Universal Display Co. (NASDAQ:OLED) Stake Decreased by 1492 Capital Management LLC
1492 Capital Management LLC cut its stake in shares of Universal Display Co. (NASDAQ:OLED) by 9.1% during the first quarter, HoldingsChannel.com reports. The firm owned 9,305 shares of the semiconductor company’s stock after selling 934 shares during the period. Universal Display accounts for about 1.2% of 1492 Capital Management LLC’s portfolio, making the stock its 27th largest position. 1492 Capital Management LLC’s holdings in Universal Display were worth $1,422,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc boosted its position in Universal Display by 2.4% in the 3rd quarter. Vanguard Group Inc now owns 3,698,321 shares of the semiconductor company’s stock valued at $436,031,000 after buying an additional 86,819 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in Universal Display in the 4th quarter valued at about $372,000. Rhumbline Advisers boosted its position in Universal Display by 145.5% in the 4th quarter. Rhumbline Advisers now owns 117,964 shares of the semiconductor company’s stock valued at $11,038,000 after buying an additional 69,923 shares during the period. State Treasurer State of Michigan purchased a new stake in Universal Display in the 4th quarter valued at about $1,413,000. Finally, LS Investment Advisors LLC purchased a new stake in shares of Universal Display in the 4th quarter worth approximately $221,000. 75.96% of the stock is currently owned by institutional investors and hedge funds.
In related news, 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 transaction of $2,465,552.16. Following the completion of the sale, the vice president now owns 51,989 shares of the company’s stock, valued at $9,106,393.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rosemarie B. Greco sold 4,425 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $171.13, for a total transaction of $757,250.25. Following the sale, the director now directly owns 6,793 shares of the company’s stock, valued at approximately $1,162,486.09. The disclosure for this sale can be found here. Insiders have sold 64,359 shares of company stock valued at $10,815,044 in the last three months. 3.70% of the stock is currently owned by corporate insiders.
Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, May 2nd. The semiconductor company reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.40. Universal Display had a net margin of 28.93% and a return on equity of 12.35%. The company had revenue of $87.80 million during the quarter, compared to analysts’ expectations of $64.59 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. Universal Display’s revenue for the quarter was up 101.4% compared to the same quarter last year. As a group, research analysts expect that Universal Display Co. will post 2.44 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.23%. Universal Display’s payout ratio is 32.26%.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Universal Display from a “hold” rating to a “buy” rating and set a $174.00 price target for the company in a research report on Tuesday, March 26th. Needham & Company LLC upped their price target on shares of Universal Display from $105.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, February 22nd. Roth Capital upped their price target on shares of Universal Display from $128.00 to $172.00 and gave the stock a “buy” rating in a research report on Tuesday, February 26th. Deutsche Bank upped their price target on shares of Universal Display to $140.00 in a research report on Friday, February 22nd. Finally, Susquehanna Bancshares reaffirmed a “neutral” rating and issued a $180.00 price target on shares of Universal Display in a research report on Monday, April 29th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Universal Display currently has a consensus rating of “Buy” and a consensus target price of $160.44.
Universal Display Company Profile
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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