US Bancorp DE Raises Holdings in Universal Display Co. (OLED)
US Bancorp DE grew its stake in shares of Universal Display Co. (NASDAQ:OLED) by 4,188.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 729 shares of the semiconductor company’s stock after acquiring an additional 712 shares during the period. US Bancorp DE’s holdings in Universal Display were worth $126,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new stake in shares of Universal Display in the fourth quarter valued at approximately $129,000. CIBC Asset Management Inc acquired a new stake in shares of Universal Display in the third quarter valued at approximately $205,000. Ballentine Partners LLC acquired a new stake in shares of Universal Display in the third quarter valued at approximately $209,000. Jarislowsky Fraser Ltd acquired a new stake in shares of Universal Display in the third quarter valued at approximately $212,000. Finally, Investment Centers of America Inc. acquired a new stake in shares of Universal Display in the third quarter valued at approximately $219,000. Institutional investors own 66.36% of the company’s stock.
A number of equities research analysts have recently weighed in on OLED shares. Gabelli downgraded shares of Universal Display from a “buy” rating to a “hold” rating and set a $134.00 price target for the company. in a research report on Friday, November 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Universal Display in a research report on Friday, November 3rd. Cowen reiterated an “outperform” rating and issued a $195.00 price target (up from $155.00) on shares of Universal Display in a research report on Friday, November 10th. Zacks Investment Research downgraded shares of Universal Display from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Finally, Evercore ISI started coverage on shares of Universal Display in a research report on Thursday, November 30th. They issued an “outperform” rating and a $225.00 price target for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $167.09.
Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. The business had revenue of $115.87 million for 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 firm’s quarterly revenue was up 55.3% compared to the same quarter last year. During the same period last year, the firm posted $0.55 earnings per share. equities analysts anticipate that Universal Display Co. will post 2.66 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Thursday, March 15th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.19%. This is a boost from Universal Display’s previous quarterly dividend of $0.03. The ex-dividend date is Wednesday, March 14th. Universal Display’s dividend payout ratio (DPR) is 5.50%.
In related news, Chairman Sherwin I. Seligsohn sold 50,000 shares of Universal Display stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $200.00, for a total value of $10,000,000.00. Following the transaction, the chairman now directly owns 143,119 shares of the company’s stock, valued at $28,623,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard C. Elias sold 2,250 shares of Universal Display 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.
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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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