Pacer Advisors Inc. purchased a new stake in shares of Universal Display Co. (NASDAQ:OLED) during the first quarter, Holdings Channel reports. The firm purchased 4,592 shares of the semiconductor company’s stock, valued at approximately $395,000.
Other institutional investors have also recently made changes to their positions in the company. Sigma Planning Corp raised its position in shares of Universal Display by 14.2% in the third quarter. Sigma Planning Corp now owns 20,111 shares of the semiconductor company’s stock valued at $1,116,000 after buying an additional 2,497 shares in the last quarter. Northern Trust Corp raised its position in shares of Universal Display by 4.5% in the third quarter. Northern Trust Corp now owns 590,458 shares of the semiconductor company’s stock valued at $32,776,000 after buying an additional 25,556 shares in the last quarter. NF Trinity Capital Hong Kong Ltd purchased a new position in shares of Universal Display during the third quarter valued at approximately $10,380,000. Muhlenkamp & Co. Inc. raised its position in shares of Universal Display by 0.6% in the third quarter. Muhlenkamp & Co. Inc. now owns 75,360 shares of the semiconductor company’s stock valued at $4,183,000 after buying an additional 430 shares in the last quarter. Finally, Polar Capital LLP raised its position in shares of Universal Display by 10.7% in the third quarter. Polar Capital LLP now owns 344,097 shares of the semiconductor company’s stock valued at $19,100,000 after buying an additional 33,325 shares in the last quarter. Hedge funds and other institutional investors own 67.82% of the company’s stock.
Universal Display Co. (NASDAQ OLED) traded up 1.25% during trading on Friday, reaching $117.10. The company’s stock had a trading volume of 698,271 shares. The stock has a 50 day moving average price of $103.28 and a 200 day moving average price of $77.13. The stock has a market capitalization of $5.51 billion, a PE ratio of 97.66 and a beta of 1.27. Universal Display Co. has a 1-year low of $47.88 and a 1-year high of $118.20.
Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, May 4th. The semiconductor company reported $0.22 earnings per share for the quarter. Universal Display had a return on equity of 8.37% and a net margin of 21.61%. The company had revenue of $55.60 million for the quarter, compared to the consensus estimate of $33.53 million. During the same quarter in the prior year, the business earned $0.04 EPS. Universal Display’s revenue was up 87.2% on a year-over-year basis. Analysts anticipate that Universal Display Co. will post $1.83 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.12 annualized dividend and a yield of 0.10%.
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Several equities analysts have recently commented on OLED shares. Susquehanna Bancshares Inc started coverage on Universal Display in a research note on Wednesday, February 15th. They set a “positive” rating and a $100.00 price target on the stock. Cowen and Company restated an “outperform” rating and set a $75.00 price target on shares of Universal Display in a research note on Thursday, February 16th. Needham & Company LLC restated a “hold” rating on shares of Universal Display in a research note on Wednesday, February 22nd. Canaccord Genuity raised their price target on Universal Display from $49.00 to $65.00 and gave the company a “hold” rating in a research note on Friday, February 24th. Finally, Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Universal Display in a research note on Friday, February 24th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $101.38.
In other Universal Display news, CFO Sidney D. Rosenblatt sold 16,924 shares of the company’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $112.82, for a total transaction of $1,909,365.68. Following the sale, the chief financial officer now owns 378,870 shares in the company, valued at approximately $42,744,113.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director C Keith Hartley sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $114.87, for a total value of $1,148,700.00. Following the sale, the director now owns 70,549 shares in the company, valued at approximately $8,103,963.63. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,278 shares of company stock worth $9,194,289. 5.70% of the stock is owned by company insiders.
About Universal Display
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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