Teacher Retirement System of Texas boosted its position in Universal Display Corp. (NASDAQ:OLED) by 16.1% during the second quarter, Holdings Channel reports. The firm owned 5,908 shares of the company’s stock after buying an additional 819 shares during the period. Teacher Retirement System of Texas’ holdings in Universal Display Corp. were worth $401,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its stake 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 valued at $111,000 after buying an additional 1,607 shares during the last quarter. Societe Generale acquired a new stake in shares of Universal Display Corp. during the second quarter valued at approximately $117,000. BlackRock Inc. increased its stake 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 valued at $162,000 after buying an additional 1,197 shares in the last quarter. Pictet Asset Management Ltd. acquired a new stake in shares of Universal Display Corp. during the first quarter valued at approximately $171,000. Finally, Thompson Davis & CO. Inc. increased its stake in shares of Universal Display Corp. by 1,000.0% in the second quarter. Thompson Davis & CO. Inc. now owns 2,750 shares of the company’s stock valued at $186,000 after buying an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 67.54% of the company’s stock.
Universal Display Corp. (NASDAQ:OLED) opened at 53.38 on Monday. The stock’s 50 day moving average price is $58.22 and its 200 day moving average price is $61.60. The company has a market capitalization of $2.51 billion, a PE ratio of 52.13 and a beta of 1.06. Universal Display Corp. has a 12-month low of $33.06 and a 12-month high of $74.39.
Universal Display Corp. (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by $0.04. The business earned $64.40 million during the quarter, compared to the consensus estimate of $68.68 million. Universal Display Corp. had a return on equity of 10.15% and a net margin of 24.96%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the firm earned $0.41 EPS. On average, equities analysts anticipate that Universal Display Corp. will post $0.88 EPS for the current fiscal year.
Several brokerages have commented on OLED. Canaccord Genuity began coverage on Universal Display Corp. in a research note on Friday, September 23rd. They set a “hold” rating and a $51.00 target price on the stock. Needham & Company LLC downgraded Universal Display Corp. from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Universal Display Corp. in a research note on Thursday, June 16th. TheStreet upgraded Universal Display Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 10th. Finally, Zacks Investment Research downgraded Universal Display Corp. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 13th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $57.83.
In related news, Director Leonard Becker sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The shares were 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 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 accessible through this link. 5.70% of the stock is currently 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.
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.