Belpointe Asset Management LLC grew its holdings in Universal Display Co. (NASDAQ:OLED) by 29.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,096 shares of the semiconductor company’s stock after acquiring an additional 929 shares during the quarter. Belpointe Asset Management LLC’s holdings in Universal Display were worth $707,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Nationwide Fund Advisors raised its stake in shares of Universal Display by 1.8% in the third quarter. Nationwide Fund Advisors now owns 129,128 shares of the semiconductor company’s stock valued at $16,638,000 after purchasing an additional 2,256 shares in the last quarter. Aperio Group LLC raised its stake in shares of Universal Display by 7.2% in the third quarter. Aperio Group LLC now owns 10,380 shares of the semiconductor company’s stock valued at $1,337,000 after purchasing an additional 695 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Universal Display by 73.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 25,846 shares of the semiconductor company’s stock valued at $3,330,000 after purchasing an additional 10,952 shares in the last quarter. Stevens Capital Management LP raised its stake in shares of Universal Display by 73.0% in the third quarter. Stevens Capital Management LP now owns 4,093 shares of the semiconductor company’s stock valued at $527,000 after purchasing an additional 1,727 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Universal Display by 33.9% in the third quarter. Prudential Financial Inc. now owns 3,320 shares of the semiconductor company’s stock valued at $428,000 after purchasing an additional 840 shares in the last quarter. 63.09% of the stock is owned by institutional investors.
In other news, Director Elizabeth H. Gemmill sold 2,500 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $124.07, for a total value of $310,175.00. 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. Over the last 90 days, insiders sold 54,750 shares of company stock valued at $10,601,775. 5.20% of the stock is currently owned by corporate insiders.
OLED has been the subject of a number of recent research reports. Deutsche Bank upped their target price on Universal Display to $190.00 and gave the company a “buy” rating in a research note on Friday, December 8th. Zacks Investment Research upgraded Universal Display from a “hold” rating to a “buy” rating and set a $195.00 target price for the company in a research note on Thursday, January 4th. Susquehanna Bancshares upped their target price on Universal Display from $195.00 to $215.00 and gave the company a “positive” rating in a research note on Friday, January 5th. BidaskClub lowered Universal Display from a “hold” rating to a “sell” rating in a research note on Friday, January 26th. Finally, Needham & Company LLC upgraded Universal Display from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Tuesday, February 20th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $165.58.
Universal Display stock traded down $3.03 during mid-day trading on Friday, hitting $98.30. 1,114,012 shares of the company were exchanged, compared to its average volume of 1,466,271. Universal Display Co. has a 1-year low of $80.80 and a 1-year high of $209.00. The firm has a market capitalization of $4,767.40, a P/E ratio of 40.45 and a beta of 1.31.
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. sell-side analysts forecast that Universal Display Co. will post 2.66 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Thursday, March 15th were paid a dividend of $0.06 per share. This is a positive change from Universal Display’s previous quarterly dividend of $0.03. This represents a $0.24 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend was Wednesday, March 14th. Universal Display’s dividend payout ratio is currently 9.88%.
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About Universal Display
Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in flat panel displays and solid-state lighting applications. As of February 22, 2018, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 4,500 issued and pending patents worldwide.
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