Public Employees Retirement Association of Colorado cut its stake in Universal Display Corporation (NASDAQ:OLED) by 16.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,468 shares of the semiconductor company’s stock after selling 1,688 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Universal Display Corporation were worth $1,091,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Penserra Capital Management LLC bought a new stake in shares of Universal Display Corporation in the third quarter worth approximately $2,911,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of Universal Display Corporation by 73.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 25,846 shares of the semiconductor company’s stock worth $3,330,000 after acquiring an additional 10,952 shares during the period. New Jersey Better Educational Savings Trust bought a new stake in Universal Display Corporation during the third quarter valued at approximately $258,000. Aperio Group LLC grew its position in Universal Display Corporation by 7.2% during the third quarter. Aperio Group LLC now owns 10,380 shares of the semiconductor company’s stock valued at $1,337,000 after buying an additional 695 shares during the period. Finally, First Trust Advisors LP grew its position in Universal Display Corporation by 118.9% during the third quarter. First Trust Advisors LP now owns 170,358 shares of the semiconductor company’s stock valued at $21,951,000 after buying an additional 92,546 shares during the period. Hedge funds and other institutional investors own 63.97% of the company’s stock.
In related news, insider Steven V. Abramson sold 18,744 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $158.40, for a total transaction of $2,969,049.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Rosemarie B. Greco sold 1,250 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $168.63, for a total transaction of $210,787.50. Following the sale, the director now directly owns 12,800 shares in the company, valued at approximately $2,158,464. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 196,974 shares of company stock worth $30,133,174. 5.20% of the stock is owned by insiders.
Several brokerages recently issued reports on OLED. Cowen and Company restated an “outperform” rating and set a $195.00 target price (up from $155.00) on shares of Universal Display Corporation in a research report on Friday. Needham & Company LLC restated a “hold” rating on shares of Universal Display Corporation in a research report on Friday, November 3rd. Gabelli lowered 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 lowered shares of Universal Display Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $139.78.
Universal Display Corporation (OLED) opened at $175.90 on Friday. Universal Display Corporation has a 1-year low of $52.10 and a 1-year high of $176.50. The company has a market cap of $8,274.51, a price-to-earnings ratio of 86.23 and a beta of 1.03.
Universal Display Corporation (NASDAQ:OLED) last released its earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.09 by $0.19. The firm had revenue of $61.70 million for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned ($0.03) earnings per share. analysts anticipate that Universal Display Corporation will post 2.33 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.07%. The ex-dividend date is Thursday, December 14th. Universal Display Corporation’s payout ratio is 5.88%.
Universal Display Corporation 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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