Universal Display Co. (OLED) Holdings Trimmed by Tdam USA Inc.

Tdam USA Inc. lowered its stake in shares of Universal Display Co. (NASDAQ:OLED) by 10.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,012 shares of the semiconductor company’s stock after selling 6,826 shares during the period. Tdam USA Inc.’s holdings in Universal Display were worth $8,867,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of OLED. BlackRock Inc. lifted its stake in shares of Universal Display by 108.6% in the fourth quarter. BlackRock Inc. now owns 3,754,887 shares of the semiconductor company’s stock worth $351,345,000 after buying an additional 1,954,515 shares during the last quarter. Norges Bank purchased a new stake in Universal Display during the 4th quarter worth about $40,599,000. Bank of New York Mellon Corp lifted its holdings in Universal Display by 178.8% during the 4th quarter. Bank of New York Mellon Corp now owns 455,871 shares of the semiconductor company’s stock worth $42,656,000 after purchasing an additional 292,382 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Universal Display by 29.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,023,098 shares of the semiconductor company’s stock worth $120,623,000 after purchasing an additional 230,534 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Universal Display by 7,230.1% during the 4th quarter. Principal Financial Group Inc. now owns 182,374 shares of the semiconductor company’s stock worth $17,065,000 after purchasing an additional 179,886 shares in the last quarter. 82.56% of the stock is currently owned by institutional investors.

OLED has been the topic of several recent research reports. Zacks Investment Research lowered Universal Display from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Citigroup lifted their price objective on 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 target price on Universal Display and gave the company a “buy” rating in a research note on Friday, May 3rd. Susquehanna Bancshares restated a “neutral” rating and issued a $180.00 target price on shares of Universal Display in a research note on Monday, April 29th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $200.00 price objective (up previously from $140.00) on shares of Universal Display in a research note on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Universal Display has a consensus rating of “Buy” and an average price target of $160.44.

In other Universal Display news, VP Janice K. Mahon sold 20,819 shares of Universal Display stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $170.24, for a total value of $3,544,226.56. Following the completion of the sale, the vice president now owns 37,039 shares of the company’s stock, valued at approximately $6,305,519.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lawrence Lacerte sold 7,500 shares of Universal Display stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $165.57, for a total value of $1,241,775.00. Following the completion of the sale, the director now directly owns 320,518 shares of the company’s stock, valued at approximately $53,068,165.26. The disclosure for this sale can be found here. In the last three months, insiders sold 57,783 shares of company stock valued at $9,450,717. Corporate insiders own 3.70% of the company’s stock.

NASDAQ:OLED traded down $4.69 during trading hours on Monday, reaching $157.38. 13,293 shares of the company traded hands, compared to its average volume of 1,045,589. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 126.88, 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 announced its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.40. The business had revenue of $87.80 million during the quarter, compared to analysts’ expectations of $64.59 million. Universal Display had a return on equity of 12.35% and a net margin of 28.93%. The firm’s quarterly revenue was up 101.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 earnings per share. Sell-side analysts predict that Universal Display Co. will post 2.44 EPS for the current fiscal year.

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

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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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