Xponance Inc. lessened its position in Universal Display Co. (NASDAQ:OLED – Free Report) by 25.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,558 shares of the semiconductor company’s stock after selling 2,581 shares during the period. Xponance Inc.’s holdings in Universal Display were worth $1,089,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. raised its position in shares of Universal Display by 164.2% during the second quarter. Pacer Advisors Inc. now owns 9,129 shares of the semiconductor company’s stock worth $1,316,000 after purchasing an additional 5,674 shares during the period. Harbor Capital Advisors Inc. acquired a new position in Universal Display during the second quarter valued at $84,000. Maryland State Retirement & Pension System raised its position in Universal Display by 12.5% during the second quarter. Maryland State Retirement & Pension System now owns 3,692 shares of the semiconductor company’s stock valued at $532,000 after buying an additional 410 shares during the period. Red Spruce Capital LLC raised its position in Universal Display by 2.0% during the second quarter. Red Spruce Capital LLC now owns 9,886 shares of the semiconductor company’s stock valued at $1,425,000 after buying an additional 190 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Universal Display by 0.9% during the first quarter. Ameriprise Financial Inc. now owns 104,804 shares of the semiconductor company’s stock valued at $16,258,000 after buying an additional 923 shares during the period. Institutional investors own 75.92% of the company’s stock.
Insider Buying and Selling at Universal Display
In other Universal Display news, SVP Mauro Premutico sold 9,351 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $161.17, for a total value of $1,507,100.67. Following the completion of the transaction, the senior vice president now owns 33,220 shares of the company’s stock, valued at approximately $5,354,067.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Universal Display news, SVP Mauro Premutico sold 9,351 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $161.17, for a total value of $1,507,100.67. Following the completion of the transaction, the senior vice president now owns 33,220 shares of the company’s stock, valued at approximately $5,354,067.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard C. Elias sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $157.68, for a total value of $315,360.00. Following the completion of the transaction, the director now directly owns 5,767 shares of the company’s stock, valued at approximately $909,340.56. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
Universal Display Stock Performance
NASDAQ OLED opened at $154.73 on Thursday. Universal Display Co. has a twelve month low of $89.41 and a twelve month high of $166.57. The stock has a market capitalization of $7.33 billion, a PE ratio of 35.57, a P/E/G ratio of 2.66 and a beta of 1.29. The stock has a 50-day simple moving average of $154.01 and a 200 day simple moving average of $147.38.
Universal Display (NASDAQ:OLED – Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.29. Universal Display had a return on equity of 16.24% and a net margin of 34.31%. The business had revenue of $146.57 million during the quarter, compared to analysts’ expectations of $128.60 million. During the same quarter in the previous year, the firm earned $0.87 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts forecast that Universal Display Co. will post 3.96 EPS for the current fiscal year.
Universal Display Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.40 annualized dividend and a yield of 0.90%. Universal Display’s dividend payout ratio (DPR) is 32.18%.
Analysts Set New Price Targets
OLED has been the topic of several recent analyst reports. StockNews.com began coverage on Universal Display in a research report on Thursday, August 17th. They set a “hold” rating on the stock. TD Cowen boosted their target price on Universal Display from $150.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. Bank of America boosted their target price on Universal Display from $145.00 to $165.00 and gave the company a “neutral” rating in a research note on Friday, August 4th. Needham & Company LLC reiterated a “buy” rating and set a $175.00 price target on shares of Universal Display in a research note on Wednesday, September 13th. Finally, Citigroup upped their price target on Universal Display from $150.00 to $182.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $167.22.
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 display and solid-state lighting applications. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.