Bank of America Corp DE Decreases Position in Universal Display Co. (OLED)

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Bank of America Corp DE cut its stake in shares of Universal Display Co. (NASDAQ:OLED) by 47.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,226 shares of the semiconductor company’s stock after selling 26,946 shares during the quarter. Bank of America Corp DE owned 0.06% of Universal Display worth $2,599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. First Republic Investment Management Inc. grew its holdings in shares of Universal Display by 243.3% during the 2nd quarter. First Republic Investment Management Inc. now owns 13,349 shares of the semiconductor company’s stock valued at $1,148,000 after purchasing an additional 9,460 shares during the last quarter. Epoch Investment Partners Inc. grew its holdings in shares of Universal Display by 2.3% during the 2nd quarter. Epoch Investment Partners Inc. now owns 3,518,398 shares of the semiconductor company’s stock valued at $302,583,000 after purchasing an additional 78,075 shares during the last quarter. Van ECK Associates Corp bought a new stake in shares of Universal Display during the 2nd quarter valued at approximately $10,610,000. Baird Financial Group Inc. grew its holdings in shares of Universal Display by 5.5% during the 2nd quarter. Baird Financial Group Inc. now owns 44,738 shares of the semiconductor company’s stock valued at $3,848,000 after purchasing an additional 2,321 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its holdings in Universal Display by 69.7% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 9,675 shares of the semiconductor company’s stock worth $832,000 after acquiring an additional 3,975 shares during the last quarter. 73.84% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on OLED shares. Needham & Company LLC boosted 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. BidaskClub raised shares of Universal Display from a “hold” rating to a “buy” rating in a report on Thursday, August 30th. ValuEngine lowered shares of Universal Display from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Zacks Investment Research lowered shares of Universal Display from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Finally, CIBC boosted their target price on shares of Universal Display from $120.00 to $140.00 and gave the stock an “outperform” rating in a report on Tuesday, September 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $167.82.

In other news, Director Lawrence Lacerte sold 15,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 348,950 shares in the company, valued at approximately $41,703,014.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mauro Premutico sold 10,044 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was 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 currently owned by insiders.

OLED opened at $98.00 on Wednesday. Universal Display Co. has a fifty-two week low of $78.75 and a fifty-two week high of $209.00. The company has a market cap of $4.85 billion, a price-to-earnings ratio of 40.33 and a beta of 1.64.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, November 1st. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.18). The firm had revenue of $77.55 million during the quarter, compared to analyst estimates of $92.21 million. Universal Display had a return on equity of 12.77% and a net margin of 24.70%. The firm’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 EPS. On average, equities analysts predict 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, December 28th. Stockholders of record on Friday, December 14th will be given a $0.06 dividend. The ex-dividend date is Thursday, December 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.24%. Universal Display’s dividend payout ratio (DPR) is currently 9.88%.

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Universal Display Company Profile

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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Institutional Ownership by Quarter for Universal Display (NASDAQ:OLED)

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