Genesee Valley Trust Co. acquired a new position in Universal Display Corp. (NASDAQ:OLED) during the second quarter, Holdings Channel reports. The firm acquired 3,939 shares of the company’s stock, valued at approximately $267,000.
Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its position in Universal Display Corp. by 5,356.7% in the second quarter. BNP Paribas Arbitrage SA now owns 1,637 shares of the company’s stock worth $111,000 after buying an additional 1,607 shares during the period. BlackRock Inc. raised its position in shares of 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 last quarter. Pictet Asset Management Ltd. purchased a new position in shares of Universal Display Corp. during the first quarter worth approximately $171,000. Carnick & Kubik LLC purchased a new position in shares of Universal Display Corp. during the first quarter worth approximately $189,000. Finally, Foundry Partners LLC purchased a new position in shares of Universal Display Corp. during the second quarter worth approximately $203,000. 67.54% of the stock is owned by hedge funds and other institutional investors.
Shares of Universal Display Corp. (NASDAQ:OLED) traded down 5.27% during midday trading on Friday, reaching $58.82. The company’s stock had a trading volume of 679,310 shares. The stock’s 50 day moving average price is $60.03 and its 200 day moving average price is $61.36. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 57.44 and a beta of 0.99. Universal Display Corp. has a one year low of $32.47 and a one year high of $74.39.
Universal Display Corp. (NASDAQ:OLED) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.04. The company had revenue of $64.40 million for the quarter, compared to analysts’ expectations of $68.68 million. Universal Display Corp. had a net margin of 24.96% and a return on equity of 10.15%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 EPS. Analysts predict that Universal Display Corp. will post $0.89 earnings per share for the current year.
A number of equities analysts recently commented on OLED shares. TheStreet raised Universal Display Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 10th. Cowen and Company reissued a “buy” rating on shares of Universal Display Corp. in a research note on Wednesday, June 29th. Needham & Company LLC reissued a “buy” rating and set a $69.00 price target on shares of Universal Display Corp. in a research note on Wednesday, June 29th. Canaccord Genuity started coverage on Universal Display Corp. in a research note on Friday. They set a “hold” rating for the company. Finally, Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Universal Display Corp. in a research note on Thursday, June 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Universal Display Corp. presently has a consensus rating of “Hold” and an average price target of $58.00.
In related news, Director Leonard Becker sold 5,000 shares of Universal Display Corp. stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $61.11, for a total value of $305,550.00. Following the completion of the transaction, the director now owns 19,650 shares in the company, valued at approximately $1,200,811.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.70% of the stock is owned by corporate insiders.
Universal Display Corp. 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 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.
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