PNC Financial Services Group Inc. grew its position in shares of Universal Display Co. (NASDAQ:OLED) by 13.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,432 shares of the semiconductor company’s stock after acquiring an additional 542 shares during the period. PNC Financial Services Group Inc.’s holdings in Universal Display were worth $381,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Schwab Charles Investment Management Inc. boosted its holdings in Universal Display by 11.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 207,143 shares of the semiconductor company’s stock worth $20,922,000 after acquiring an additional 21,453 shares during the period. US Bancorp DE boosted its stake in shares of Universal Display by 125.0% during the 1st quarter. US Bancorp DE now owns 1,640 shares of the semiconductor company’s stock valued at $165,000 after buying an additional 911 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of Universal Display during the 1st quarter valued at approximately $287,000. Northern Trust Corp boosted its stake in shares of Universal Display by 0.9% during the 1st quarter. Northern Trust Corp now owns 221,389 shares of the semiconductor company’s stock valued at $22,361,000 after buying an additional 2,056 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Universal Display by 17.6% during the 1st quarter. BlackRock Inc. now owns 1,985,898 shares of the semiconductor company’s stock valued at $200,576,000 after buying an additional 297,565 shares during the last quarter. 72.56% of the stock is owned by hedge funds and other institutional investors.

OLED stock opened at $121.75 on Wednesday. The company has a market cap of $5.72 billion, a P/E ratio of 50.10 and a beta of 1.73. Universal Display Co. has a 12-month low of $78.75 and a 12-month high of $209.00.

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

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

Several equities analysts have recently commented on OLED shares. ValuEngine upgraded Universal Display from a “sell” rating to a “hold” rating in a research note on Tuesday, May 29th. BidaskClub upgraded Universal Display from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 30th. Goldman Sachs Group set a $150.00 target price on Universal Display and gave the company a “buy” rating in a research note on Tuesday, May 29th. Needham & Company LLC increased their target price on Universal Display from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Finally, Zacks Investment Research upgraded Universal Display from a “sell” rating to a “hold” rating in a research note on Saturday, August 11th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $171.75.

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

Universal Display Profile

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.

Further Reading: Earnings Per Share

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

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