California State Teachers Retirement System cut its holdings in Universal Display Co. (NASDAQ:OLED) by 9.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,011 shares of the semiconductor company’s stock after selling 7,149 shares during the period. California State Teachers Retirement System owned approximately 0.14% of Universal Display worth $8,634,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of OLED. Mitra Capital LLC purchased a new position in shares of Universal Display during the second quarter valued at about $109,000. BNP Paribas Arbitrage SA grew its holdings in Universal Display by 79.4% in the second quarter. BNP Paribas Arbitrage SA now owns 1,536 shares of the semiconductor company’s stock worth $168,000 after purchasing an additional 680 shares during the period. CIBC Asset Management Inc purchased a new stake in Universal Display in the third quarter worth about $205,000. Ballentine Partners LLC purchased a new stake in Universal Display in the third quarter worth about $209,000. Finally, Jarislowsky Fraser Ltd purchased a new stake in Universal Display in the third quarter worth about $212,000. 64.87% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have weighed in on OLED. Zacks Investment Research cut shares of Universal Display from a “buy” rating to a “hold” rating in a report on Tuesday. Susquehanna Bancshares upped their price objective on shares of Universal Display from $195.00 to $215.00 and gave the stock a “positive” rating in a report on Friday, January 5th. Goldman Sachs Group reiterated a “buy” rating and set a $161.00 price target (up previously from $150.00) on shares of Universal Display in a report on Monday, September 18th. Cowen set a $140.00 price target on shares of Universal Display and gave the company a “buy” rating in a report on Wednesday, October 11th. Finally, Deutsche Bank increased their price target on shares of Universal Display to $150.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $161.50.
In other news, CFO Sidney D. Rosenblatt sold 50,240 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $167.80, for a total transaction of $8,430,272.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Rosemarie B. Greco sold 1,250 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $168.63, for a total transaction of $210,787.50. Following the sale, the director now owns 12,800 shares in the company, valued at $2,158,464. The disclosure for this sale can be found here. Insiders sold 146,734 shares of company stock worth $23,349,769 over the last quarter. Insiders own 5.20% of the company’s stock.
Universal Display Co. (NASDAQ OLED) opened at $197.80 on Friday. The firm has a market cap of $9,300.00, a P/E ratio of 94.64 and a beta of 1.07. Universal Display Co. has a 52-week low of $56.15 and a 52-week high of $198.30.
Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.19. Universal Display had a net margin of 32.92% and a return on equity of 16.67%. The business had revenue of $61.70 million for the quarter, compared to the consensus estimate of $47.35 million. During the same period last year, the firm earned ($0.03) earnings per share. The company’s quarterly revenue was up 104.3% on a year-over-year basis. equities analysts forecast that Universal Display Co. will post 2.33 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were given a $0.03 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.12 annualized dividend and a yield of 0.06%. Universal Display’s payout ratio is presently 5.74%.
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About Universal Display
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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