Cubist Systematic Strategies LLC raised its position in Universal Display Corporation (NASDAQ:OLED) by 1,817.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,195 shares of the semiconductor company’s stock after purchasing an additional 10,611 shares during the period. Cubist Systematic Strategies LLC’s holdings in Universal Display Corporation were worth $1,223,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Mitra Capital LLC purchased a new position in Universal Display Corporation in the 2nd quarter valued at about $109,000. IFP Advisors Inc lifted its holdings in Universal Display Corporation by 307.5% in the 2nd quarter. IFP Advisors Inc now owns 1,080 shares of the semiconductor company’s stock valued at $118,000 after purchasing an additional 815 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Universal Display Corporation by 79.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,536 shares of the semiconductor company’s stock valued at $168,000 after purchasing an additional 680 shares in the last quarter. FNY Partners Fund LP purchased a new position in Universal Display Corporation in the 1st quarter valued at about $146,000. Finally, Invictus RG purchased a new position in Universal Display Corporation in the 1st quarter valued at about $152,000. Institutional investors own 64.09% of the company’s stock.
In other Universal Display Corporation news, CEO Steven V. Abramson sold 18,000 shares of Universal Display Corporation stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $124.53, for a total transaction of $2,241,540.00. Following the transaction, the chief executive officer now owns 262,888 shares of the company’s stock, valued at approximately $32,737,442.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sidney D. Rosenblatt sold 50,240 shares of Universal Display Corporation stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $135.02, for a total value of $6,783,404.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,240 shares of company stock worth $10,274,945. Company insiders own 5.20% of the company’s stock.
A number of research firms have issued reports on OLED. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $150.00 target price (up from $140.00) on shares of Universal Display Corporation in a report on Wednesday, August 9th. Susquehanna Bancshares Inc restated a “positive” rating and issued a $150.00 target price (up from $120.00) on shares of Universal Display Corporation in a report on Wednesday, August 9th. Summit Redstone restated a “hold” rating and issued a $95.00 target price on shares of Universal Display Corporation in a report on Tuesday, August 1st. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Universal Display Corporation in a report on Wednesday, August 9th. Finally, BidaskClub lowered shares of Universal Display Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $121.11.
Universal Display Corporation (NASDAQ:OLED) last released its earnings results on Thursday, August 3rd. The semiconductor company reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.31. Universal Display Corporation had a return on equity of 14.90% and a net margin of 31.15%. The company had revenue of $102.50 million for the quarter, compared to analysts’ expectations of $84.81 million. During the same quarter in the previous year, the business posted $0.46 EPS. The business’s revenue for the quarter was up 59.2% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which was paid on Saturday, September 30th. Shareholders of record on Friday, September 15th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.12 annualized dividend and a yield of 0.09%. Universal Display Corporation’s dividend payout ratio (DPR) is presently 6.94%.
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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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