Neuberger Berman Group LLC lifted its position in shares of Universal Display Corporation (NASDAQ:OLED) by 18.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 606,472 shares of the semiconductor company’s stock after buying an additional 93,223 shares during the quarter. Neuberger Berman Group LLC owned approximately 1.29% of Universal Display Corporation worth $66,257,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Strs Ohio grew its holdings in Universal Display Corporation by 115.4% in the 1st quarter. Strs Ohio now owns 5,600 shares of the semiconductor company’s stock valued at $482,000 after buying an additional 3,000 shares during the period. Russell Investments Group Ltd. grew its holdings in Universal Display Corporation by 292.4% in the 1st quarter. Russell Investments Group Ltd. now owns 66,412 shares of the semiconductor company’s stock valued at $5,717,000 after buying an additional 49,488 shares during the period. Great West Life Assurance Co. Can grew its holdings in shares of Universal Display Corporation by 26.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 4,848 shares of the semiconductor company’s stock worth $416,000 after purchasing an additional 1,000 shares during the period. Eqis Capital Management Inc. grew its holdings in shares of Universal Display Corporation by 0.4% during the 1st quarter. Eqis Capital Management Inc. now owns 4,408 shares of the semiconductor company’s stock worth $380,000 after purchasing an additional 18 shares during the period. Finally, HPM Partners LLC purchased a new stake in shares of Universal Display Corporation during the 1st quarter worth about $263,000. 64.31% of the stock is owned by hedge funds and other institutional investors.
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In other Universal Display Corporation news, insider Julia J. Brown sold 10,000 shares of Universal Display Corporation stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the completion of the transaction, the insider now owns 162,932 shares in the company, valued at approximately $20,366,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven V. Abramson sold 18,000 shares of Universal Display Corporation stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $124.53, for a total value of $2,241,540.00. Following the transaction, the chief executive officer now owns 262,888 shares of the company’s stock, valued at approximately $32,737,442.64. The disclosure for this sale can be found here. Company insiders own 5.70% of the company’s stock.
A number of analysts have recently issued reports on the company. Cowen and Company reaffirmed a “buy” rating and issued a $140.00 target price on shares of Universal Display Corporation in a research report on Friday, September 8th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $150.00 target price on shares of Universal Display Corporation in a research report on Tuesday, September 5th. Deutsche Bank AG began coverage on Universal Display Corporation in a research report on Wednesday, August 30th. They issued a “buy” rating and a $135.00 target price on the stock. BidaskClub raised Universal Display Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Finally, Zacks Investment Research raised Universal Display Corporation from a “hold” rating to a “strong-buy” rating and set a $136.00 target price on the stock in a research report on Thursday, August 10th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Universal Display Corporation presently has a consensus rating of “Buy” and an average price target of $119.89.
Shares of Universal Display Corporation (OLED) traded up 0.08% on Friday, reaching $132.05. The company had a trading volume of 821,396 shares. The firm has a market capitalization of $6.21 billion, a PE ratio of 76.55 and a beta of 0.98. The company’s 50-day moving average is $119.55 and its 200 day moving average is $106.78. Universal Display Corporation has a 12 month low of $47.88 and a 12 month high of $134.89.
Universal Display Corporation (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.31. Universal Display Corporation had a return on equity of 14.90% and a net margin of 31.15%. The firm had revenue of $102.50 million during the quarter, compared to the consensus estimate of $84.81 million. During the same period last year, the business posted $0.46 EPS. The business’s revenue was up 59.2% compared to the same quarter last year. Equities analysts forecast that Universal Display Corporation will post $2.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, September 30th. Stockholders of record on Friday, September 15th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.09%. Universal Display Corporation’s dividend payout ratio is presently 6.94%.
About Universal Display Corporation
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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