QCI Asset Management Inc. NY grew its stake in shares of Universal Display Co. (NASDAQ:OLED) by 71.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 140,455 shares of the semiconductor company’s stock after acquiring an additional 58,657 shares during the period. QCI Asset Management Inc. NY’s holdings in Universal Display were worth $16,560,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. First Hawaiian Bank acquired a new stake in shares of Universal Display in the 3rd quarter valued at $106,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of 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 valued at $160,000 after purchasing an additional 592 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Universal Display by 4,030.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 190,683 shares of the semiconductor company’s stock valued at $192,000 after purchasing an additional 186,066 shares during the last quarter. Oliver Luxxe Assets LLC acquired a new stake in shares of Universal Display in the 3rd quarter valued at $201,000. Finally, US Bancorp DE lifted its stake in shares of Universal Display by 37.1% in the 3rd quarter. US Bancorp DE now owns 1,714 shares of the semiconductor company’s stock valued at $202,000 after purchasing an additional 464 shares during the last quarter. Institutional investors and hedge funds own 73.84% of the company’s stock.
Several equities research analysts recently issued reports on OLED shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Universal Display in a research note on Friday, November 2nd. CIBC lifted their price objective on shares of Universal Display from $120.00 to $140.00 and gave the company an “outperform” rating in a research note on Tuesday, September 25th. ValuEngine raised shares of Universal Display from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. BidaskClub raised shares of Universal Display from a “hold” rating to a “buy” rating in a research report on Thursday, August 30th. Finally, Zacks Investment Research lowered shares of Universal Display from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $167.82.
Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, November 1st. The semiconductor company reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.18). The firm had revenue of $77.55 million for the quarter, compared to analyst estimates of $92.21 million. Universal Display had a return on equity of 12.77% and a net margin of 24.70%. The firm’s revenue was up 25.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS. Equities analysts expect that Universal Display Co. will post 1.31 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Thursday, December 13th. Universal Display’s dividend payout ratio is 9.88%.
In other Universal Display news, VP Mauro Premutico sold 10,044 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $123.63, for a total transaction of $1,241,739.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lawrence Lacerte sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $97.02, for a total transaction of $970,200.00. Following the transaction, the director now directly owns 330,000 shares of the company’s stock, valued at approximately $32,016,600. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,044 shares of company stock valued at $4,004,590. Company insiders own 4.00% of the company’s stock.
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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