Turner Investments LLC Sells 900 Shares of Universal Display Corporation (OLED)

Turner Investments LLC lowered its position in Universal Display Corporation (NASDAQ:OLED) by 25.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,600 shares of the semiconductor company’s stock after selling 900 shares during the quarter. Universal Display Corporation accounts for approximately 1.5% of Turner Investments LLC’s holdings, making the stock its 23rd biggest holding. Turner Investments LLC’s holdings in Universal Display Corporation were worth $335,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Pacer Advisors Inc. lifted its holdings in Universal Display Corporation by 44.1% in the 3rd quarter. Pacer Advisors Inc. now owns 7,415 shares of the semiconductor company’s stock worth $955,000 after buying an additional 2,271 shares in the last quarter. Chartwell Investment Partners LLC lifted its holdings in Universal Display Corporation by 48.0% in the 3rd quarter. Chartwell Investment Partners LLC now owns 28,633 shares of the semiconductor company’s stock worth $3,689,000 after buying an additional 9,290 shares in the last quarter. Columbus Circle Investors lifted its holdings in Universal Display Corporation by 24.1% in the 3rd quarter. Columbus Circle Investors now owns 843,537 shares of the semiconductor company’s stock worth $108,690,000 after buying an additional 163,569 shares in the last quarter. Commonwealth Equity Services Inc lifted its holdings in Universal Display Corporation by 28.6% in the 3rd quarter. Commonwealth Equity Services Inc now owns 18,907 shares of the semiconductor company’s stock worth $2,436,000 after buying an additional 4,204 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Universal Display Corporation in the 3rd quarter worth $241,000. Hedge funds and other institutional investors own 64.58% of the company’s stock.

In related news, Director Rosemarie B. Greco sold 1,250 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $168.63, for a total transaction of $210,787.50. Following the completion of the sale, the director now owns 12,800 shares of the company’s stock, valued at approximately $2,158,464. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lawrence Lacerte sold 16,500 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $166.04, for a total transaction of $2,739,660.00. Following the sale, the director now directly owns 350,000 shares of the company’s stock, valued at approximately $58,114,000. The disclosure for this sale can be found here. Insiders sold a total of 196,974 shares of company stock valued at $30,133,174 in the last three months. Insiders own 5.20% of the company’s stock.

A number of equities analysts have commented on the stock. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $150.00 price objective (up previously from $140.00) on shares of Universal Display Corporation in a report on Wednesday, August 9th. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $150.00 price objective (up previously from $120.00) on shares of Universal Display Corporation in a report on Wednesday, August 9th. Cowen and Company reiterated an “outperform” rating and issued a $195.00 price objective (up previously from $155.00) on shares of Universal Display Corporation in a report on Friday, November 10th. Zacks Investment Research upgraded shares of Universal Display Corporation from a “hold” rating to a “buy” rating and set a $198.00 price objective on the stock in a report on Wednesday, November 15th. Finally, Summit Redstone reiterated a “hold” rating and issued a $95.00 price objective on shares of Universal Display Corporation in a report on Tuesday, August 1st. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $143.11.

Universal Display Corporation (NASDAQ OLED) traded up $3.68 on Tuesday, hitting $185.18. 392,001 shares of the stock traded hands, compared to its average volume of 821,546. The company has a market cap of $8,540.00, a P/E ratio of 88.72 and a beta of 1.03. Universal Display Corporation has a one year low of $52.10 and a one year high of $184.40.

Universal Display Corporation (NASDAQ:OLED) last released its earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.19. The company had revenue of $61.70 million during the quarter, compared to the consensus estimate of $47.35 million. Universal Display Corporation had a net margin of 32.92% and a return on equity of 16.67%. The company’s revenue was up 104.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.03) EPS. analysts anticipate that Universal Display Corporation will post 2.33 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.06%. The ex-dividend date is Thursday, December 14th. Universal Display Corporation’s payout ratio is currently 5.74%.

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Universal Display Corporation 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.

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

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