HighTower Advisors LLC raised its position in Universal Display Corporation (NASDAQ:OLED) by 25.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,599 shares of the semiconductor company’s stock after buying an additional 3,554 shares during the period. HighTower Advisors LLC’s holdings in Universal Display Corporation were worth $1,519,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of OLED. Oppenheimer Asset Management Inc. acquired a new stake in shares of Universal Display Corporation during the first quarter worth $792,000. Strs Ohio increased its stake in shares of Universal Display Corporation by 115.4% in the first quarter. Strs Ohio now owns 5,600 shares of the semiconductor company’s stock worth $482,000 after buying an additional 3,000 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Universal Display Corporation by 292.4% in the first quarter. Russell Investments Group Ltd. now owns 66,412 shares of the semiconductor company’s stock worth $5,717,000 after buying an additional 49,488 shares during the last quarter. Westpac Banking Corp bought a new position in Universal Display Corporation during the first quarter worth about $885,000. Finally, Bank of America Corp DE boosted its position in Universal Display Corporation by 33.4% in the first quarter. Bank of America Corp DE now owns 72,951 shares of the semiconductor company’s stock worth $6,281,000 after buying an additional 18,272 shares during the period. Hedge funds and other institutional investors own 69.83% of the company’s stock.
Universal Display Corporation (NASDAQ OLED) traded up 0.62% during trading on Friday, hitting $121.30. 457,818 shares of the company’s stock traded hands. The stock has a market cap of $5.70 billion, a P/E ratio of 101.17 and a beta of 1.03. The company’s 50 day moving average is $117.34 and its 200-day moving average is $93.81. Universal Display Corporation has a 12 month low of $47.88 and a 12 month high of $130.65.
Universal Display Corporation (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, May 4th. The semiconductor company reported $0.22 EPS for the quarter. The company had revenue of $55.60 million during the quarter, compared to analyst estimates of $33.53 million. Universal Display Corporation had a net margin of 25.13% and a return on equity of 10.85%. The firm’s revenue was up 87.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 EPS. On average, analysts predict that Universal Display Corporation will post $1.84 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend was Tuesday, June 13th. Universal Display Corporation’s payout ratio is presently 10.00%.
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A number of equities analysts have recently issued reports on the stock. BidaskClub raised shares of Universal Display Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 9th. Zacks Investment Research cut shares of Universal Display Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Susquehanna Bancshares Inc reissued a “positive” rating on shares of Universal Display Corporation in a research report on Thursday, July 13th. Needham & Company LLC reissued a “hold” rating on shares of Universal Display Corporation in a research report on Monday, May 8th. Finally, Gabelli reaffirmed a “buy” rating on shares of Universal Display Corporation in a research report on Monday, May 8th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $106.00.
In related news, Director C Keith Hartley sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $114.87, for a total value of $1,148,700.00. Following the completion of the sale, the director now owns 70,549 shares of the company’s stock, valued at approximately $8,103,963.63. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Sidney D. Rosenblatt sold 16,924 shares of the business’s stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 378,870 shares of the company’s stock, valued at approximately $42,744,113.40. The disclosure for this sale can be found here. In the last three months, insiders sold 105,278 shares of company stock valued at $12,274,829. 5.70% of the stock is owned by insiders.
About Universal Display Corporation
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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