Keybank National Association OH trimmed its position in shares of Universal Display Co. (NASDAQ:OLED) by 59.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 2,336 shares of the semiconductor company’s stock after selling 3,397 shares during the period. Keybank National Association OH’s holdings in Universal Display were worth $439,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Meridian Wealth Management LLC acquired a new position in shares of Universal Display in the first quarter valued at $31,000. TCI Wealth Advisors Inc. increased its holdings in shares of Universal Display by 1,458.3% in the second quarter. TCI Wealth Advisors Inc. now owns 187 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 175 shares during the last quarter. Weaver Consulting Group acquired a new position in shares of Universal Display in the first quarter valued at $39,000. Regal Investment Advisors LLC acquired a new position in shares of Universal Display in the first quarter valued at $50,000. Finally, Pearl River Capital LLC increased its holdings in shares of Universal Display by 251.4% in the first quarter. Pearl River Capital LLC now owns 390 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 279 shares during the last quarter. Institutional investors and hedge funds own 74.80% of the company’s stock.
A number of equities research analysts have recently issued reports on OLED shares. Susquehanna Bancshares reissued a “neutral” rating and issued a $180.00 target price on shares of Universal Display in a research report on Monday, April 29th. BidaskClub cut shares of Universal Display from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Needham & Company LLC cut shares of Universal Display from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. ValuEngine cut shares of Universal Display from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 2nd. Finally, Zacks Investment Research cut shares of Universal Display from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Universal Display presently has a consensus rating of “Hold” and a consensus target price of $183.29.
Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.46. Universal Display had a net margin of 33.08% and a return on equity of 16.52%. The business had revenue of $118.17 million during the quarter, compared to analysts’ expectations of $79.26 million. During the same quarter in the prior year, the business posted $0.23 earnings per share. Universal Display’s revenue was up 110.5% compared to the same quarter last year. Sell-side analysts anticipate that Universal Display Co. will post 2.68 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, September 13th. This represents a $0.40 annualized dividend and a yield of 0.19%. Universal Display’s dividend payout ratio is 32.26%.
In other news, CFO Sidney D. Rosenblatt sold 33,790 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $209.59, for a total value of $7,082,046.10. Following the completion of the transaction, the chief financial officer now owns 209,838 shares of the company’s stock, valued at $43,979,946.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sidney D. Rosenblatt sold 33,930 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $182.23, for a total transaction of $6,183,063.90. The disclosure for this sale can be found here. Insiders have sold 177,801 shares of company stock valued at $34,646,297 in the last ninety days. 3.70% of the stock is currently owned by company insiders.
Universal Display 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 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.
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