Columbus Circle Investors Raises Position in Universal Display Corporation (OLED)
Columbus Circle Investors grew its stake in Universal Display Corporation (NASDAQ:OLED) by 24.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 843,537 shares of the semiconductor company’s stock after buying an additional 163,569 shares during the period. Universal Display Corporation makes up about 1.9% of Columbus Circle Investors’ holdings, making the stock its 6th biggest holding. Columbus Circle Investors owned 1.79% of Universal Display Corporation worth $108,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in Universal Display Corporation by 33.4% during the 1st quarter. Bank of America Corp DE now owns 72,951 shares of the semiconductor company’s stock valued at $6,281,000 after buying an additional 18,272 shares during the last quarter. BKS Advisors LLC purchased a new position in Universal Display Corporation during the 2nd quarter valued at $2,318,000. Westwood Management Corp IL increased its position in Universal Display Corporation by 70.0% during the 2nd quarter. Westwood Management Corp IL now owns 17,000 shares of the semiconductor company’s stock valued at $1,857,000 after purchasing an additional 7,000 shares during the period. Balyasny Asset Management LLC purchased a new position in Universal Display Corporation during the 2nd quarter valued at $3,673,000. Finally, Neuberger Berman Group LLC increased its position in Universal Display Corporation by 18.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 606,472 shares of the semiconductor company’s stock valued at $66,257,000 after purchasing an additional 93,223 shares during the period. 64.20% of the stock is owned by institutional investors and hedge funds.
In other Universal Display Corporation news, Director Rosemarie B. Greco sold 1,250 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $168.63, for a total transaction of $210,787.50. Following the completion of the sale, the director now directly owns 12,800 shares of the company’s stock, valued at approximately $2,158,464. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lawrence Lacerte sold 16,500 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $166.04, for a total transaction of $2,739,660.00. Following the sale, the director now directly owns 350,000 shares of the company’s stock, valued at $58,114,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,974 shares of company stock worth $30,133,174. 5.20% of the stock is owned by company insiders.
A number of analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Universal Display Corporation from a “hold” rating to a “buy” rating and set a $198.00 target price on the stock in a research report on Wednesday. Cowen and Company reaffirmed an “outperform” rating and issued a $195.00 target price (up from $155.00) on shares of Universal Display Corporation in a research report on Friday, November 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Universal Display Corporation in a research report on Friday, November 3rd. Gabelli downgraded shares of Universal Display Corporation from a “buy” rating to a “hold” rating and set a $134.00 target price on the stock. in a research report on Friday, November 3rd. Finally, Deutsche Bank AG upped their target price on shares of Universal Display Corporation to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Universal Display Corporation presently has a consensus rating of “Hold” and a consensus target price of $143.11.
Shares of Universal Display Corporation (NASDAQ:OLED) traded up $6.40 during trading hours on Friday, hitting $179.25. 773,700 shares of the stock traded hands, compared to its average volume of 822,665. Universal Display Corporation has a 52-week low of $52.10 and a 52-week high of $179.90. The company has a market cap of $8,550.00, a PE ratio of 84.73 and a beta of 1.03.
Universal Display Corporation (NASDAQ:OLED) last released its earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.19. Universal Display Corporation had a net margin of 32.92% and a return on equity of 16.67%. The company had revenue of $61.70 million for the quarter, compared to analysts’ expectations of $47.35 million. During the same quarter last year, the business earned ($0.03) EPS. The firm’s revenue was up 104.3% compared to the same quarter last year. sell-side analysts anticipate that Universal Display Corporation will post 2.33 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.07%. The ex-dividend date of this dividend is Thursday, December 14th. Universal Display Corporation’s payout ratio is 5.74%.
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Universal Display Corporation 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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