37,900 Shares in Universal Display Co. (OLED) Acquired by Point72 Asset Management L.P.

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Point72 Asset Management L.P. acquired a new stake in shares of Universal Display Co. (NASDAQ:OLED) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 37,900 shares of the semiconductor company’s stock, valued at approximately $3,259,000. Point72 Asset Management L.P. owned about 0.08% of Universal Display at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Essex Investment Management Co. LLC bought a new position in shares of Universal Display during the second quarter valued at about $319,000. Intl Fcstone Inc. bought a new position in shares of Universal Display during the second quarter valued at about $309,000. PNC Financial Services Group Inc. lifted its position in shares of Universal Display by 13.9% during the second quarter. PNC Financial Services Group Inc. now owns 4,432 shares of the semiconductor company’s stock valued at $381,000 after purchasing an additional 542 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Universal Display by 5.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 219,322 shares of the semiconductor company’s stock valued at $18,862,000 after purchasing an additional 12,179 shares in the last quarter. Finally, Amalgamated Bank lifted its position in shares of Universal Display by 11.8% during the second quarter. Amalgamated Bank now owns 9,945 shares of the semiconductor company’s stock valued at $855,000 after purchasing an additional 1,052 shares in the last quarter. Hedge funds and other institutional investors own 72.63% of the company’s stock.

A number of research analysts recently weighed in on OLED shares. Needham & Company LLC raised their price target on shares of Universal Display from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, August 10th. BidaskClub raised shares of Universal Display from a “hold” rating to a “buy” rating in a research report on Thursday, August 30th. ValuEngine lowered shares of Universal Display from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Citigroup started coverage on shares of Universal Display in a research report on Tuesday, September 4th. They issued a “buy” rating and a $153.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Universal Display from a “sell” rating to a “hold” rating in a research report on Saturday, August 11th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $167.58.

OLED stock traded up $3.06 during mid-day trading on Friday, hitting $112.41. The company had a trading volume of 596,985 shares, compared to its average volume of 1,313,913. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 46.26 and a beta of 1.81. Universal Display Co. has a 12 month low of $78.75 and a 12 month high of $209.00.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, August 9th. The semiconductor company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.08. The firm had revenue of $56.15 million during the quarter, compared to the consensus estimate of $49.64 million. Universal Display had a net margin of 22.76% and a return on equity of 11.59%. The company’s revenue was down 45.2% on a year-over-year basis. During the same quarter last year, the company earned $0.99 earnings per share. As a group, analysts expect that Universal Display Co. will post 1.83 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Saturday, September 15th were paid a $0.06 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $0.24 annualized dividend and a dividend yield of 0.21%. Universal Display’s payout ratio is 9.88%.

In other news, Director Lawrence Lacerte sold 15,000 shares of Universal Display stock in a transaction dated 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 in the company, valued at $41,703,014.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mauro Premutico sold 10,044 shares of Universal Display stock in a transaction dated 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 owned by company insiders.

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.

Featured Story: Compound Annual Growth Rate (CAGR)

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

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