Axa raised its holdings in Universal Display Co. (NASDAQ:OLED) by 876.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,927 shares of the semiconductor company’s stock after acquiring an additional 40,327 shares during the quarter. Axa owned about 0.10% of Universal Display worth $7,757,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. US Bancorp DE boosted its stake in Universal Display by 4,188.2% in the fourth quarter. US Bancorp DE now owns 729 shares of the semiconductor company’s stock valued at $126,000 after acquiring an additional 712 shares during the last quarter. Cerebellum GP LLC bought a new position in Universal Display in the fourth quarter valued at approximately $129,000. Aevitas Wealth Management Inc. bought a new position in Universal Display in the fourth quarter valued at approximately $165,000. Glassman Wealth Services boosted its stake in Universal Display by 60.7% in the fourth quarter. Glassman Wealth Services now owns 961 shares of the semiconductor company’s stock valued at $166,000 after acquiring an additional 363 shares during the last quarter. Finally, American International Group Inc. bought a new position in Universal Display in the fourth quarter valued at approximately $170,000. 63.24% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Richard C. Elias sold 2,250 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $129.60, for a total transaction of $291,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Sherwin I. Seligsohn sold 50,000 shares of the firm’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $200.00, for a total transaction of $10,000,000.00. Following the sale, the chairman now owns 143,119 shares in the company, valued at $28,623,800. The disclosure for this sale can be found here. Company insiders own 5.20% of the company’s stock.
Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, February 22nd. The semiconductor company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. Universal Display had a net margin of 30.95% and a return on equity of 18.80%. The company had revenue of $115.87 million for the quarter, compared to analysts’ expectations of $99.55 million. During the same period last year, the firm posted $0.55 earnings per share. The business’s quarterly revenue was up 55.3% compared to the same quarter last year. equities analysts anticipate that Universal Display Co. will post 2.66 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Thursday, March 15th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.19%. This is a positive change from Universal Display’s previous quarterly dividend of $0.03. The ex-dividend date is Wednesday, March 14th. Universal Display’s dividend payout ratio (DPR) is presently 4.88%.
A number of equities analysts have issued reports on OLED shares. BidaskClub cut shares of Universal Display from a “hold” rating to a “sell” rating in a research note on Friday, January 26th. Zacks Investment Research cut shares of Universal Display from a “buy” rating to a “hold” rating in a research report on Saturday, January 27th. ValuEngine cut shares of Universal Display from a “hold” rating to a “sell” rating in a research report on Wednesday, March 7th. Deutsche Bank reissued a “buy” rating and set a $190.00 price target on shares of Universal Display in a research report on Thursday, January 25th. Finally, Needham & Company LLC raised shares of Universal Display from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Tuesday, February 20th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $167.09.
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Universal Display Profile
Universal Display Corporation is engaged 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 also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.
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