Universal Display Corporation $OLED Stake Lessened by General American Investors Co. Inc.

General American Investors Co. Inc. lessened its position in shares of Universal Display Corporation (NASDAQ:OLED) by 51.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,009 shares of the semiconductor company’s stock after selling 30,000 shares during the quarter. General American Investors Co. Inc.’s holdings in Universal Display were worth $2,158,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of OLED. Heritage Family Offices LLP purchased a new stake in shares of Universal Display during the third quarter worth approximately $27,000. Pension & Wealth Management Advisors Inc. purchased a new position in Universal Display during the 3rd quarter valued at about $28,000. NFSG Corp purchased a new position in shares of Universal Display during the 3rd quarter worth approximately $31,000. Elevation Wealth Partners LLC purchased a new stake in shares of Universal Display in the third quarter valued at $51,000. Finally, Versant Capital Management Inc boosted its stake in shares of Universal Display by 347.8% during the 3rd quarter. Versant Capital Management Inc now owns 703 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 546 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Price Performance

Shares of Universal Display stock traded up $1.18 during trading on Friday, hitting $88.31. The stock had a trading volume of 560,771 shares, compared to its average volume of 863,677. Universal Display Corporation has a fifty-two week low of $70.77 and a fifty-two week high of $134.60. The business has a fifty day moving average of $81.00 and a two-hundred day moving average of $91.44. The firm has a market cap of $3.98 billion, a P/E ratio of 17.91 and a beta of 1.51.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Wednesday, October 28th. The semiconductor company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.13 by $0.10. Universal Display had a net margin of 36.74% and a return on equity of 12.20%. The business had revenue of $160.43 million during the quarter, compared to the consensus estimate of $162.72 million. During the same quarter in the prior year, the firm earned $0.92 EPS. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, research analysts forecast that Universal Display Corporation will post 4.43 earnings per share for the current year.

Universal Display Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 17th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, December 17th. Universal Display’s payout ratio is 40.57%.

Wall Street Analysts Forecast Growth

OLED has been the subject of a number of research analyst reports. Zacks Research raised shares of Universal Display from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. BTIG Research lowered Universal Display to a “neutral” rating in a research note on Friday, July 31st. Susquehanna boosted their price objective on shares of Universal Display from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, October 29th. Needham & Company LLC decreased their price target on shares of Universal Display from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Universal Display in a research note on Monday, October 26th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Universal Display has a consensus rating of “Hold” and an average price target of $114.00.

Universal Display Company Profile

Universal Display Corporation (NASDAQ: OLED) develops and commercializes technologies and materials used in organic light-emitting diode (OLED) displays and lighting. The company’s portfolio includes phosphorescent OLED (PHOLED) materials, which are designed to improve display efficiency, along with OLED research, development and manufacturing technologies.

Universal Display supplies OLED emitter materials and related products to display manufacturers and licenses its intellectual property and technology.