Metropolitan Life Insurance Co NY lowered its position in shares of Universal Display Co. (NASDAQ:OLED) by 2.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,948 shares of the semiconductor company’s stock after selling 304 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Universal Display were worth $2,342,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Allied Advisory Services Inc. increased its position in Universal Display by 3.8% during the 2nd quarter. First Allied Advisory Services Inc. now owns 1,494 shares of the semiconductor company’s stock worth $281,000 after buying an additional 54 shares during the period. Rothschild Investment Corp IL grew its stake in shares of Universal Display by 3.4% in the third quarter. Rothschild Investment Corp IL now owns 2,300 shares of the semiconductor company’s stock valued at $386,000 after acquiring an additional 75 shares in the last quarter. Capital Investment Advisory Services LLC grew its stake in shares of Universal Display by 94.0% in the second quarter. Capital Investment Advisory Services LLC now owns 194 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 94 shares in the last quarter. A.R.T. Advisors LLC grew its stake in shares of Universal Display by 0.9% in the second quarter. A.R.T. Advisors LLC now owns 11,694 shares of the semiconductor company’s stock valued at $2,199,000 after acquiring an additional 100 shares in the last quarter. Finally, Institutional & Family Asset Management LLC increased its position in Universal Display by 79.4% during the second quarter. Institutional & Family Asset Management LLC now owns 226 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 100 shares during the period. Institutional investors own 66.11% of the company’s stock.
Shares of Universal Display stock opened at $193.33 on Tuesday. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 155.91, a PEG ratio of 2.08 and a beta of 1.52. Universal Display Co. has a 12-month low of $78.78 and a 12-month high of $230.32. The firm’s 50-day moving average price is $189.53 and its two-hundred day moving average price is $187.67.
Universal Display (NASDAQ:OLED) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.57 by $0.21. Universal Display had a net margin of 35.10% and a return on equity of 17.81%. The firm had revenue of $97.50 million for the quarter, compared to analyst estimates of $85.88 million. During the same period last year, the firm earned $0.48 EPS. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. On average, research analysts forecast that Universal Display Co. will post 3.11 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.40 annualized dividend and a dividend yield of 0.21%. Universal Display’s dividend payout ratio is 32.26%.
In other Universal Display news, insider Julia J. Brown sold 24,905 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $199.85, for a total value of $4,977,264.25. Following the sale, the insider now owns 99,455 shares of the company’s stock, valued at approximately $19,876,081.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Steven V. Abramson sold 31,182 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $222.02, for a total value of $6,923,027.64. Following the completion of the sale, the chief executive officer now directly owns 146,493 shares in the company, valued at approximately $32,524,375.86. The disclosure for this sale can be found here. Insiders sold 68,872 shares of company stock worth $13,193,088 over the last three months. 3.70% of the stock is currently owned by insiders.
OLED has been the subject of a number of recent research reports. BidaskClub downgraded shares of Universal Display from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Benchmark set a $175.00 target price on shares of Universal Display and gave the stock a “buy” rating in a report on Tuesday, September 17th. ValuEngine downgraded shares of Universal Display from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Susquehanna Bancshares reiterated a “negative” rating on shares of Universal Display in a research note on Thursday, September 12th. Finally, Zacks Investment Research raised Universal Display from a “hold” rating to a “strong-buy” rating and set a $212.00 price target on the stock in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $196.23.
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 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.
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