Vanguard Group Inc. boosted its stake in Universal Display Corp. (NASDAQ:OLED) by 2.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,082,130 shares of the company’s stock after buying an additional 75,002 shares during the period. Vanguard Group Inc. owned approximately 6.58% of Universal Display Corp. worth $208,968,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Frontier Capital Management Co. LLC raised its stake in Universal Display Corp. by 89.4% in the second quarter. Frontier Capital Management Co. LLC now owns 1,358,477 shares of the company’s stock valued at $92,105,000 after buying an additional 641,396 shares during the last quarter. KEYWISE CAPITAL MANAGEMENT Ltd acquired a new stake in Universal Display Corp. during the second quarter worth $35,337,000. Eagle Asset Management Inc. acquired a new stake in Universal Display Corp. during the second quarter worth $22,395,000. Quentec Asset Management LLC raised its stake in Universal Display Corp. by 97.8% in the first quarter. Quentec Asset Management LLC now owns 309,458 shares of the company’s stock worth $16,742,000 after buying an additional 153,000 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. raised its stake in Universal Display Corp. by 33.4% in the second quarter. NN Investment Partners Holdings N.V. now owns 500,491 shares of the company’s stock worth $33,934,000 after buying an additional 125,319 shares during the last quarter. 67.42% of the stock is currently owned by institutional investors and hedge funds.
Universal Display Corp. (NASDAQ:OLED) opened at 49.22 on Monday. Universal Display Corp. has a 12 month low of $33.06 and a 12 month high of $74.39. The company’s 50-day moving average price is $56.80 and its 200 day moving average price is $61.48. 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. (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ 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 firm’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 earnings per share. On average, analysts forecast that Universal Display Corp. will post $0.88 earnings per share for the current fiscal year.
OLED has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $69.00 target price on shares of Universal Display Corp. in a research note on Wednesday, June 29th. Cowen and Company reissued a “buy” rating on shares of Universal Display Corp. in a research report on Wednesday, June 29th. Canaccord Genuity reissued a “hold” rating on shares of Universal Display Corp. in a research report on Tuesday, June 28th. Zacks Investment Research downgraded Universal Display Corp. from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 13th. Finally, Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Universal Display Corp. in a research report on Monday, August 8th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $59.50.
In other Universal Display Corp. news, Director Leonard Becker sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $61.11, for a total transaction of $305,550.00. Following the completion of the sale, the director now directly owns 19,650 shares of the company’s stock, valued at approximately $1,200,811.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.70% of the company’s stock.
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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