Highbridge Capital Management LLC acquired a new position in shares of Universal Display Corporation (NASDAQ:OLED) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,117 shares of the semiconductor company’s stock, valued at approximately $659,000.

Other institutional investors also recently made changes to their positions in the company. BKS Advisors LLC bought a new stake in shares of Universal Display during the 2nd quarter worth approximately $2,318,000. Balyasny Asset Management LLC bought a new stake in shares of Universal Display during the 2nd quarter worth approximately $3,673,000. Seven Eight Capital LP raised its stake in shares of Universal Display by 9.9% during the 2nd quarter. Seven Eight Capital LP now owns 17,700 shares of the semiconductor company’s stock worth $1,934,000 after purchasing an additional 1,600 shares in the last quarter. Neuberger Berman Group LLC raised its stake in shares of Universal Display by 18.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 606,472 shares of the semiconductor company’s stock worth $66,257,000 after purchasing an additional 93,223 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of Universal Display during the 2nd quarter worth approximately $366,000. Institutional investors own 65.03% of the company’s stock.

Shares of Universal Display Corporation (NASDAQ:OLED) opened at $170.55 on Friday. Universal Display Corporation has a 12 month low of $55.30 and a 12 month high of $192.75. The firm has a market capitalization of $8,020.42, a price-to-earnings ratio of 83.58 and a beta of 1.06.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.19. Universal Display had a return on equity of 16.67% and a net margin of 32.92%. The business had revenue of $61.70 million for the quarter, compared to analysts’ expectations of $47.35 million. During the same quarter in the prior year, the business earned ($0.03) EPS. The firm’s revenue for the quarter was up 104.3% on a year-over-year basis. equities analysts forecast that Universal Display Corporation will post 2.33 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.07%. The ex-dividend date is Thursday, December 14th. Universal Display’s dividend payout ratio is 5.88%.

In other Universal Display news, CFO Sidney D. Rosenblatt sold 50,240 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $135.02, for a total value of $6,783,404.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Rosemarie B. Greco sold 1,250 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $168.63, for a total value of $210,787.50. Following the completion of the transaction, the director now directly owns 12,800 shares in the company, valued at $2,158,464. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 196,974 shares of company stock worth $30,133,174. Insiders own 5.20% of the company’s stock.

A number of equities research analysts have recently issued reports on OLED shares. Zacks Investment Research upgraded Universal Display from a “hold” rating to a “strong-buy” rating and set a $168.00 price objective on the stock in a research note on Thursday, November 2nd. Gabelli cut Universal Display from a “buy” rating to a “hold” rating and set a $134.00 price objective on the stock. in a research note on Friday, November 3rd. Cowen reiterated a “buy” rating and set a $140.00 price objective on shares of Universal Display in a research note on Friday, September 8th. Deutsche Bank initiated coverage on Universal Display in a research note on Wednesday, August 30th. They set a “buy” rating and a $135.00 price objective on the stock. Finally, BidaskClub cut Universal Display from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $155.30.

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About Universal Display

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

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