DSAM Partners London Ltd Increases Stake in Universal Display Corporation (OLED)
DSAM Partners London Ltd boosted its position in Universal Display Corporation (NASDAQ:OLED) by 26.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 278,000 shares of the semiconductor company’s stock after buying an additional 57,477 shares during the period. Universal Display Corporation makes up 5.4% of DSAM Partners London Ltd’s portfolio, making the stock its 6th largest position. DSAM Partners London Ltd owned 0.59% of Universal Display Corporation worth $30,372,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OLED. IFP Advisors Inc boosted its position in Universal Display Corporation by 307.5% in the second quarter. IFP Advisors Inc now owns 1,080 shares of the semiconductor company’s stock worth $118,000 after buying an additional 815 shares during the period. FNY Partners Fund LP purchased a new position in Universal Display Corporation during the first quarter worth approximately $146,000. Invictus RG purchased a new position in Universal Display Corporation during the first quarter worth approximately $152,000. BNP Paribas Arbitrage SA boosted its position in Universal Display Corporation by 79.4% in the second quarter. BNP Paribas Arbitrage SA now owns 1,536 shares of the semiconductor company’s stock worth $168,000 after buying an additional 680 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new position in Universal Display Corporation during the second quarter worth approximately $197,000. Institutional investors own 64.29% of the company’s stock.
Shares of Universal Display Corporation (OLED) opened at 111.25 on Tuesday. The firm has a market capitalization of $5.23 billion, a PE ratio of 64.49 and a beta of 1.05. Universal Display Corporation has a 52 week low of $47.88 and a 52 week high of $130.65. The stock has a 50 day moving average price of $116.44 and a 200 day moving average price of $101.08.
Universal Display Corporation (NASDAQ:OLED) last posted its earnings results on Thursday, August 3rd. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.31. Universal Display Corporation had a net margin of 31.15% and a return on equity of 14.90%. The business had revenue of $102.50 million for the quarter, compared to analyst estimates of $84.81 million. During the same period last year, the business posted $0.46 EPS. Universal Display Corporation’s revenue was up 59.2% compared to the same quarter last year. Equities analysts forecast that Universal Display Corporation will post $2.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, September 30th. Investors of record on Friday, September 15th will be paid a $0.03 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.11%. Universal Display Corporation’s payout ratio is presently 6.94%.
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A number of research firms have commented on OLED. Cowen and Company decreased their price target on Universal Display Corporation from $105.00 to $90.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 3rd. Zacks Investment Research upgraded Universal Display Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, May 6th. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Universal Display Corporation in a research note on Wednesday, August 9th. BidaskClub cut Universal Display Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Finally, Susquehanna Bancshares Inc upped their price target on Universal Display Corporation from $105.00 to $120.00 and gave the stock a “positive” rating in a research note on Monday, May 15th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $118.00.
In related news, insider Julia J. Brown sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $125.00, for a total value of $1,250,000.00. Following the transaction, the insider now directly owns 162,932 shares in the company, valued at approximately $20,366,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steven V. Abramson sold 18,000 shares of the firm’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $124.53, for a total transaction of $2,241,540.00. Following the completion of the transaction, the chief executive officer now owns 262,888 shares in the company, valued at $32,737,442.64. The disclosure for this sale can be found here. Company insiders own 5.70% of the company’s stock.
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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