Boston Common Asset Management LLC lessened its holdings in Universal Display Co. (NASDAQ:OLED) by 9.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,451 shares of the semiconductor company’s stock after selling 1,785 shares during the quarter. Boston Common Asset Management LLC’s holdings in Universal Display were worth $2,057,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of OLED. Zweig DiMenna Associates LLC raised its position in shares of Universal Display by 125.0% in the 3rd quarter. Zweig DiMenna Associates LLC now owns 66,873 shares of the semiconductor company’s stock valued at $7,884,000 after acquiring an additional 37,158 shares during the period. Essex Investment Management Co. LLC acquired a new stake in shares of Universal Display in the 2nd quarter valued at approximately $319,000. PNC Financial Services Group Inc. raised its position in shares of Universal Display by 13.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,432 shares of the semiconductor company’s stock valued at $381,000 after acquiring an additional 542 shares during the period. Intl Fcstone Inc. acquired a new stake in shares of Universal Display in the 2nd quarter valued at approximately $309,000. Finally, grace capital acquired a new stake in shares of Universal Display in the 2nd quarter valued at approximately $430,000. 73.77% of the stock is currently owned by institutional investors.
Shares of OLED stock opened at $103.06 on Monday. The company has a market cap of $4.85 billion, a price-to-earnings ratio of 42.41 and a beta of 1.64. Universal Display Co. has a 52 week low of $78.75 and a 52 week high of $209.00.
Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, November 1st. The semiconductor company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.18). The company had revenue of $77.55 million for the quarter, compared to analyst estimates of $92.21 million. Universal Display had a return on equity of 12.90% and a net margin of 24.70%. The business’s quarterly revenue was up 25.7% on a year-over-year basis. During the same quarter last year, the business posted $0.28 earnings per share. Equities analysts anticipate that Universal Display Co. will post 1.83 earnings per share for the current fiscal year.
In other Universal Display news, Director Lawrence Lacerte sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $119.51, for a total transaction of $1,792,650.00. Following the sale, the director now directly owns 348,950 shares in the company, valued at approximately $41,703,014.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mauro Premutico sold 10,044 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $123.63, for a total transaction of $1,241,739.72. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.
A number of analysts recently weighed in on OLED shares. Goldman Sachs Group set a $139.00 price target on shares of Universal Display and gave the company a “buy” rating in a research report on Friday. Cowen set a $175.00 price target on shares of Universal Display and gave the company an “outperform” rating in a research report on Thursday, October 4th. Oppenheimer increased their price target on shares of Universal Display from $120.00 to $140.00 and gave the company an “outperform” rating in a research report on Tuesday, September 25th. Citigroup started coverage on shares of Universal Display in a research report on Tuesday, September 4th. They issued a “buy” rating and a $153.00 price target on the stock. Finally, BidaskClub upgraded shares of Universal Display from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $167.82.
Universal Display Profile
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.
Further Reading: Cash Flow
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