BlackRock Inc. boosted its position in shares of Universal Display Corporation (NASDAQ:OLED) by 82,293.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,817,024 shares of the semiconductor company’s stock after buying an additional 2,813,605 shares during the period. BlackRock Inc. owned about 6.00% of Universal Display Corporation worth $242,545,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Universal Display Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 3,403,157 shares of the semiconductor company’s stock worth $293,012,000 after buying an additional 141,268 shares in the last quarter. Columbus Circle Investors increased its position in shares of Universal Display Corporation by 41.5% in the first quarter. Columbus Circle Investors now owns 884,208 shares of the semiconductor company’s stock worth $76,130,000 after buying an additional 259,267 shares in the last quarter. State Street Corp increased its position in shares of Universal Display Corporation by 0.7% in the fourth quarter. State Street Corp now owns 764,957 shares of the semiconductor company’s stock worth $43,071,000 after buying an additional 5,049 shares in the last quarter. Norges Bank acquired a new position in shares of Universal Display Corporation during the fourth quarter valued at $36,968,000. Finally, TimesSquare Capital Management LLC acquired a new position in shares of Universal Display Corporation during the first quarter valued at $34,440,000. 69.40% of the stock is owned by institutional investors and hedge funds.
Shares of Universal Display Corporation (OLED) traded up 0.30% during trading on Tuesday, hitting $118.05. The stock had a trading volume of 562,479 shares. The stock’s 50-day moving average is $117.40 and its 200-day moving average is $95.75. Universal Display Corporation has a 12-month low of $47.88 and a 12-month high of $130.65. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 98.46 and a beta of 1.05.
Universal Display Corporation (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.31. Universal Display Corporation had a net margin of 31.15% and a return on equity of 14.90%. The business had revenue of $102.50 million during the quarter, compared to the consensus estimate of $84.81 million. During the same quarter in the prior year, the firm earned $0.46 EPS. The company’s revenue for the quarter was up 59.2% compared to the same quarter last year. On average, equities research analysts expect that Universal Display Corporation will post $2.08 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 30th. Investors of record on Friday, September 15th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date is Thursday, September 14th. Universal Display Corporation’s dividend payout ratio is presently 6.94%.
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Several research analysts recently weighed in on the company. Cowen and Company set a $140.00 target price on Universal Display Corporation and gave the stock a “buy” rating in a research note on Friday. Summit Redstone restated a “hold” rating and set a $95.00 target price on shares of Universal Display Corporation in a research note on Tuesday, August 1st. Zacks Investment Research downgraded Universal Display Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Susquehanna Bancshares Inc restated a “positive” rating on shares of Universal Display Corporation in a research note on Thursday, July 13th. Finally, BidaskClub downgraded Universal Display Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $110.88.
In other Universal Display Corporation news, Director Leonard Becker sold 3,750 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $114.24, for a total value of $428,400.00. Following the completion of the transaction, the director now owns 13,750 shares in the company, valued at approximately $1,570,800. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Steven V. Abramson sold 18,000 shares of the company’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $124.53, for a total transaction of $2,241,540.00. Following the completion of the transaction, the chief executive officer now owns 262,888 shares of the company’s stock, valued at approximately $32,737,442.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,750 shares of company stock valued at $5,068,640. Insiders own 5.70% of the company’s stock.
About Universal Display Corporation
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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