QCI Asset Management Inc. NY Acquires 4,449 Shares of Universal Display Corporation (OLED)

QCI Asset Management Inc. NY grew its holdings in Universal Display Corporation (NASDAQ:OLED) by 6.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 70,988 shares of the semiconductor company’s stock after buying an additional 4,449 shares during the quarter. QCI Asset Management Inc. NY owned 0.15% of Universal Display Corporation worth $9,147,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Bank of America Corp DE raised its stake in shares of Universal Display Corporation by 33.4% in the 1st quarter. Bank of America Corp DE now owns 72,951 shares of the semiconductor company’s stock valued at $6,281,000 after buying an additional 18,272 shares in the last quarter. BKS Advisors LLC acquired a new stake in shares of Universal Display Corporation during the 2nd quarter worth about $2,318,000. Westwood Management Corp IL increased its position in shares of Universal Display Corporation by 70.0% during the 2nd quarter. Westwood Management Corp IL now owns 17,000 shares of the semiconductor company’s stock worth $1,857,000 after purchasing an additional 7,000 shares in the last quarter. Balyasny Asset Management LLC acquired a new stake in shares of Universal Display Corporation during the 2nd quarter worth about $3,673,000. Finally, Neuberger Berman Group LLC increased its position in shares of Universal Display Corporation by 18.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 606,472 shares of the semiconductor company’s stock worth $66,257,000 after purchasing an additional 93,223 shares in the last quarter. Institutional investors own 64.20% of the company’s stock.

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In other news, Chairman Sherwin I. Seligsohn sold 50,000 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $150.00, for a total value of $7,500,000.00. Following the transaction, the chairman now owns 205,170 shares of the company’s stock, valued at approximately $30,775,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sidney D. Rosenblatt sold 50,240 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $135.02, for a total transaction of $6,783,404.80. The disclosure for this sale can be found here. Insiders sold a total of 196,974 shares of company stock valued at $30,133,174 in the last 90 days. Corporate insiders own 5.20% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. Cowen and Company reiterated an “outperform” rating and set a $195.00 target price (up previously from $155.00) on shares of Universal Display Corporation in a research report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Universal Display Corporation in a research report on Friday, November 3rd. Gabelli cut shares of Universal Display Corporation from a “buy” rating to a “hold” rating and set a $134.00 target price for the company. in a research report on Friday, November 3rd. Zacks Investment Research upgraded shares of Universal Display Corporation from a “hold” rating to a “strong-buy” rating and set a $168.00 target price for the company in a research report on Thursday, November 2nd. Finally, Cross Research cut shares of Universal Display Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $139.78.

Universal Display Corporation (NASDAQ OLED) traded up $6.30 on Monday, reaching $175.90. 1,195,100 shares of the company’s stock traded hands, compared to its average volume of 821,857. The firm has a market cap of $8,240.00, a PE ratio of 86.22 and a beta of 1.03. Universal Display Corporation has a 52-week low of $52.10 and a 52-week high of $176.50.

Universal Display Corporation (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.19. The firm had revenue of $61.70 million during the quarter, compared to analysts’ expectations of $47.35 million. Universal Display Corporation had a net margin of 32.92% and a return on equity of 16.67%. The company’s quarterly revenue was up 104.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.03) EPS. equities research analysts expect that Universal Display Corporation will post 2.33 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.07%. The ex-dividend date is Thursday, December 14th. Universal Display Corporation’s payout ratio is presently 5.74%.

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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Institutional Ownership by Quarter for Universal Display Corporation (NASDAQ:OLED)

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