Belpointe Asset Management LLC lifted its position in Universal Display Co. (NASDAQ:OLED) by 29.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,096 shares of the semiconductor company’s stock after purchasing an additional 929 shares during the quarter. Belpointe Asset Management LLC’s holdings in Universal Display were worth $707,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of OLED. First Trust Advisors LP raised its stake in shares of Universal Display by 96.9% in the fourth quarter. First Trust Advisors LP now owns 335,440 shares of the semiconductor company’s stock valued at $57,914,000 after purchasing an additional 165,082 shares in the last quarter. Columbus Circle Investors raised its stake in shares of Universal Display by 24.1% in the third quarter. Columbus Circle Investors now owns 843,537 shares of the semiconductor company’s stock valued at $108,690,000 after purchasing an additional 163,569 shares in the last quarter. Honeycomb Asset Management LP acquired a new position in shares of Universal Display in the fourth quarter valued at $24,171,000. UBS Asset Management Americas Inc. raised its stake in shares of Universal Display by 48.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 396,713 shares of the semiconductor company’s stock valued at $68,492,000 after purchasing an additional 128,667 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its stake in shares of Universal Display by 17.8% in the third quarter. Neuberger Berman Group LLC now owns 714,223 shares of the semiconductor company’s stock valued at $92,028,000 after purchasing an additional 107,751 shares in the last quarter. Institutional investors and hedge funds own 63.24% of the company’s stock.
In other news, Director Richard C. Elias sold 2,250 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $129.60, for a total value of $291,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Sherwin I. Seligsohn sold 50,000 shares of the firm’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $200.00, for a total value of $10,000,000.00. Following the completion of the sale, the chairman now owns 143,119 shares of the company’s stock, valued at $28,623,800. The disclosure for this sale can be found here. Company insiders own 5.20% of the company’s stock.
A number of research analysts recently commented on the company. Evercore ISI assumed coverage on Universal Display in a research note on Thursday, November 30th. They issued an “outperform” rating and a $225.00 target price for the company. BidaskClub lowered Universal Display from a “sell” rating to a “strong sell” rating in a research note on Thursday. Deutsche Bank dropped their price objective on Universal Display from $190.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Zacks Investment Research upgraded Universal Display from a “hold” rating to a “buy” rating and set a $195.00 price objective for the company in a research note on Thursday, January 4th. Finally, Susquehanna Bancshares increased their price objective on Universal Display from $195.00 to $215.00 and gave the stock a “positive” rating in a research note on Friday, January 5th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $167.09.
Universal Display Co. (NASDAQ:OLED) opened at $123.55 on Friday. Universal Display Co. has a 12 month low of $79.55 and a 12 month high of $209.00. The stock has a market capitalization of $5,810.00, a price-to-earnings ratio of 50.22 and a beta of 1.08.
Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.11. Universal Display had a return on equity of 18.80% and a net margin of 30.95%. The firm had revenue of $115.87 million during the quarter, compared to analyst estimates of $99.55 million. During the same period in the prior year, the company posted $0.55 earnings per share. The business’s revenue for the quarter was up 55.3% compared to the same quarter last year. equities research analysts expect that Universal Display Co. will post 2.66 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 15th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This is a positive change from Universal Display’s previous quarterly dividend of $0.03. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.19%. Universal Display’s dividend payout ratio (DPR) is 9.76%.
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Universal Display Company Profile
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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