Investment Centers of America Inc. Takes $219,000 Position in Universal Display Corporation (OLED)
Investment Centers of America Inc. acquired a new stake in Universal Display Corporation (NASDAQ:OLED) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,702 shares of the semiconductor company’s stock, valued at approximately $219,000.
Several other large investors have also made changes to their positions in OLED. Mitra Capital LLC purchased a new stake in shares of Universal Display in the second quarter valued at $109,000. IFP Advisors Inc grew its position in shares of Universal Display by 307.5% in the second quarter. IFP Advisors Inc now owns 1,080 shares of the semiconductor company’s stock valued at $118,000 after purchasing an additional 815 shares during the period. BNP Paribas Arbitrage SA grew its position in shares of Universal Display by 79.4% in the second quarter. BNP Paribas Arbitrage SA now owns 1,536 shares of the semiconductor company’s stock valued at $168,000 after purchasing an additional 680 shares during the period. Daiwa Securities Group Inc. purchased a new stake in shares of Universal Display in the second quarter valued at $197,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Universal Display in the third quarter valued at $205,000. 64.96% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently commented on OLED shares. Zacks Investment Research raised Universal Display from a “hold” rating to a “strong-buy” rating and set a $168.00 price objective for the company in a research report on Thursday, November 2nd. Susquehanna Bancshares reissued a “positive” rating and set a $150.00 price target on shares of Universal Display in a research report on Tuesday, September 5th. Deutsche Bank initiated coverage on Universal Display in a research report on Wednesday, August 30th. They set a “buy” rating and a $135.00 price target for the company. Gabelli downgraded Universal Display from a “buy” rating to a “hold” rating and set a $134.00 price target for the company. in a research report on Friday, November 3rd. Finally, Cowen reissued a “buy” rating and set a $140.00 price target on shares of Universal Display in a research report on Friday, September 8th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $151.30.
In other Universal Display news, CFO Sidney D. Rosenblatt sold 50,240 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $135.02, for a total transaction of $6,783,404.80. 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 business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $166.04, for a total value of $2,739,660.00. Following the transaction, the director now owns 350,000 shares in the company, valued at approximately $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 currently owned by insiders.
Shares of Universal Display Corporation (NASDAQ OLED) opened at $176.70 on Friday. Universal Display Corporation has a 1 year low of $53.65 and a 1 year high of $192.75. The stock has a market capitalization of $8,514.35, a PE ratio of 88.72 and a beta of 1.05.
Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.19. The company had revenue of $61.70 million for the quarter, compared to analysts’ expectations of $47.35 million. Universal Display had a return on equity of 16.67% and a net margin of 32.92%. The firm’s quarterly revenue was up 104.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. analysts anticipate that Universal Display Corporation will post 2.33 earnings per share for the current fiscal year.
The business also recently disclosed 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 dividend yield of 0.07%. The ex-dividend date is Thursday, December 14th. Universal Display’s dividend payout ratio is presently 5.88%.
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Universal Display 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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