Parsons Capital Management Inc. RI Has $2.39 Million Stock Position in Universal Display Co. (NASDAQ:OLED)

Parsons Capital Management Inc. RI raised its position in shares of Universal Display Co. (NASDAQ:OLED) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,728 shares of the semiconductor company’s stock after purchasing an additional 105 shares during the period. Parsons Capital Management Inc. RI’s holdings in Universal Display were worth $2,394,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. EP Wealth Advisors LLC acquired a new position in Universal Display during the first quarter valued at approximately $317,000. Geode Capital Management LLC raised its position in Universal Display by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 431,907 shares of the semiconductor company’s stock valued at $40,413,000 after purchasing an additional 32,314 shares in the last quarter. Jackson Wealth Management LLC acquired a new position in Universal Display during the first quarter valued at approximately $4,586,000. Foundry Partners LLC acquired a new position in Universal Display during the second quarter valued at approximately $239,000. Finally, SG Americas Securities LLC raised its position in Universal Display by 240.5% during the first quarter. SG Americas Securities LLC now owns 19,169 shares of the semiconductor company’s stock valued at $2,930,000 after purchasing an additional 13,539 shares in the last quarter. Institutional investors and hedge funds own 75.79% of the company’s stock.

Shares of NASDAQ OLED traded up $0.52 during midday trading on Thursday, reaching $207.27. 9,534 shares of the company were exchanged, compared to its average volume of 728,932. The company’s 50-day moving average price is $202.41. The stock has a market capitalization of $9.90 billion, a PE ratio of 167.15, a P/E/G ratio of 2.61 and a beta of 1.53. Universal Display Co. has a one year low of $78.78 and a one year high of $218.28.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, August 1st. The semiconductor company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.46. The firm had revenue of $118.17 million for the quarter, compared to analysts’ expectations of $79.26 million. Universal Display had a net margin of 33.08% and a return on equity of 16.52%. The company’s revenue was up 110.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Analysts anticipate that Universal Display Co. will post 2.68 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.19%. Universal Display’s payout ratio is presently 32.26%.

In related news, CFO Sidney D. Rosenblatt sold 33,930 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $182.23, for a total value of $6,183,063.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director C Keith Hartley sold 10,528 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $214.27, for a total transaction of $2,255,834.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 177,801 shares of company stock worth $34,646,297. Insiders own 3.70% of the company’s stock.

Several research analysts have commented on OLED shares. Oppenheimer downgraded shares of Universal Display from an “outperform” rating to a “market perform” rating and set a $190.50 price objective for the company. in a research report on Wednesday, July 10th. They noted that the move was a valuation call. Roth Capital boosted their price objective on shares of Universal Display from $172.00 to $206.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. ValuEngine downgraded shares of Universal Display from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 2nd. Berenberg Bank began coverage on shares of Universal Display in a research report on Wednesday, July 24th. They set a “hold” rating and a $192.00 price objective for the company. Finally, Citigroup boosted their target price on shares of Universal Display from $180.00 to $223.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Universal Display currently has an average rating of “Buy” and a consensus price target of $182.46.

About Universal Display

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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