PNC Financial Services Group Inc. Raises Stake in Universal Display Co. (OLED)

PNC Financial Services Group Inc. lifted its position in shares of Universal Display Co. (NASDAQ:OLED) by 13.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,432 shares of the semiconductor company’s stock after purchasing an additional 542 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Universal Display were worth $381,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the company. Schwab Charles Investment Management Inc. grew its position in shares of Universal Display by 11.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 207,143 shares of the semiconductor company’s stock valued at $20,922,000 after purchasing an additional 21,453 shares in the last quarter. US Bancorp DE grew its position in shares of Universal Display by 125.0% during the 1st quarter. US Bancorp DE now owns 1,640 shares of the semiconductor company’s stock valued at $165,000 after purchasing an additional 911 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Universal Display during the 1st quarter valued at $287,000. Northern Trust Corp grew its position in shares of Universal Display by 0.9% during the 1st quarter. Northern Trust Corp now owns 221,389 shares of the semiconductor company’s stock valued at $22,361,000 after purchasing an additional 2,056 shares in the last quarter. Finally, BlackRock Inc. grew its position in shares of Universal Display by 17.6% during the 1st quarter. BlackRock Inc. now owns 1,985,898 shares of the semiconductor company’s stock valued at $200,576,000 after purchasing an additional 297,565 shares in the last quarter. Institutional investors and hedge funds own 72.56% of the company’s stock.

Shares of NASDAQ:OLED opened at $121.75 on Wednesday. Universal Display Co. has a 52-week low of $78.75 and a 52-week high of $209.00. The firm has a market capitalization of $5.72 billion, a P/E ratio of 50.10 and a beta of 1.73.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, August 9th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.08. Universal Display had a net margin of 22.76% and a return on equity of 11.59%. The company had revenue of $56.15 million during the quarter, compared to analyst estimates of $49.64 million. During the same period in the previous year, the business earned $0.99 earnings per share. The firm’s quarterly revenue was down 45.2% compared to the same quarter last year. analysts predict that Universal Display Co. will post 1.83 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Saturday, September 15th will be given a $0.06 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.24 annualized dividend and a yield of 0.20%. Universal Display’s dividend payout ratio (DPR) is presently 9.88%.

OLED has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a research report on Tuesday, May 29th. CIBC reiterated an “outperform” rating and issued a $140.00 target price (up from $120.00) on shares of Universal Display in a research report on Tuesday. BidaskClub upgraded shares of Universal Display from a “hold” rating to a “buy” rating in a research report on Thursday, August 30th. Needham & Company LLC upped their target price on shares of Universal Display from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Finally, Goldman Sachs Group set a $150.00 target price on shares of Universal Display and gave the stock a “buy” rating in a research report on Tuesday, May 29th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $171.75.

In other Universal Display news, Director Lawrence Lacerte sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $119.51, for a total value of $1,792,650.00. Following the completion of the sale, the director now directly owns 348,950 shares of the company’s stock, valued at $41,703,014.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mauro Premutico sold 10,044 shares of the business’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $123.63, for a total transaction of $1,241,739.72. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by insiders.

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 flat panel displays and solid-state lighting applications. As of February 22, 2018, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 4,500 issued and pending patents worldwide.

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

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