Migdal Insurance & Financial Holdings Ltd. decreased its holdings in Universal Display Co. (NASDAQ:OLED – Free Report) by 55.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 645 shares of the semiconductor company’s stock after selling 807 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Universal Display were worth $91,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in OLED. WealthPLAN Partners LLC purchased a new position in shares of Universal Display during the 1st quarter worth $31,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Universal Display in the first quarter worth $93,000. Avalon Trust Co bought a new stake in shares of Universal Display during the 1st quarter valued at $88,000. Harbor Capital Advisors Inc. bought a new stake in shares of Universal Display during the 2nd quarter valued at $84,000. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Universal Display by 604.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,000 shares of the semiconductor company’s stock valued at $167,000 after buying an additional 858 shares in the last quarter. 75.92% of the stock is currently owned by institutional investors.
Insider Activity at Universal Display
In other news, SVP Mauro Premutico sold 9,351 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $161.17, for a total transaction of $1,507,100.67. Following the completion of the transaction, the senior vice president now directly owns 33,220 shares of the company’s stock, valued at approximately $5,354,067.40. The sale was disclosed in a filing with the SEC, which is available at this link. In other Universal Display news, SVP Mauro Premutico sold 9,351 shares of Universal Display stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $161.17, for a total transaction of $1,507,100.67. Following the sale, the senior vice president now owns 33,220 shares of the company’s stock, valued at approximately $5,354,067.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard C. Elias sold 2,000 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $157.68, for a total transaction of $315,360.00. Following the completion of the sale, the director now owns 5,767 shares of the company’s stock, valued at $909,340.56. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
Universal Display Price Performance
NASDAQ OLED opened at $156.15 on Thursday. The stock’s fifty day moving average price is $155.35 and its 200 day moving average price is $147.92. Universal Display Co. has a 1 year low of $89.41 and a 1 year high of $166.57. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 35.90, a PEG ratio of 2.59 and a beta of 1.28.
Universal Display (NASDAQ:OLED – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.29. Universal Display had a net margin of 34.31% and a return on equity of 16.24%. The company had revenue of $146.57 million for the quarter, compared to the consensus estimate of $128.60 million. During the same quarter in the prior year, the company earned $0.87 EPS. Universal Display’s quarterly revenue was up 7.3% on a year-over-year basis. Research analysts expect that Universal Display Co. will post 3.96 earnings per share for the current year.
Universal Display Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Thursday, September 14th. Universal Display’s dividend payout ratio (DPR) is 32.18%.
Analyst Upgrades and Downgrades
OLED has been the topic of a number of recent analyst reports. StockNews.com began coverage on Universal Display in a report on Thursday, August 17th. They set a “hold” rating on the stock. The Goldman Sachs Group upped their price target on Universal Display from $168.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Needham & Company LLC reissued a “buy” rating and issued a $175.00 target price on shares of Universal Display in a report on Wednesday, September 13th. TD Cowen upped their target price on shares of Universal Display from $150.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. Finally, Citigroup raised their target price on shares of Universal Display from $150.00 to $182.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Universal Display has an average rating of “Moderate Buy” and a consensus price target of $167.22.
Check Out Our Latest Stock Analysis on OLED
Universal Display Company Profile
(Free Report)
Universal Display Corporation engages 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 offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.
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