Nicholas Investment Partners LP bought a new position in Universal Display Corporation (NASDAQ:OLED) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 15,332 shares of the semiconductor company’s stock, valued at approximately $1,976,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Montreal Can increased its stake in shares of Universal Display by 214.7% in the second quarter. Bank of Montreal Can now owns 6,010 shares of the semiconductor company’s stock valued at $656,000 after buying an additional 4,100 shares during the period. Aperio Group LLC increased its stake in shares of Universal Display by 19.0% in the second quarter. Aperio Group LLC now owns 9,685 shares of the semiconductor company’s stock valued at $1,058,000 after buying an additional 1,545 shares during the period. Public Employees Retirement Association of Colorado increased its stake in shares of Universal Display by 14.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 10,156 shares of the semiconductor company’s stock valued at $1,110,000 after buying an additional 1,308 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Universal Display by 19.5% in the second quarter. Janney Montgomery Scott LLC now owns 2,967 shares of the semiconductor company’s stock valued at $324,000 after buying an additional 485 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Universal Display in the second quarter valued at about $197,000. 65.03% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on the company. Evercore ISI assumed coverage on Universal Display in a research note on Thursday, November 30th. They issued an “outperform” rating and a $225.00 price target for the company. Zacks Investment Research raised Universal Display from a “hold” rating to a “buy” rating and set a $198.00 price target for the company in a research note on Wednesday, November 15th. Cowen restated an “outperform” rating and set a $195.00 target price (up previously from $155.00) on shares of Universal Display in a research report on Friday, November 10th. BidaskClub lowered Universal Display from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Needham & Company LLC restated a “hold” rating on shares of Universal Display in a research report on Friday, November 3rd. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Universal Display has a consensus rating of “Hold” and a consensus price target of $151.30.
Shares of Universal Display Corporation (OLED) opened at $164.05 on Thursday. Universal Display Corporation has a 52-week low of $55.20 and a 52-week high of $192.75. The company has a market capitalization of $7,808.74, a PE ratio of 81.37 and a beta of 1.06.
Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.09 by $0.19. Universal Display had a return on equity of 16.67% and a net margin of 32.92%. The company had revenue of $61.70 million for the quarter, compared to analyst estimates of $47.35 million. During the same quarter in the prior year, the company earned ($0.03) EPS. The firm’s revenue for the quarter was up 104.3% compared to the same quarter last year. equities analysts forecast that Universal Display Corporation will post 2.33 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.07%. Universal Display’s payout ratio is 5.88%.
In other Universal Display news, CFO Sidney D. Rosenblatt sold 50,240 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $135.02, for a total value of $6,783,404.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Julia J. Brown sold 10,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. Following the completion of the transaction, 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 quarter, insiders sold 196,974 shares of company stock worth $30,133,174. Corporate insiders own 5.20% of the company’s stock.
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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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