Columbus Circle Investors increased its position in Universal Display Co. (NASDAQ:OLED) by 41.5% during the first quarter, Holdings Channel reports. The firm owned 884,208 shares of the semiconductor company’s stock after buying an additional 259,267 shares during the period. Universal Display comprises about 1.1% of Columbus Circle Investors’ portfolio, making the stock its 28th largest position. Columbus Circle Investors’ holdings in Universal Display were worth $76,130,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Foundry Partners LLC bought a new position in shares of Universal Display during the first quarter worth $208,000. Teachers Advisors LLC increased its position in shares of Universal Display by 14.0% in the fourth quarter. Teachers Advisors LLC now owns 249,239 shares of the semiconductor company’s stock worth $14,032,000 after buying an additional 30,647 shares during the period. UBS Asset Management Americas Inc. increased its position in shares of Universal Display by 55.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 345,129 shares of the semiconductor company’s stock worth $19,431,000 after buying an additional 122,772 shares during the period. Norges Bank bought a new position in shares of Universal Display during the fourth quarter worth $36,968,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Universal Display during the fourth quarter worth $372,000. 67.82% of the stock is currently owned by institutional investors.
Shares of Universal Display Co. (NASDAQ:OLED) traded up 4.252% during midday trading on Thursday, reaching $86.425. The company had a trading volume of 534,330 shares. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 84.730 and a beta of 1.27. Universal Display Co. has a 12-month low of $47.88 and a 12-month high of $89.95. The company has a 50 day moving average of $83.79 and a 200 day moving average of $65.16.
Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, February 23rd. The semiconductor company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.13. Universal Display had a return on equity of 8.37% and a net margin of 21.61%. The firm had revenue of $74.60 million for the quarter, compared to analysts’ expectations of $68.60 million. During the same period in the previous year, the firm earned $0.39 EPS. The business’s quarterly revenue was up 19.7% on a year-over-year basis. Analysts anticipate that Universal Display Co. will post $1.42 EPS for the current year.
The business also recently disclosed a special dividend, which was paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th were given a dividend of $0.03 per share. The ex-dividend date was Monday, March 13th.
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A number of equities analysts recently weighed in on the stock. Susquehanna Bancshares Inc reissued a “positive” rating and issued a $105.00 price target on shares of Universal Display in a report on Thursday, April 6th. Goldman Sachs Group Inc reissued a “buy” rating and issued a $88.00 price target on shares of Universal Display in a report on Thursday, March 30th. Cowen and Company reissued an “outperform” rating and issued a $90.00 price target on shares of Universal Display in a report on Thursday, March 30th. Zacks Investment Research downgraded shares of Universal Display from a “buy” rating to a “hold” rating in a report on Tuesday, March 21st. Finally, TheStreet raised shares of Universal Display from a “c+” rating to a “b” rating in a report on Thursday, February 23rd. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $83.29.
In related news, Director Leonard Becker sold 5,000 shares of Universal Display stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $82.20, for a total transaction of $411,000.00. Following the sale, the director now owns 17,500 shares of the company’s stock, valued at approximately $1,438,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Julia J. Brown sold 47,192 shares of Universal Display stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $74.00, for a total value of $3,492,208.00. Following the sale, the insider now directly owns 217,848 shares in the company, valued at approximately $16,120,752. The disclosure for this sale can be found here. 5.70% of the stock is owned by insiders.
Universal Display Company Profile
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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