Granite Point Capital Management L.P. lowered its holdings in Universal Display Corporation (NASDAQ:OLED) by 16.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,000 shares of the semiconductor company’s stock after selling 1,000 shares during the quarter. Granite Point Capital Management L.P.’s holdings in Universal Display Corporation were worth $546,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OLED. Strs Ohio increased its holdings in shares of Universal Display Corporation by 115.4% in the 1st quarter. Strs Ohio now owns 5,600 shares of the semiconductor company’s stock valued at $482,000 after acquiring an additional 3,000 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Universal Display Corporation by 292.4% in the 1st quarter. Russell Investments Group Ltd. now owns 66,412 shares of the semiconductor company’s stock valued at $5,717,000 after acquiring an additional 49,488 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of Universal Display Corporation by 26.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 4,848 shares of the semiconductor company’s stock valued at $416,000 after acquiring an additional 1,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Universal Display Corporation by 40.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,534 shares of the semiconductor company’s stock valued at $476,000 after purchasing an additional 1,605 shares during the period. Finally, Swiss National Bank boosted its position in shares of Universal Display Corporation by 0.7% in the 1st quarter. Swiss National Bank now owns 69,900 shares of the semiconductor company’s stock valued at $6,018,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 64.31% of the company’s stock.

In related news, insider Julia J. Brown sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $125.00, for a total value of $1,250,000.00. Following the completion of the sale, the insider now directly owns 162,932 shares in the company, valued at $20,366,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven V. Abramson sold 18,000 shares of the company’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $124.53, for a total transaction of $2,241,540.00. Following the completion of the sale, the chief executive officer now owns 262,888 shares of the company’s stock, valued at $32,737,442.64. The disclosure for this sale can be found here. 5.70% of the stock is owned by insiders.

A number of analysts recently issued reports on OLED shares. Zacks Investment Research raised Universal Display Corporation from a “hold” rating to a “strong-buy” rating and set a $134.00 target price for the company in a research report on Wednesday, May 17th. BidaskClub raised Universal Display Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 9th. Susquehanna Bancshares Inc reissued a “positive” rating on shares of Universal Display Corporation in a research report on Thursday, July 13th. Summit Redstone reissued a “hold” rating and issued a $95.00 target price on shares of Universal Display Corporation in a research report on Tuesday, August 1st. Finally, Cowen and Company reissued an “outperform” rating and issued a $130.00 target price on shares of Universal Display Corporation in a research report on Tuesday, August 1st. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $119.89.

Universal Display Corporation (NASDAQ OLED) traded down 0.08% during trading on Thursday, reaching $132.25. The company had a trading volume of 208,932 shares. The company has a 50-day moving average of $118.78 and a 200-day moving average of $106.09. Universal Display Corporation has a 52-week low of $47.88 and a 52-week high of $134.89. The firm has a market capitalization of $6.22 billion, a P/E ratio of 76.67 and a beta of 0.98.

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

The company also recently announced a quarterly dividend, which will be paid on Saturday, September 30th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.09%. The ex-dividend date is Thursday, September 14th. Universal Display Corporation’s dividend payout ratio (DPR) is currently 6.94%.

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About Universal Display Corporation

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.

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

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