rating in a report on Wednesday, October 11th. Zacks Investment Research lowered shares of Universal Display from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Deutsche Bank lifted their price objective on shares of Universal Display to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Finally, Cross Research lowered shares of Universal Display from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $161.50.
Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.19. Universal Display had a net margin of 32.92% and a return on equity of 16.67%. The business had revenue of $61.70 million during the quarter, compared to analyst estimates of $47.35 million. During the same period in the prior year, the business earned ($0.03) EPS. The company’s revenue for the quarter was up 104.3% on a year-over-year basis. analysts predict that Universal Display Co. will post 2.33 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.06%. The ex-dividend date was Thursday, December 14th. Universal Display’s payout ratio is presently 5.74%.
In other Universal Display news, insider Steven V. Abramson sold 18,744 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $158.40, for a total transaction of $2,969,049.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Julia J. Brown sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the sale, the insider now owns 152,932 shares in the company, valued at approximately $22,939,800. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 146,734 shares of company stock worth $23,349,769. Insiders own 5.20% of the company’s stock.
Universal Display 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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