First Mercantile Trust Co. cut its position in Universal Display Corporation (NASDAQ:OLED) by 22.7% during the second quarter, Holdings Channel reports. The firm owned 17,049 shares of the semiconductor company’s stock after selling 5,018 shares during the period. First Mercantile Trust Co.’s holdings in Universal Display Corporation were worth $1,862,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OLED. Eqis Capital Management Inc. raised its position in Universal Display Corporation by 0.4% in the first quarter. Eqis Capital Management Inc. now owns 4,408 shares of the semiconductor company’s stock worth $380,000 after buying an additional 18 shares during the period. Atlantic Trust LLC raised its position in Universal Display Corporation by 0.7% in the first quarter. Atlantic Trust LLC now owns 3,735 shares of the semiconductor company’s stock worth $322,000 after buying an additional 25 shares during the period. Parallel Advisors LLC raised its position in Universal Display Corporation by 1.8% in the first quarter. Parallel Advisors LLC now owns 2,716 shares of the semiconductor company’s stock worth $246,000 after buying an additional 47 shares during the period. Prudential Financial Inc. raised its position in Universal Display Corporation by 2.9% in the first quarter. Prudential Financial Inc. now owns 4,616 shares of the semiconductor company’s stock worth $397,000 after buying an additional 130 shares during the period. Finally, Duncker Streett & Co. Inc. raised its position in Universal Display Corporation by 3.8% in the first quarter. Duncker Streett & Co. Inc. now owns 5,400 shares of the semiconductor company’s stock worth $465,000 after buying an additional 200 shares during the period. 69.40% of the stock is currently owned by institutional investors and hedge funds.

Shares of Universal Display Corporation (NASDAQ OLED) opened at 110.45 on Friday. Universal Display Corporation has a 52-week low of $47.88 and a 52-week high of $130.65. The stock’s 50 day moving average is $117.12 and its 200 day moving average is $97.41. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of 64.03 and a beta of 1.05.

Universal Display Corporation (NASDAQ:OLED) last announced its earnings results on Thursday, August 3rd. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.31. Universal Display Corporation had a net margin of 31.15% and a return on equity of 14.90%. The firm had revenue of $102.50 million for the quarter, compared to analyst estimates of $84.81 million. During the same quarter last year, the business earned $0.46 earnings per share. Universal Display Corporation’s revenue was up 59.2% compared to the same quarter last year. On average, equities analysts expect that Universal Display Corporation will post $2.14 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, September 30th. Investors of record on Friday, September 15th will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.11%. Universal Display Corporation’s dividend payout ratio (DPR) is currently 6.94%.

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A number of research firms have weighed in on OLED. Susquehanna Bancshares Inc reissued a “positive” rating and issued a $150.00 target price (up from $120.00) on shares of Universal Display Corporation in a research note on Wednesday. Zacks Investment Research raised shares of Universal Display Corporation from a “hold” rating to a “strong-buy” rating and set a $136.00 target price on the stock in a research note on Thursday. BidaskClub lowered shares of Universal Display Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $150.00 target price (up from $140.00) on shares of Universal Display Corporation in a research note on Wednesday. Finally, Cross Research raised shares of Universal Display Corporation from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research note on Friday, May 5th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $118.00.

In other Universal Display Corporation news, CEO Steven V. Abramson sold 18,000 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $124.53, for a total transaction of $2,241,540.00. Following the transaction, the chief executive officer now owns 262,888 shares of the company’s stock, valued at $32,737,442.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Leonard Becker sold 3,750 shares of the stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $114.24, for a total transaction of $428,400.00. Following the transaction, the director now directly owns 13,750 shares in the company, valued at approximately $1,570,800. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,750 shares of company stock worth $3,919,940. 5.70% of the stock is owned by company insiders.

Universal Display Corporation 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 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.

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

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