QCI Asset Management Inc. NY Boosts Position in Universal Display Co. (OLED)

QCI Asset Management Inc. NY increased its position in Universal Display Co. (NASDAQ:OLED) by 71.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 140,455 shares of the semiconductor company’s stock after purchasing an additional 58,657 shares during the period. QCI Asset Management Inc. NY owned 0.30% of Universal Display worth $16,560,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Mengis Capital Management Inc. grew its position in Universal Display by 14.4% in the third quarter. Mengis Capital Management Inc. now owns 14,825 shares of the semiconductor company’s stock worth $1,747,000 after buying an additional 1,870 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Universal Display by 20.6% in the third quarter. Janney Montgomery Scott LLC now owns 9,234 shares of the semiconductor company’s stock worth $1,089,000 after buying an additional 1,578 shares during the last quarter. CIBC Asset Management Inc acquired a new position in Universal Display in the third quarter worth approximately $2,916,000. HL Financial Services LLC grew its position in Universal Display by 6.2% in the third quarter. HL Financial Services LLC now owns 9,246 shares of the semiconductor company’s stock worth $1,090,000 after buying an additional 541 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Universal Display by 1.6% in the third quarter. Wells Fargo & Company MN now owns 714,929 shares of the semiconductor company’s stock worth $84,291,000 after buying an additional 11,332 shares during the last quarter. Institutional investors and hedge funds own 73.84% of the company’s stock.

In other Universal Display news, Director Lawrence Lacerte sold 10,000 shares of Universal Display stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $97.02, for a total transaction of $970,200.00. Following the transaction, the director now directly owns 330,000 shares in the company, valued at approximately $32,016,600. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Mauro Premutico sold 10,044 shares of Universal Display stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $123.63, for a total transaction of $1,241,739.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,044 shares of company stock worth $4,004,590. Corporate insiders own 4.00% of the company’s stock.

NASDAQ OLED opened at $97.70 on Friday. Universal Display Co. has a twelve month low of $78.75 and a twelve month high of $209.00. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 40.21, a PEG ratio of 2.49 and a beta of 1.64.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, November 1st. The semiconductor company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.18). Universal Display had a return on equity of 12.77% and a net margin of 24.70%. The firm had revenue of $77.55 million for the quarter, compared to analysts’ expectations of $92.21 million. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The company’s revenue for the quarter was up 25.7% on a year-over-year basis. As a group, equities analysts anticipate that Universal Display Co. will post 1.31 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, December 13th. Universal Display’s payout ratio is 9.88%.

OLED has been the topic of several recent research reports. BidaskClub upgraded shares of Universal Display from a “hold” rating to a “buy” rating in a research report on Thursday, October 4th. Citigroup initiated coverage on shares of Universal Display in a research report on Tuesday, September 4th. They issued a “buy” rating and a $153.00 price target on the stock. ValuEngine upgraded shares of Universal Display from a “hold” rating to a “buy” rating in a research report on Monday, August 13th. Needham & Company LLC lifted their price target on shares of Universal Display from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Finally, Goldman Sachs Group set a $139.00 price target on shares of Universal Display and gave the stock a “buy” rating in a research report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. Universal Display has an average rating of “Buy” and an average target price of $167.82.

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Universal Display 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 22, 2018, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 4,500 issued and pending patents worldwide.

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

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