Universal Display Corporation (OLED) Shares Sold by Castleark Management LLC

Castleark Management LLC trimmed its position in shares of Universal Display Corporation (NASDAQ:OLED) by 46.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,750 shares of the semiconductor company’s stock after selling 70,385 shares during the quarter. Castleark Management LLC owned approximately 0.18% of Universal Display Corporation worth $9,040,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in OLED. Great West Life Assurance Co. Can lifted its position in shares of Universal Display Corporation by 26.0% during the first quarter. Great West Life Assurance Co. Can now owns 4,848 shares of the semiconductor company’s stock worth $416,000 after purchasing an additional 1,000 shares in the last quarter. Karp Capital Management Corp acquired a new position in shares of Universal Display Corporation during the first quarter worth approximately $701,000. Parametric Portfolio Associates LLC lifted its position in shares of Universal Display Corporation by 183.8% during the first quarter. Parametric Portfolio Associates LLC now owns 39,281 shares of the semiconductor company’s stock worth $3,382,000 after purchasing an additional 25,442 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Universal Display Corporation by 2.9% during the first quarter. Prudential Financial Inc. now owns 4,616 shares of the semiconductor company’s stock worth $397,000 after purchasing an additional 130 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Universal Display Corporation during the first quarter worth approximately $460,000. Institutional investors own 64.09% of the company’s stock.

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Universal Display Corporation (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.99 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.31. The business had revenue of $102.50 million during the quarter, compared to analyst estimates of $84.81 million. Universal Display Corporation had a net margin of 31.15% and a return on equity of 14.90%. Universal Display Corporation’s quarterly revenue was up 59.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 EPS.

The company also recently announced a quarterly dividend, which was paid on Saturday, September 30th. Stockholders of record on Friday, September 15th were paid a $0.03 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.09%. Universal Display Corporation’s payout ratio is 6.94%.

In other news, insider Julia J. Brown sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $125.00, for a total value of $1,250,000.00. Following the completion of the sale, the insider now owns 162,932 shares in the company, valued at approximately $20,366,500. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sidney D. Rosenblatt sold 50,240 shares of the company’s stock in a transaction on Monday, September 18th. The stock was 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. In the last quarter, insiders sold 78,240 shares of company stock valued at $10,274,945. Company insiders own 5.20% of the company’s stock.

OLED has been the topic of a number of research reports. Cowen and Company set a $140.00 target price on shares of Universal Display Corporation and gave the stock a “buy” rating in a research report on Wednesday. Summit Redstone restated a “hold” rating and issued a $95.00 price objective on shares of Universal Display Corporation in a report on Tuesday, August 1st. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $161.00 price objective (up from $150.00) on shares of Universal Display Corporation in a report on Monday, September 18th. Zacks Investment Research lowered shares of Universal Display Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, Susquehanna Bancshares Inc restated a “positive” rating and issued a $150.00 price objective on shares of Universal Display Corporation in a report on Tuesday, September 5th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Universal Display Corporation has a consensus rating of “Buy” and an average target price of $121.11.

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

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