DekaBank Deutsche Girozentrale Grows Position in Universal Display Co. (NASDAQ:OLED)

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DekaBank Deutsche Girozentrale raised its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 5.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 297,408 shares of the semiconductor company’s stock after acquiring an additional 15,308 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Universal Display were worth $55,910,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Rockefeller Capital Management L.P. lifted its holdings in Universal Display by 2.7% during the first quarter. Rockefeller Capital Management L.P. now owns 3,224 shares of the semiconductor company’s stock valued at $493,000 after purchasing an additional 86 shares during the last quarter. Slow Capital Inc. lifted its holdings in Universal Display by 2.4% during the second quarter. Slow Capital Inc. now owns 4,343 shares of the semiconductor company’s stock valued at $817,000 after purchasing an additional 101 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in Universal Display by 1.4% during the second quarter. Municipal Employees Retirement System of Michigan now owns 7,840 shares of the semiconductor company’s stock valued at $1,474,000 after purchasing an additional 110 shares during the last quarter. ETF Managers Group LLC lifted its holdings in Universal Display by 8.5% during the first quarter. ETF Managers Group LLC now owns 1,419 shares of the semiconductor company’s stock valued at $217,000 after purchasing an additional 111 shares during the last quarter. Finally, Coastline Trust Co lifted its holdings in Universal Display by 1.8% during the second quarter. Coastline Trust Co now owns 8,890 shares of the semiconductor company’s stock valued at $1,672,000 after purchasing an additional 160 shares during the last quarter. 75.79% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have commented on OLED shares. Citigroup upped their price objective on shares of Universal Display from $180.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Needham & Company LLC cut Universal Display from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. BidaskClub upgraded Universal Display from a “buy” rating to a “strong-buy” rating in a research report on Monday. Susquehanna Bancshares reiterated a “neutral” rating and set a $180.00 price target on shares of Universal Display in a research report on Monday, April 29th. Finally, Berenberg Bank began coverage on Universal Display in a research report on Wednesday, July 24th. They set a “hold” rating and a $192.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Universal Display presently has a consensus rating of “Buy” and an average price target of $182.46.

In other news, Director C Keith Hartley sold 10,528 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $214.27, for a total transaction of $2,255,834.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mauro Premutico sold 14,076 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $175.16, for a total value of $2,465,552.16. Following the sale, the vice president now directly owns 51,989 shares of the company’s stock, valued at approximately $9,106,393.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 177,801 shares of company stock worth $34,646,297. 3.70% of the stock is owned by company insiders.

OLED stock opened at $214.39 on Wednesday. The stock has a 50 day moving average of $201.97. The company has a market capitalization of $10.02 billion, a PE ratio of 172.90, a price-to-earnings-growth ratio of 2.64 and a beta of 1.53. Universal Display Co. has a 1-year low of $78.78 and a 1-year high of $218.28.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.46. The company had revenue of $118.17 million for the quarter, compared to analysts’ expectations of $79.26 million. Universal Display had a net margin of 33.08% and a return on equity of 16.52%. Universal Display’s revenue for the quarter was up 110.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 earnings per share. On average, sell-side analysts predict that Universal Display Co. will post 2.68 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.19%. The ex-dividend date is Friday, September 13th. Universal Display’s dividend payout ratio (DPR) is 32.26%.

About Universal Display

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in flat panel displays and solid-state lighting applications. As of February 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.

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

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