DekaBank Deutsche Girozentrale Increases Holdings in Universal Display Corporation (OLED)
DekaBank Deutsche Girozentrale raised its holdings in shares of Universal Display Corporation (NASDAQ:OLED) by 42.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,000 shares of the semiconductor company’s stock after purchasing an additional 8,600 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.06% of Universal Display Corporation worth $3,307,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in OLED. Schroder Investment Management Group acquired a new stake in Universal Display Corporation during the 2nd quarter valued at $25,450,000. Newbrook Capital Advisors LP increased its position in Universal Display Corporation 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 buying an additional 184,683 shares during the period. Scout Investments Inc. bought a new position in Universal Display Corporation during the 3rd quarter worth $12,515,000. Neuberger Berman Group LLC increased its position in Universal Display Corporation 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 buying an additional 93,223 shares during the period. Finally, First Trust Advisors LP increased its position in Universal Display Corporation 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 buying an additional 92,546 shares during the period. 64.58% of the stock is owned by institutional investors and hedge funds.
Shares of Universal Display Corporation (NASDAQ:OLED) opened at $186.50 on Wednesday. Universal Display Corporation has a 12 month low of $52.10 and a 12 month high of $186.55. The company has a market capitalization of $8,770.00, a PE ratio of 88.97 and a beta of 1.03.
Universal Display Corporation (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.19. Universal Display Corporation had a return on equity of 16.67% and a net margin of 32.92%. The firm had revenue of $61.70 million for the quarter, compared to analyst estimates of $47.35 million. During the same period last year, the firm posted ($0.03) earnings per share. The business’s revenue for the quarter was up 104.3% on a year-over-year basis. equities research analysts anticipate that Universal Display Corporation will post 2.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.06%. The ex-dividend date of this dividend is Thursday, December 14th. Universal Display Corporation’s payout ratio is 5.74%.
In related news, insider Julia J. Brown sold 10,000 shares of Universal Display Corporation stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. Following the transaction, the insider now directly owns 152,932 shares of the company’s stock, valued at $22,939,800. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lawrence Lacerte sold 16,500 shares of Universal Display Corporation stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $166.04, for a total value of $2,739,660.00. Following the completion of the transaction, the director now directly owns 350,000 shares in the company, valued at $58,114,000. The disclosure for this sale can be found here. Insiders have sold 196,974 shares of company stock worth $30,133,174 over the last three months. Insiders own 5.20% of the company’s stock.
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OLED has been the topic of several recent research reports. Zacks Investment Research upgraded Universal Display Corporation from a “hold” rating to a “strong-buy” rating and set a $168.00 price objective on the stock in a research report on Thursday, November 2nd. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $150.00 price objective on shares of Universal Display Corporation in a research report on Tuesday, September 5th. Deutsche Bank AG initiated coverage on Universal Display Corporation in a research report on Wednesday, August 30th. They set a “buy” rating and a $135.00 price objective on the stock. Cowen and Company reiterated a “buy” rating and set a $140.00 price objective on shares of Universal Display Corporation in a research report on Friday, September 8th. Finally, Gabelli cut Universal Display Corporation from a “buy” rating to a “hold” rating and set a $134.00 price objective on the stock. in a research report on Friday, November 3rd. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Universal Display Corporation presently has a consensus rating of “Hold” and a consensus price target of $143.11.
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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