Oppenheimer Asset Management Inc. grew its position in Universal Display Co. (NASDAQ:OLED) by 30.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,941 shares of the semiconductor company’s stock after acquiring an additional 2,316 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Universal Display were worth $855,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of OLED. PNC Financial Services Group Inc. raised its position in Universal Display by 13.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,432 shares of the semiconductor company’s stock worth $381,000 after purchasing an additional 542 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Universal Display by 18.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 220,075 shares of the semiconductor company’s stock worth $18,924,000 after purchasing an additional 33,588 shares during the last quarter. Brown Advisory Inc. raised its position in Universal Display by 47.9% in the 2nd quarter. Brown Advisory Inc. now owns 3,728 shares of the semiconductor company’s stock worth $321,000 after purchasing an additional 1,208 shares during the last quarter. Janus Henderson Group PLC raised its position in Universal Display by 31.5% in the 2nd quarter. Janus Henderson Group PLC now owns 449,170 shares of the semiconductor company’s stock worth $38,640,000 after purchasing an additional 107,605 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in Universal Display by 7.6% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 45,933 shares of the semiconductor company’s stock worth $3,950,000 after purchasing an additional 3,262 shares during the last quarter. Institutional investors own 72.98% of the company’s stock.
In other news, Director Lawrence Lacerte sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $119.51, for a total value of $1,792,650.00. Following the completion of the transaction, the director now owns 348,950 shares of the company’s stock, valued at approximately $41,703,014.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Mauro Premutico sold 10,044 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $123.63, for a total transaction of $1,241,739.72. The disclosure for this sale can be found here. 4.00% of the stock is owned by insiders.
OLED has been the subject of several research analyst reports. Goldman Sachs Group set a $150.00 price objective on shares of Universal Display and gave the stock a “buy” rating in a research report on Tuesday, May 29th. Roth Capital started coverage on shares of Universal Display in a report on Monday, May 21st. They set a “buy” rating and a $136.00 target price for the company. Needham & Company LLC lifted their target price on shares of Universal Display from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, August 10th. Citigroup started coverage on shares of Universal Display in a report on Tuesday. They set a “buy” rating and a $153.00 target price for the company. Finally, BidaskClub raised shares of Universal Display from a “hold” rating to a “buy” rating in a report on Thursday, August 30th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $172.82.
OLED opened at $122.65 on Friday. Universal Display Co. has a 52 week low of $78.75 and a 52 week high of $209.00. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 50.47 and a beta of 1.74.
Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, August 9th. The semiconductor company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.08. Universal Display had a net margin of 22.76% and a return on equity of 11.59%. The firm had revenue of $56.15 million during the quarter, compared to analyst estimates of $49.64 million. During the same quarter in the previous year, the business earned $0.99 EPS. The business’s quarterly revenue was down 45.2% compared to the same quarter last year. equities analysts forecast that Universal Display Co. will post 1.83 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Saturday, September 15th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.20%. The ex-dividend date is Thursday, September 13th. Universal Display’s dividend payout ratio (DPR) is 9.88%.
About Universal Display
Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in flat panel displays and solid-state lighting applications. As of February 22, 2018, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 4,500 issued and pending patents worldwide.
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