Virginia Retirement Systems ET AL purchased a new position in shares of Universal Display Corporation (NASDAQ:OLED) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,700 shares of the semiconductor company’s stock, valued at approximately $606,000.
A number of other institutional investors and hedge funds have also bought and sold shares of OLED. Schroder Investment Management Group acquired a new position in Universal Display during the second quarter worth about $25,450,000. Newbrook Capital Advisors LP boosted its holdings in Universal Display by 49.4% in the 2nd quarter. Newbrook Capital Advisors LP now owns 558,174 shares of the semiconductor company’s stock valued at $60,981,000 after purchasing an additional 184,683 shares during the last quarter. Columbus Circle Investors boosted its holdings in Universal Display by 24.1% in the 3rd quarter. Columbus Circle Investors now owns 843,537 shares of the semiconductor company’s stock valued at $108,690,000 after purchasing an additional 163,569 shares during the last quarter. Scout Investments Inc. acquired a new position in Universal Display in the 3rd quarter valued at about $12,515,000. Finally, Neuberger Berman Group LLC boosted its holdings in Universal Display by 18.2% in the 2nd quarter. Neuberger Berman Group LLC now owns 606,472 shares of the semiconductor company’s stock valued at $66,257,000 after purchasing an additional 93,223 shares during the last quarter. Hedge funds and other institutional investors own 65.03% of the company’s stock.
In related news, CFO Sidney D. Rosenblatt sold 50,240 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $135.02, for a total transaction of $6,783,404.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven V. Abramson sold 18,744 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $158.40, for a total transaction of $2,969,049.60. The disclosure for this sale can be found here. Insiders sold a total of 196,974 shares of company stock worth $30,133,174 over the last three months. Insiders own 5.20% of the company’s stock.
Several equities analysts have weighed in on OLED shares. Zacks Investment Research upgraded shares of Universal Display from a “hold” rating to a “strong-buy” rating and set a $168.00 target price on the stock in a report on Thursday, November 2nd. Gabelli lowered shares of Universal Display from a “buy” rating to a “hold” rating and set a $134.00 target price on the stock. in a report on Friday, November 3rd. Cowen reiterated a “buy” rating and issued a $140.00 target price on shares of Universal Display in a report on Friday, September 8th. Deutsche Bank started coverage on shares of Universal Display in a report on Wednesday, August 30th. They issued a “buy” rating and a $135.00 target price on the stock. Finally, BidaskClub lowered shares of Universal Display from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $155.30.
Shares of Universal Display Corporation (NASDAQ:OLED) opened at $172.70 on Monday. The stock has a market cap of $8,123.98, a P/E ratio of 84.66 and a beta of 1.06. Universal Display Corporation has a 52 week low of $55.30 and a 52 week high of $192.75.
Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.19. The business had revenue of $61.70 million for the quarter, compared to the consensus estimate of $47.35 million. Universal Display had a net margin of 32.92% and a return on equity of 16.67%. The business’s revenue was up 104.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) EPS. analysts anticipate that Universal Display Corporation will post 2.33 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.07%. The ex-dividend date is Thursday, December 14th. Universal Display’s dividend payout ratio (DPR) is 5.88%.
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Universal Display 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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