USA Financial Portformulas Corp acquired a new stake in Universal Display Corporation (NASDAQ:OLED) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,156 shares of the semiconductor company’s stock, valued at approximately $345,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alps Advisors Inc. lifted its stake in shares of Universal Display Corporation by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 5,776 shares of the semiconductor company’s stock valued at $631,000 after purchasing an additional 15 shares in the last quarter. Atlantic Trust LLC lifted its position in Universal Display Corporation by 0.7% during the 1st quarter. Atlantic Trust LLC now owns 3,735 shares of the semiconductor company’s stock worth $322,000 after acquiring an additional 25 shares in the last quarter. Stifel Financial Corp lifted its position in Universal Display Corporation by 2.6% during the 2nd quarter. Stifel Financial Corp now owns 3,362 shares of the semiconductor company’s stock worth $370,000 after acquiring an additional 86 shares in the last quarter. Prudential Financial Inc. lifted its position in Universal Display Corporation by 2.9% during the 1st quarter. Prudential Financial Inc. now owns 4,616 shares of the semiconductor company’s stock worth $397,000 after acquiring an additional 130 shares in the last quarter. Finally, Advisor Group Inc. lifted its position in Universal Display Corporation by 5.3% during the 2nd quarter. Advisor Group Inc. now owns 2,649 shares of the semiconductor company’s stock worth $286,000 after acquiring an additional 134 shares in the last quarter. 64.09% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Sidney D. Rosenblatt sold 50,240 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $135.02, for a total transaction of $6,783,404.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 5.20% of the company’s stock.
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Universal Display Corporation (NASDAQ OLED) traded down 0.33% during trading on Friday, reaching $135.50. The company had a trading volume of 125,557 shares. The company has a market capitalization of $6.37 billion, a P/E ratio of 78.55 and a beta of 1.04. The stock has a 50 day moving average of $131.31 and a 200-day moving average of $114.98. Universal Display Corporation has a 12 month low of $49.20 and a 12 month high of $145.30.
Universal Display Corporation (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.99 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.31. The business had revenue of $102.50 million for the quarter, compared to analyst estimates of $84.81 million. Universal Display Corporation had a return on equity of 14.90% and a net margin of 31.15%. The firm’s revenue for the quarter was up 59.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.46 EPS. Equities research analysts expect that Universal Display Corporation will post $2.14 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 30th. Stockholders of record on Friday, September 15th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Thursday, September 14th. Universal Display Corporation’s dividend payout ratio is 6.94%.
Several research firms recently commented on OLED. Zacks Investment Research lowered Universal Display Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Cowen and Company set a $140.00 price target on Universal Display Corporation and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $161.00 price target (up from $150.00) on shares of Universal Display Corporation in a research report on Monday, September 18th. Susquehanna Bancshares Inc reissued a “positive” rating and set a $150.00 price target on shares of Universal Display Corporation in a research report on Tuesday, September 5th. Finally, Deutsche Bank AG began coverage on Universal Display Corporation in a research report on Wednesday, August 30th. They set a “buy” rating and a $135.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Universal Display Corporation currently has a consensus rating of “Buy” and a consensus price target of $121.11.
Universal Display Corporation 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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