Universal Display Corporation (OLED) Position Decreased by Sei Investments Co.
Sei Investments Co. decreased its stake in shares of Universal Display Corporation (NASDAQ:OLED) by 14.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,111 shares of the semiconductor company’s stock after selling 14,784 shares during the period. Sei Investments Co.’s holdings in Universal Display Corporation were worth $9,626,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. Dubuque Bank & Trust Co. purchased a new stake in shares of Universal Display Corporation during the first quarter valued at approximately $125,000. FNY Partners Fund LP purchased a new stake in shares of Universal Display Corporation during the first quarter valued at approximately $146,000. Invictus RG purchased a new stake in shares of Universal Display Corporation during the first quarter valued at approximately $152,000. Daiwa Securities Group Inc. purchased a new stake in shares of Universal Display Corporation during the second quarter valued at approximately $197,000. Finally, Foundry Partners LLC purchased a new stake in shares of Universal Display Corporation during the first quarter valued at approximately $208,000. Hedge funds and other institutional investors own 69.40% of the company’s stock.
Shares of Universal Display Corporation (NASDAQ:OLED) opened at 110.45 on Friday. The company has a market capitalization of $5.19 billion, a P/E ratio of 64.03 and a beta of 1.05. The firm has a 50-day moving average of $117.12 and a 200-day moving average of $97.41. Universal Display Corporation has a one year low of $47.88 and a one year high of $130.65.
Universal Display Corporation (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.99 earnings per share (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 the consensus estimate of $84.81 million. Universal Display Corporation had a net margin of 31.15% and a return on equity of 14.90%. The firm’s quarterly revenue was up 59.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.46 earnings per share. Analysts forecast that Universal Display Corporation will post $2.14 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, September 30th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.11%. The ex-dividend date is Thursday, September 14th. Universal Display Corporation’s payout ratio is 6.94%.
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Several analysts have recently commented on OLED shares. BidaskClub downgraded shares of Universal Display Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Cross Research upgraded shares of Universal Display Corporation from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research report on Friday, May 5th. Goldman Sachs Group, Inc. (The) raised their price objective on shares of Universal Display Corporation from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, May 8th. Gabelli restated a “buy” rating on shares of Universal Display Corporation in a research report on Monday, May 8th. Finally, Cowen and Company set a $140.00 price objective on shares of Universal Display Corporation and gave the company a “buy” rating in a research report on Friday, August 4th. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Universal Display Corporation presently has a consensus rating of “Buy” and a consensus price target of $118.00.
In other Universal Display Corporation news, insider Julia J. Brown sold 10,000 shares of the stock in a transaction 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 transaction, the insider now directly owns 162,932 shares of the company’s stock, valued at $20,366,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Leonard Becker sold 3,750 shares of the stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $114.24, for a total transaction of $428,400.00. Following the transaction, the director now directly owns 13,750 shares in the company, valued at $1,570,800. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,750 shares of company stock worth $3,919,940. Insiders own 5.70% of the company’s stock.
About Universal Display Corporation
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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