Kayak Investment Partners LLC Has $28,664,000 Holdings in Universal Display Corporation (OLED)
Kayak Investment Partners LLC continued to hold its stake in shares of Universal Display Corporation (NASDAQ:OLED) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 262,369 shares of the semiconductor company’s stock at the end of the 2nd quarter. Universal Display Corporation accounts for 13.9% of Kayak Investment Partners LLC’s portfolio, making the stock its largest position. Kayak Investment Partners LLC owned 0.56% of Universal Display Corporation worth $28,664,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in OLED. IFP Advisors Inc lifted its position in shares of 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 purchasing an additional 815 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Universal Display Corporation by 79.4% during the second quarter. BNP Paribas Arbitrage SA now owns 1,536 shares of the semiconductor company’s stock valued at $168,000 after purchasing an additional 680 shares in the last quarter. FNY Partners Fund LP purchased a new position in Universal Display Corporation during the first quarter valued at approximately $146,000. Invictus RG purchased a new position in Universal Display Corporation during the first quarter valued at approximately $152,000. Finally, Daiwa Securities Group Inc. purchased a new position in Universal Display Corporation during the second quarter valued at approximately $197,000. 64.09% of the stock is currently owned by institutional investors.
Shares of Universal Display Corporation (OLED) traded down 1.32% during trading on Wednesday, hitting $127.00. The stock had a trading volume of 303,748 shares. The stock’s 50-day moving average is $124.51 and its 200-day moving average is $111.24. Universal Display Corporation has a 12-month low of $47.88 and a 12-month high of $145.30. The stock has a market capitalization of $5.97 billion, a P/E ratio of 73.62 and a beta of 1.04.
Universal Display Corporation (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.31. The firm had revenue of $102.50 million for the quarter, compared to analyst estimates of $84.81 million. Universal Display Corporation had a return on equity of 14.90% and a net margin of 31.15%. The company’s revenue was up 59.2% on a year-over-year basis. During the same quarter last year, the company earned $0.46 EPS. Analysts predict that Universal Display Corporation will post $2.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, September 30th. Shareholders of record on Friday, September 15th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.12 annualized dividend and a yield of 0.09%. Universal Display Corporation’s dividend payout ratio is currently 6.94%.
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In related news, insider Julia J. Brown sold 10,000 shares of Universal Display Corporation stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the sale, the insider now directly owns 162,932 shares of the company’s stock, valued at approximately $20,366,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven V. Abramson sold 18,000 shares of Universal Display Corporation stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 262,888 shares in the company, valued at $32,737,442.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,240 shares of company stock valued at $10,274,945. Company insiders own 5.20% of the company’s stock.
Several equities analysts have recently commented on OLED shares. Susquehanna Bancshares Inc restated a “positive” rating and set a $150.00 price target (up from $120.00) on shares of Universal Display Corporation in a report on Wednesday, August 9th. BidaskClub lowered Universal Display Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $150.00 target price (up from $140.00) on shares of Universal Display Corporation in a research report on Wednesday, August 9th. Deutsche Bank AG initiated coverage on Universal Display Corporation in a research note on Wednesday, August 30th. They set a “buy” rating and a $135.00 price target for the company. Finally, Zacks Investment Research upgraded Universal Display Corporation from a “hold” rating to a “strong-buy” rating and set a $136.00 price target for the company in a report on Thursday, August 10th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Universal Display Corporation has an average rating of “Buy” and a consensus target price of $121.11.
Universal Display Corporation Company 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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