Amalgamated Bank raised its stake in shares of Universal Display Co. (NASDAQ:OLED) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,324 shares of the semiconductor company’s stock after purchasing an additional 460 shares during the period. Amalgamated Bank’s holdings in Universal Display were worth $1,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also modified their holdings of the company. Alps Advisors Inc. boosted its position in Universal Display by 9.8% during the 4th quarter. Alps Advisors Inc. now owns 3,900 shares of the semiconductor company’s stock valued at $673,000 after acquiring an additional 347 shares in the last quarter. Eqis Capital Management Inc. boosted its position in Universal Display by 9.0% during the 4th quarter. Eqis Capital Management Inc. now owns 4,291 shares of the semiconductor company’s stock valued at $741,000 after acquiring an additional 353 shares in the last quarter. Glassman Wealth Services boosted its position in Universal Display by 60.7% during the 4th quarter. Glassman Wealth Services now owns 961 shares of the semiconductor company’s stock valued at $166,000 after acquiring an additional 363 shares in the last quarter. Cookson Peirce & Co. Inc. lifted its holdings in shares of Universal Display by 16.9% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 2,660 shares of the semiconductor company’s stock valued at $459,000 after purchasing an additional 385 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Universal Display by 8.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,588 shares of the semiconductor company’s stock valued at $720,000 after purchasing an additional 445 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.
In other Universal Display news, Director Elizabeth H. Gemmill sold 2,500 shares of the company’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $124.07, for a total value of $310,175.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard C. Elias sold 2,250 shares of the company’s stock in a transaction 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. In the last quarter, insiders have sold 54,750 shares of company stock valued at $10,601,775. Insiders own 5.20% of the company’s stock.
NASDAQ OLED traded down $3.45 on Monday, reaching $97.55. The stock had a trading volume of 1,206,792 shares, compared to its average volume of 1,729,246. Universal Display Co. has a 12-month low of $80.80 and a 12-month high of $209.00. The firm has a market cap of $4,752.10, a price-to-earnings ratio of 40.14 and a beta of 1.32.
Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. Universal Display had a return on equity of 18.80% and a net margin of 30.95%. The business had revenue of $115.87 million for the quarter, compared to analyst estimates of $99.55 million. During the same quarter in the prior year, the company earned $0.55 earnings per share. The company’s revenue was up 55.3% on a year-over-year basis. analysts predict that Universal Display Co. will post 2.66 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Thursday, March 15th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.25%. This is an increase from Universal Display’s previous quarterly dividend of $0.03. Universal Display’s payout ratio is presently 9.88%.
A number of brokerages recently issued reports on OLED. BidaskClub lowered Universal Display from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Susquehanna Bancshares raised their target price on Universal Display from $195.00 to $215.00 and gave the company a “positive” rating in a research report on Friday, January 5th. ValuEngine cut Universal Display from a “hold” rating to a “sell” rating in a research report on Monday, March 19th. Zacks Investment Research upgraded Universal Display from a “hold” rating to a “buy” rating and set a $195.00 price objective on the stock in a report on Thursday, January 4th. Finally, Goldman Sachs set a $190.00 price objective on Universal Display and gave the stock a “buy” rating in a report on Tuesday, March 20th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $169.73.
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Universal Display Company 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.
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