Alliancebernstein L.P. Sells 39,863 Shares of Universal Display Corporation (OLED)
Alliancebernstein L.P. cut its holdings in shares of Universal Display Corporation (NASDAQ:OLED) by 59.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,328 shares of the semiconductor company’s stock after selling 39,863 shares during the period. Alliancebernstein L.P. owned about 0.06% of Universal Display Corporation worth $2,986,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of OLED. IFP Advisors Inc grew its position in shares of Universal Display Corporation by 307.5% during the second quarter. IFP Advisors Inc now owns 1,080 shares of the semiconductor company’s stock worth $118,000 after buying an additional 815 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Universal Display Corporation by 79.4% during the second quarter. BNP Paribas Arbitrage SA now owns 1,536 shares of the semiconductor company’s stock worth $168,000 after buying an additional 680 shares in the last quarter. FNY Partners Fund LP acquired a new position in shares of Universal Display Corporation during the first quarter worth about $146,000. Invictus RG acquired a new position in shares of Universal Display Corporation during the first quarter worth about $152,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Universal Display Corporation during the second quarter worth about $197,000. Institutional investors own 64.09% of the company’s stock.
A number of brokerages have recently commented on OLED. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $161.00 price objective (up from $150.00) on shares of Universal Display Corporation in a research report on Monday, September 18th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $150.00 price target on shares of Universal Display Corporation in a report on Tuesday, September 5th. Cowen and Company reaffirmed a “buy” rating and issued a $140.00 price target on shares of Universal Display Corporation in a report on Friday, September 8th. Summit Redstone reaffirmed a “hold” rating and issued a $95.00 price target on shares of Universal Display Corporation in a report on Tuesday, August 1st. Finally, Zacks Investment Research downgraded Universal Display Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 18th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $121.11.
In related news, CFO Sidney D. Rosenblatt sold 50,240 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $135.02, for a total transaction of $6,783,404.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Julia J. Brown sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $125.00, for a total value of $1,250,000.00. Following the transaction, the insider now owns 162,932 shares of the company’s stock, valued at approximately $20,366,500. The disclosure for this sale can be found here. Insiders have sold a total of 78,240 shares of company stock valued at $10,274,945 in the last 90 days. Insiders own 5.20% of the company’s stock.
Shares of Universal Display Corporation (NASDAQ:OLED) opened at 128.45 on Wednesday. Universal Display Corporation has a 12-month low of $47.88 and a 12-month high of $145.30. The firm has a market capitalization of $6.04 billion, a P/E ratio of 74.46 and a beta of 1.04. The stock has a 50 day moving average price of $126.97 and a 200 day moving average price of $112.89.
Universal Display Corporation (NASDAQ:OLED) last released its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.31. Universal Display Corporation had a return on equity of 14.90% and a net margin of 31.15%. The business had revenue of $102.50 million during the quarter, compared to analyst estimates of $84.81 million. During the same quarter in the previous year, the firm posted $0.46 EPS. The business’s revenue for the quarter was up 59.2% compared to the same quarter last year. Equities analysts anticipate that Universal Display Corporation will post $2.14 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 30th. Investors of record on Friday, September 15th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.09%. Universal Display Corporation’s dividend payout ratio is currently 6.94%.
Universal Display Corporation Company 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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