BTR Capital Management Inc. continued to hold its position in Universal Display Corporation (NASDAQ:OLED) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,550 shares of the semiconductor company’s stock at the end of the second quarter. BTR Capital Management Inc.’s holdings in Universal Display Corporation were worth $934,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in Universal Display Corporation by 33.4% in the first quarter. Bank of America Corp DE now owns 72,951 shares of the semiconductor company’s stock worth $6,281,000 after buying an additional 18,272 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Universal Display Corporation during the first quarter worth approximately $792,000. Russell Investments Group Ltd. boosted its stake in Universal Display Corporation by 292.4% in the first quarter. Russell Investments Group Ltd. now owns 66,412 shares of the semiconductor company’s stock worth $5,717,000 after buying an additional 49,488 shares in the last quarter. Strs Ohio boosted its stake in Universal Display Corporation by 115.4% in the first quarter. Strs Ohio now owns 5,600 shares of the semiconductor company’s stock worth $482,000 after buying an additional 3,000 shares in the last quarter. Finally, Westpac Banking Corp purchased a new stake in Universal Display Corporation during the first quarter worth approximately $885,000. 69.40% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Universal Display Corporation (NASDAQ OLED) traded up 0.30% during midday trading on Tuesday, reaching $118.05. 563,734 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $117.40 and a 200 day moving average price of $95.75. The firm has a market cap of $5.55 billion, a PE ratio of 98.46 and a beta of 1.05. Universal Display Corporation has a 12 month low of $47.88 and a 12 month high of $130.65.
Universal Display Corporation (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.99 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $84.81 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The company’s revenue for the quarter was up 59.2% on a year-over-year basis. Equities research analysts predict that Universal Display Corporation will post $2.08 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, September 30th. Stockholders of record on Friday, September 15th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.10%. The ex-dividend date is Thursday, September 14th. Universal Display Corporation’s dividend payout ratio (DPR) is presently 6.94%.
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A number of analysts recently commented on OLED shares. Cowen and Company set a $140.00 price objective on shares of Universal Display Corporation and gave the company a “buy” rating in a research report on Friday. Goldman Sachs Group, Inc. (The) increased their target price on Universal Display Corporation from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, May 8th. Cross Research upgraded Universal Display Corporation from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a report on Friday, May 5th. BidaskClub upgraded Universal Display Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, June 9th. Finally, Benchmark Co. began coverage on Universal Display Corporation in a report on Tuesday, April 25th. They issued a “hold” rating for the company. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Universal Display Corporation has a consensus rating of “Hold” and a consensus price target of $110.88.
In other news, insider Julia J. Brown sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $125.00, for a total value of $1,250,000.00. Following the transaction, the insider now owns 162,932 shares of the company’s stock, valued at $20,366,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Leonard Becker sold 3,750 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $114.24, for a total transaction of $428,400.00. Following the completion of the transaction, the director now directly owns 13,750 shares in the company, valued at approximately $1,570,800. The disclosure for this sale can be found here. Insiders sold 41,750 shares of company stock worth $5,068,640 in the last three months. 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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