First Republic Investment Management Inc. acquired a new stake in Universal Display Corporation (NASDAQ:OLED) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,862 shares of the semiconductor company’s stock, valued at approximately $627,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BKS Advisors LLC bought a new stake in Universal Display in the second quarter valued at about $2,318,000. Balyasny Asset Management LLC bought a new stake in Universal Display in the second quarter valued at about $3,673,000. Seven Eight Capital LP increased its holdings in Universal Display by 9.9% in the second quarter. Seven Eight Capital LP now owns 17,700 shares of the semiconductor company’s stock valued at $1,934,000 after purchasing an additional 1,600 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in Universal Display by 18.2% in the second quarter. Neuberger Berman Group LLC now owns 606,472 shares of the semiconductor company’s stock valued at $66,257,000 after purchasing an additional 93,223 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in Universal Display in the second quarter valued at about $366,000. Institutional investors and hedge funds own 65.03% of the company’s stock.

Universal Display Corporation (NASDAQ:OLED) opened at $170.55 on Friday. Universal Display Corporation has a 52 week low of $55.30 and a 52 week high of $192.75. The stock has a market capitalization of $8,020.00, a PE ratio of 82.92 and a beta of 1.06.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.19. Universal Display had a return on equity of 16.67% and a net margin of 32.92%. The firm had revenue of $61.70 million during the quarter, compared to analysts’ expectations of $47.35 million. During the same period in the previous year, the firm earned ($0.03) earnings per share. The company’s revenue 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 business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.12 annualized dividend and a yield of 0.07%. Universal Display’s dividend payout ratio (DPR) is presently 5.74%.

A number of equities research analysts recently commented on the company. Evercore ISI assumed coverage on Universal Display in a report on Thursday, November 30th. They issued an “outperform” rating and a $225.00 price objective for the company. Zacks Investment Research upgraded Universal Display from a “hold” rating to a “buy” rating and set a $198.00 price objective for the company in a report on Wednesday, November 15th. Cowen reiterated an “outperform” rating and issued a $195.00 price objective (up previously from $155.00) on shares of Universal Display in a report on Friday, November 10th. Deutsche Bank boosted their target price on Universal Display to $190.00 and gave the company a “buy” rating in a research note on Friday, December 8th. Finally, BidaskClub cut Universal Display from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $155.30.

In other Universal Display news, CFO Sidney D. Rosenblatt sold 50,240 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $135.02, for a total value of $6,783,404.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Julia J. Brown sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $150.00, for a total value of $1,500,000.00. Following the completion of the sale, the insider now owns 152,932 shares in the company, valued at approximately $22,939,800. The disclosure for this sale can be found here. Insiders have sold 196,974 shares of company stock valued at $30,133,174 over the last three months. Insiders own 5.20% of the company’s stock.

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

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