Universal Display Co. (OLED) Holdings Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in Universal Display Co. (NASDAQ:OLED) by 1.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 164,562 shares of the semiconductor company’s stock after selling 2,116 shares during the period. Bank of New York Mellon Corp’s holdings in Universal Display were worth $14,152,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in shares of Universal Display by 13.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,432 shares of the semiconductor company’s stock valued at $381,000 after purchasing an additional 542 shares in the last quarter. Alps Advisors Inc. lifted its stake in shares of Universal Display by 13.8% in the 2nd quarter. Alps Advisors Inc. now owns 4,915 shares of the semiconductor company’s stock valued at $423,000 after purchasing an additional 596 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Universal Display by 15.2% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 5,685 shares of the semiconductor company’s stock valued at $489,000 after purchasing an additional 750 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Universal Display by 14.2% in the 2nd quarter. Bank of Montreal Can now owns 8,024 shares of the semiconductor company’s stock valued at $690,000 after purchasing an additional 995 shares in the last quarter. Finally, Orleans Capital Management Corp LA lifted its stake in shares of Universal Display by 45.4% in the 2nd quarter. Orleans Capital Management Corp LA now owns 3,380 shares of the semiconductor company’s stock valued at $291,000 after purchasing an additional 1,055 shares in the last quarter. Institutional investors own 77.43% of the company’s stock.

Universal Display stock opened at $98.59 on Friday. The company has a market cap of $4.32 billion, a P/E ratio of 40.57, a P/E/G ratio of 2.65 and a beta of 1.54. Universal Display Co. has a one year low of $78.75 and a one year high of $209.00.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, November 1st. The semiconductor company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.18). The company 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 business’s revenue was up 25.7% on a year-over-year basis. During the same period last year, the firm posted $0.28 earnings per share. Analysts predict that Universal Display Co. will post 1.16 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.24%. The ex-dividend date is Thursday, December 13th. Universal Display’s dividend payout ratio (DPR) is presently 9.88%.

In related news, Director Rosemarie B. Greco sold 3,750 shares of the business’s stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $91.39, for a total transaction of $342,712.50. Following the transaction, the director now directly owns 9,450 shares of the company’s stock, valued at approximately $863,635.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lawrence Lacerte sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $97.02, for a total value of $970,200.00. Following the transaction, the director now directly owns 330,000 shares in the company, valued at $32,016,600. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Several research firms have recently weighed in on OLED. Goldman Sachs Group reaffirmed a “buy” rating on shares of Universal Display in a research note on Wednesday, November 21st. BidaskClub raised Universal Display from a “hold” rating to a “buy” rating in a research note on Saturday, November 3rd. ValuEngine raised Universal Display from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Gabelli lowered Universal Display from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. Finally, Oppenheimer lifted their price objective on Universal Display from $120.00 to $140.00 and gave the company an “outperform” rating in a research note on Tuesday, September 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $162.10.

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

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