Raymond James Financial Services Advisors Inc. Sells 10,670 Shares of Universal Display Co. (OLED)
Raymond James Financial Services Advisors Inc. lessened its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 41.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,176 shares of the semiconductor company’s stock after selling 10,670 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Universal Display were worth $2,620,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. US Bancorp DE grew its position in Universal Display by 4,188.2% in the 4th quarter. US Bancorp DE now owns 729 shares of the semiconductor company’s stock worth $126,000 after purchasing an additional 712 shares during the last quarter. Cerebellum GP LLC bought a new position in Universal Display in the 4th quarter worth about $129,000. Glassman Wealth Services grew its position in Universal Display by 60.7% in the 4th quarter. Glassman Wealth Services now owns 961 shares of the semiconductor company’s stock worth $166,000 after purchasing an additional 363 shares during the last quarter. Aries Wealth Management bought a new position in Universal Display in the 4th quarter worth about $204,000. Finally, Parsons Capital Management Inc. RI bought a new position in Universal Display in the 4th quarter worth about $212,000. 66.36% of the stock is owned by institutional investors and hedge funds.
In related news, Chairman Sherwin I. Seligsohn sold 50,000 shares of the stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $200.00, for a total transaction of $10,000,000.00. Following the completion of the sale, the chairman now directly owns 143,119 shares of the company’s stock, valued at $28,623,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard C. Elias sold 2,250 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $129.60, for a total transaction of $291,600.00. The disclosure for this sale can be found here. Company insiders own 5.20% of the company’s stock.
Universal Display Co. (NASDAQ OLED) opened at $123.55 on Friday. The stock has a market cap of $5,907.19, a P/E ratio of 56.67 and a beta of 1.08. Universal Display Co. has a 1-year low of $79.55 and a 1-year high of $209.00.
Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.11. The business had revenue of $115.87 million during the quarter, compared to analysts’ expectations of $99.55 million. Universal Display had a net margin of 30.95% and a return on equity of 18.80%. The business’s revenue was up 55.3% on a year-over-year basis. During the same period last year, the firm posted $0.55 earnings per share. sell-side analysts expect that Universal Display Co. will post 2.66 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 15th will be issued a $0.06 dividend. The ex-dividend date is Wednesday, March 14th. This is a boost from Universal Display’s previous quarterly dividend of $0.03. This represents a $0.24 annualized dividend and a dividend yield of 0.19%. Universal Display’s dividend payout ratio (DPR) is 5.50%.
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About Universal Display
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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