Summit X LLC boosted its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 11.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,013 shares of the semiconductor company’s stock after buying an additional 1,702 shares during the period. Summit X LLC’s holdings in Universal Display were worth $1,463,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. PNC Financial Services Group Inc. increased its position in Universal Display by 13.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,432 shares of the semiconductor company’s stock worth $381,000 after purchasing an additional 542 shares during the last quarter. Amalgamated Bank increased its position in Universal Display by 6.8% in the 1st quarter. Amalgamated Bank now owns 8,893 shares of the semiconductor company’s stock worth $898,000 after purchasing an additional 569 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in Universal Display by 46.5% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,866 shares of the semiconductor company’s stock worth $160,000 after purchasing an additional 592 shares during the last quarter. Alps Advisors Inc. increased its position in Universal Display by 13.8% in the 2nd quarter. Alps Advisors Inc. now owns 4,915 shares of the semiconductor company’s stock worth $423,000 after purchasing an additional 596 shares during the last quarter. Finally, Assetmark Inc. increased its position in Universal Display by 187.9% in the 1st quarter. Assetmark Inc. now owns 996 shares of the semiconductor company’s stock worth $101,000 after purchasing an additional 650 shares during the last quarter. 72.56% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Mauro Premutico sold 10,044 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $123.63, for a total transaction of $1,241,739.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lawrence Lacerte sold 15,000 shares of the stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $119.51, for a total value of $1,792,650.00. Following the sale, the director now owns 348,950 shares of the company’s stock, valued at approximately $41,703,014.50. The disclosure for this sale can be found here. 4.00% of the stock is owned by corporate insiders.

OLED has been the subject of several recent analyst reports. Needham & Company LLC upped their price target on Universal Display from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Goldman Sachs Group set a $150.00 price target on Universal Display and gave the stock a “buy” rating in a research note on Tuesday, May 29th. Citigroup initiated coverage on Universal Display in a research note on Tuesday, September 4th. They set a “buy” rating and a $153.00 price target for the company. BidaskClub upgraded Universal Display from a “hold” rating to a “buy” rating in a research note on Thursday, August 30th. Finally, ValuEngine upgraded Universal Display from a “hold” rating to a “buy” rating in a research note on Monday, August 13th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $172.82.

OLED opened at $121.45 on Monday. The stock has a market cap of $5.72 billion, a PE ratio of 49.98 and a beta of 1.73. Universal Display Co. has a 52-week low of $78.75 and a 52-week high of $209.00.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, August 9th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.08. Universal Display had a return on equity of 11.59% and a net margin of 22.76%. The company had revenue of $56.15 million during the quarter, compared to the consensus estimate of $49.64 million. During the same quarter in the prior year, the company posted $0.99 EPS. The firm’s revenue was down 45.2% on a year-over-year basis. research analysts expect that Universal Display Co. will post 1.83 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Saturday, September 15th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.24 annualized dividend and a yield of 0.20%. Universal Display’s payout ratio is 9.88%.

About Universal Display

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in flat panel displays and solid-state lighting applications. As of February 22, 2018, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 4,500 issued and pending patents worldwide.

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

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