Dynamic Technology Lab Private Ltd bought a new stake in Universal Display Corporation (NASDAQ:OLED) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,212 shares of the semiconductor company’s stock, valued at approximately $788,000.
Other large investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake in shares of 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 valued at $6,281,000 after buying an additional 18,272 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Universal Display Corporation during the first quarter worth $792,000. BKS Advisors LLC bought a new position in Universal Display Corporation during the second quarter worth $2,318,000. Westwood Management Corp IL boosted its position in Universal Display Corporation by 70.0% during the second quarter. Westwood Management Corp IL now owns 17,000 shares of the semiconductor company’s stock worth $1,857,000 after purchasing an additional 7,000 shares during the period. Finally, Balyasny Asset Management LLC bought a new position in Universal Display Corporation during the second quarter worth $3,673,000. 64.56% of the stock is owned by institutional investors and hedge funds.
Universal Display Corporation (NASDAQ:OLED) traded up 0.45% during mid-day trading on Friday, hitting $134.15. The stock had a trading volume of 275,275 shares. Universal Display Corporation has a 52 week low of $49.20 and a 52 week high of $145.30. The firm has a market cap of $6.31 billion, a PE ratio of 77.77 and a beta of 1.04. The company’s 50 day moving average price is $131.92 and its 200 day moving average price is $116.63.
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, topping the consensus estimate of $0.68 by $0.31. Universal Display Corporation had a return on equity of 14.90% and a net margin of 31.15%. The firm had revenue of $102.50 million for the quarter, compared to the consensus estimate of $84.81 million. During the same period in the prior year, the business posted $0.46 earnings per share. The company’s revenue for the quarter was up 59.2% on a year-over-year basis. Analysts anticipate that Universal Display Corporation will post $2.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, September 30th. Shareholders of record on Friday, September 15th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.12 annualized dividend and a yield of 0.09%. Universal Display Corporation’s payout ratio is currently 6.94%.
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A number of equities research analysts have recently issued reports on the stock. Susquehanna Bancshares Inc reissued a “positive” rating and issued a $150.00 target price (up previously from $120.00) on shares of Universal Display Corporation in a research report on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $150.00 target price (up previously from $140.00) on shares of Universal Display Corporation in a research report on Wednesday, August 9th. BidaskClub raised shares of Universal Display Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Deutsche Bank AG assumed coverage on Universal Display Corporation in a research note on Wednesday, August 30th. They issued a “buy” rating and a $135.00 price target for the company. Finally, Zacks Investment Research raised Universal Display Corporation from a “hold” rating to a “strong-buy” rating and set a $136.00 price target for the company in a research note on Thursday, August 10th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Universal Display Corporation has a consensus rating of “Buy” and an average price target of $121.11.
In other Universal Display Corporation news, CFO Sidney D. Rosenblatt sold 50,240 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $135.02, for a total transaction of $6,783,404.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.20% 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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