Quantamental Technologies LLC Takes $533,000 Position in Universal Display Co. (NASDAQ:OLED)

Quantamental Technologies LLC bought a new position in shares of Universal Display Co. (NASDAQ:OLED) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,489 shares of the semiconductor company’s stock, valued at approximately $533,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of OLED. BlackRock Inc. lifted its holdings in Universal Display by 108.6% in the fourth quarter. BlackRock Inc. now owns 3,754,887 shares of the semiconductor company’s stock valued at $351,345,000 after buying an additional 1,954,515 shares during the period. Vanguard Group Inc. raised its holdings in shares of Universal Display by 2.4% during the third quarter. Vanguard Group Inc. now owns 3,698,321 shares of the semiconductor company’s stock valued at $436,031,000 after purchasing an additional 86,819 shares during the period. Vanguard Group Inc increased its position in shares of Universal Display by 2.4% during the third quarter. Vanguard Group Inc now owns 3,698,321 shares of the semiconductor company’s stock worth $436,031,000 after acquiring an additional 86,819 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of Universal Display by 4.4% during the third quarter. Neuberger Berman Group LLC now owns 1,698,261 shares of the semiconductor company’s stock worth $200,225,000 after acquiring an additional 71,847 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Universal Display by 29.1% during the third quarter. JPMorgan Chase & Co. now owns 1,023,098 shares of the semiconductor company’s stock worth $120,623,000 after acquiring an additional 230,534 shares in the last quarter. 82.56% of the stock is currently owned by hedge funds and other institutional investors.

Shares of OLED stock traded down $2.47 during trading on Wednesday, reaching $160.37. 289,966 shares of the company’s stock traded hands, compared to its average volume of 840,753. The stock has a market capitalization of $7.65 billion, a P/E ratio of 129.33, a PEG ratio of 2.21 and a beta of 1.41. Universal Display Co. has a 1 year low of $78.75 and a 1 year high of $190.00.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, May 2nd. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.40. Universal Display had a net margin of 28.93% and a return on equity of 12.35%. The business had revenue of $87.80 million for the quarter, compared to analysts’ expectations of $64.59 million. During the same period in the prior year, the company posted $0.13 EPS. The business’s revenue for the quarter was up 101.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Universal Display Co. will post 2.44 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, June 13th. Universal Display’s dividend payout ratio is presently 32.26%.

In other news, Director Richard C. Elias sold 1,250 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $153.38, for a total transaction of $191,725.00. Following the sale, the director now owns 1,250 shares in the company, valued at approximately $191,725. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lawrence Lacerte sold 7,500 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $165.57, for a total transaction of $1,241,775.00. Following the transaction, the director now directly owns 320,518 shares in the company, valued at approximately $53,068,165.26. The disclosure for this sale can be found here. Insiders sold a total of 57,783 shares of company stock worth $9,450,717 over the last quarter. Corporate insiders own 3.70% of the company’s stock.

Several research firms have recently commented on OLED. Zacks Investment Research downgraded shares of Universal Display from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Citigroup upped their price objective on shares of Universal Display from $140.00 to $180.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. Roth Capital set a $194.00 price objective on shares of Universal Display and gave the stock a “buy” rating in a research report on Friday, May 3rd. Susquehanna Bancshares reaffirmed a “neutral” rating and issued a $180.00 price objective on shares of Universal Display in a research report on Monday, April 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $200.00 price objective (up from $140.00) on shares of Universal Display in a research report on Friday, May 3rd. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Universal Display presently has an average rating of “Buy” and an average target price of $160.44.

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Universal Display Company Profile

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in flat panel displays and solid-state lighting applications. As of February 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.

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

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