Arrowstreet Capital Limited Partnership purchased a new position in Universal Display Co. (NASDAQ:OLED) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,941 shares of the semiconductor company’s stock, valued at approximately $1,026,000.
A number of other institutional investors have also bought and sold shares of OLED. UBS Asset Management Americas Inc. raised its stake in shares of Universal Display by 48.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 396,713 shares of the semiconductor company’s stock valued at $68,492,000 after acquiring an additional 128,667 shares during the last quarter. BlackRock Inc. raised its stake in shares of Universal Display by 1.7% during the fourth quarter. BlackRock Inc. now owns 1,688,333 shares of the semiconductor company’s stock valued at $291,493,000 after acquiring an additional 28,816 shares during the last quarter. Montag A & Associates Inc. bought a new position in shares of Universal Display during the fourth quarter valued at about $346,000. AMG National Trust Bank raised its stake in shares of Universal Display by 6.9% during the fourth quarter. AMG National Trust Bank now owns 19,350 shares of the semiconductor company’s stock valued at $3,341,000 after acquiring an additional 1,250 shares during the last quarter. Finally, First Allied Advisory Services Inc. bought a new position in shares of Universal Display during the fourth quarter valued at about $258,000. 62.66% of the stock is owned by institutional investors and hedge funds.
OLED has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Universal Display from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. BidaskClub cut shares of Universal Display from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. Needham & Company LLC upgraded shares of Universal Display from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Tuesday, February 20th. They noted that the move was a valuation call. Susquehanna Bancshares boosted their price target on shares of Universal Display from $195.00 to $215.00 and gave the company a “positive” rating in a research report on Friday, January 5th. Finally, Deutsche Bank reiterated a “buy” rating and set a $190.00 price target on shares of Universal Display in a research report on Thursday, January 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $167.09.
Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, February 22nd. The semiconductor company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.11. The company had revenue of $115.87 million for the quarter, compared to analysts’ expectations of $99.55 million. Universal Display had a net margin of 30.95% and a return on equity of 18.80%. Universal Display’s quarterly revenue was up 55.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 earnings per share. analysts expect that Universal Display Co. will post 2.66 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 15th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date is Wednesday, March 14th. This is a boost from Universal Display’s previous quarterly dividend of $0.03. Universal Display’s dividend payout ratio is 4.88%.
In other Universal Display news, Director Richard C. Elias sold 2,250 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $129.60, for a total value of $291,600.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Sherwin I. Seligsohn sold 50,000 shares of the company’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $200.00, for a total transaction of $10,000,000.00. Following the completion of the sale, the chairman now owns 143,119 shares in the company, valued at approximately $28,623,800. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by corporate insiders.
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Universal Display 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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