JPMorgan Chase & Co. bought a new position in Universal Display Corp. (NASDAQ:OLED) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 67,650 shares of the company’s stock, valued at approximately $4,587,000. JPMorgan Chase & Co. owned about 0.14% of Universal Display Corp. as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Glenmede Trust Co. NA raised its stake in Universal Display Corp. by 0.4% in the first quarter. Glenmede Trust Co. NA now owns 7,440 shares of the company’s stock worth $402,000 after buying an additional 32 shares during the period. PNC Financial Services Group Inc. raised its stake in Universal Display Corp. by 10.8% in the second quarter. PNC Financial Services Group Inc. now owns 8,560 shares of the company’s stock worth $580,000 after buying an additional 831 shares during the period. Royal Bank of Canada raised its stake in Universal Display Corp. by 29.3% in the first quarter. Royal Bank of Canada now owns 4,590 shares of the company’s stock worth $248,000 after buying an additional 1,040 shares during the period. BlackRock Inc. raised its stake in Universal Display Corp. by 66.6% in the first quarter. BlackRock Inc. now owns 2,993 shares of the company’s stock worth $162,000 after buying an additional 1,197 shares during the period. Finally, AMG National Trust Bank raised its stake in Universal Display Corp. by 12.8% in the second quarter. AMG National Trust Bank now owns 11,000 shares of the company’s stock worth $746,000 after buying an additional 1,250 shares during the period. 67.54% of the stock is currently owned by institutional investors and hedge funds.
Universal Display Corp. (NASDAQ:OLED) traded down 1.09% during trading on Friday, hitting $49.22. 421,769 shares of the company traded hands. The stock has a market capitalization of $2.31 billion, a PE ratio of 48.07 and a beta of 1.06. Universal Display Corp. has a 52 week low of $33.06 and a 52 week high of $74.39. The company’s 50 day moving average is $56.80 and its 200-day moving average is $61.48.
Universal Display Corp. (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.50 by $0.04. Universal Display Corp. had a net margin of 24.96% and a return on equity of 10.15%. The firm had revenue of $64.40 million for the quarter, compared to analysts’ expectations of $68.68 million. During the same period in the prior year, the firm earned $0.41 EPS. Universal Display Corp.’s revenue for the quarter was up 10.8% compared to the same quarter last year. Analysts predict that Universal Display Corp. will post $0.88 earnings per share for the current year.
A number of equities analysts have recently commented on OLED shares. TheStreet raised shares of Universal Display Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, August 10th. Cowen and Company set a $75.00 price target on shares of Universal Display Corp. and gave the stock a “buy” rating in a report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $69.00 price target on shares of Universal Display Corp. in a report on Wednesday, June 29th. Canaccord Genuity reissued a “hold” rating on shares of Universal Display Corp. in a report on Tuesday, June 28th. Finally, Zacks Investment Research raised shares of Universal Display Corp. from a “strong sell” rating to a “hold” rating in a report on Thursday, October 6th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Universal Display Corp. has a consensus rating of “Hold” and an average target price of $59.50.
In other Universal Display Corp. news, Director Leonard Becker sold 5,000 shares of Universal Display Corp. stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $61.11, for a total transaction of $305,550.00. Following the transaction, the director now owns 19,650 shares of the company’s stock, valued at $1,200,811.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.70% of the company’s stock.
About Universal Display Corp.
Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in displays for wearables, smartphones, tablets and televisions, as well as solid-state lighting applications. The Company’s flat panel displays are used for various portable consumer electronics products, such as mobile phones, wearables, portable media devices, digital cameras, tablets and notebook computers.
Want to see what other hedge funds are holding OLED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Display Corp. (NASDAQ:OLED).
Receive News & Ratings for Universal Display Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Display Corp. and related companies with MarketBeat.com's FREE daily email newsletter.