Russell Investments Group Ltd. boosted its position in Universal Display Corporation (NASDAQ:OLED) by 198.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,709 shares of the semiconductor company’s stock after buying an additional 44,384 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.14% of Universal Display worth $8,595,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of OLED. Schroder Investment Management Group acquired a new position in shares of Universal Display during the 2nd quarter worth approximately $25,450,000. Newbrook Capital Advisors LP increased its position in shares of Universal Display by 49.4% during the 2nd quarter. Newbrook Capital Advisors LP now owns 558,174 shares of the semiconductor company’s stock worth $60,981,000 after purchasing an additional 184,683 shares during the last quarter. Scout Investments Inc. acquired a new position in shares of Universal Display during the 3rd quarter worth approximately $12,515,000. Neuberger Berman Group LLC increased its position in shares of Universal Display by 18.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 606,472 shares of the semiconductor company’s stock worth $66,257,000 after purchasing an additional 93,223 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Universal Display by 118.9% during the 3rd quarter. First Trust Advisors LP now owns 170,358 shares of the semiconductor company’s stock worth $21,951,000 after purchasing an additional 92,546 shares during the last quarter. 65.03% of the stock is currently owned by hedge funds and other institutional investors.
OLED has been the topic of several recent analyst reports. Susquehanna Bancshares reaffirmed a “positive” rating and set a $150.00 price target (up previously from $120.00) on shares of Universal Display in a research report on Wednesday, August 9th. Goldman Sachs Group reaffirmed a “buy” rating and set a $150.00 price target (up previously from $140.00) on shares of Universal Display in a research report on Wednesday, August 9th. Oppenheimer reaffirmed a “market perform” rating on shares of Universal Display in a research report on Wednesday, August 9th. Zacks Investment Research raised Universal Display from a “hold” rating to a “strong-buy” rating and set a $136.00 price target on the stock in a research report on Thursday, August 10th. Finally, BidaskClub lowered Universal Display from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $151.30.
Universal Display Corporation (OLED) opened at $164.05 on Thursday. The firm has a market capitalization of $7,808.74, a P/E ratio of 81.37 and a beta of 1.06. Universal Display Corporation has a 1-year low of $55.20 and a 1-year high of $192.75.
Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.19. The business had revenue of $61.70 million for the quarter, compared to analyst estimates of $47.35 million. Universal Display had a return on equity of 16.67% and a net margin of 32.92%. The firm’s revenue was up 104.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.03) EPS. equities research analysts anticipate that Universal Display Corporation will post 2.33 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.07%. The ex-dividend date is Thursday, December 14th. Universal Display’s payout ratio is presently 5.88%.
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Universal Display Company 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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