Gilder Gagnon Howe & Co. LLC raised its stake in shares of Universal Display Corporation (NASDAQ:OLED) by 30.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,713 shares of the semiconductor company’s stock after buying an additional 1,095 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in Universal Display Corporation were worth $515,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Universal Display Corporation by 82,293.2% in the first quarter. BlackRock Inc. now owns 2,817,024 shares of the semiconductor company’s stock valued at $242,545,000 after buying an additional 2,813,605 shares during the period. TimesSquare Capital Management LLC acquired a new stake in Universal Display Corporation during the first quarter valued at approximately $34,440,000. Columbus Circle Investors increased its stake in Universal Display Corporation by 41.5% in the first quarter. Columbus Circle Investors now owns 884,208 shares of the semiconductor company’s stock valued at $76,130,000 after buying an additional 259,267 shares during the period. FMR LLC increased its stake in Universal Display Corporation by 193.6% in the first quarter. FMR LLC now owns 325,005 shares of the semiconductor company’s stock valued at $27,983,000 after buying an additional 214,324 shares during the period. Finally, ARS Investment Partners LLC acquired a new stake in Universal Display Corporation during the first quarter valued at approximately $17,603,000. 69.40% of the stock is currently owned by institutional investors and hedge funds.
Shares of Universal Display Corporation (OLED) opened at 110.45 on Friday. The company’s 50-day moving average is $117.12 and its 200-day moving average is $97.41. Universal Display Corporation has a one year low of $47.88 and a one year high of $130.65. The stock has a market capitalization of $5.19 billion, a P/E ratio of 64.03 and a beta of 1.05.
Universal Display Corporation (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.31. Universal Display Corporation had a net margin of 31.15% and a return on equity of 14.90%. The firm had revenue of $102.50 million for the quarter, compared to analyst estimates of $84.81 million. During the same period last year, the firm posted $0.46 EPS. Universal Display Corporation’s quarterly revenue was up 59.2% on a year-over-year basis. On average, equities research analysts anticipate that Universal Display Corporation will post $2.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 30th. Investors of record on Friday, September 15th will be given a $0.03 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.11%. Universal Display Corporation’s dividend payout ratio (DPR) is 6.94%.
Several analysts have recently commented on OLED shares. BidaskClub raised shares of Universal Display Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, June 9th. Zacks Investment Research raised shares of Universal Display Corporation from a “hold” rating to a “strong-buy” rating and set a $134.00 price target on the stock in a report on Wednesday, May 17th. Cowen and Company lowered their price target on shares of Universal Display Corporation from $105.00 to $90.00 and set an “outperform” rating on the stock in a report on Wednesday, May 3rd. Susquehanna Bancshares Inc reissued a “positive” rating on shares of Universal Display Corporation in a report on Thursday, July 13th. Finally, Goldman Sachs Group, Inc. (The) increased their price target on shares of Universal Display Corporation from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, May 8th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $118.00.
In other Universal Display Corporation news, insider Julia J. Brown sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the sale, the insider now directly owns 162,932 shares in the company, valued at approximately $20,366,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leonard Becker sold 3,750 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $114.24, for a total transaction of $428,400.00. Following the sale, the director now owns 13,750 shares in the company, valued at $1,570,800. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,750 shares of company stock worth $3,919,940. 5.70% of the stock is currently 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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