Comerica Bank Cuts Stock Position in Universal Display Co. (NASDAQ:OLED)

Comerica Bank cut its holdings in Universal Display Co. (NASDAQ:OLEDGet Rating) by 1.8% in the third quarter, Holdings Channel reports. The institutional investor owned 20,971 shares of the semiconductor company’s stock after selling 392 shares during the quarter. Comerica Bank’s holdings in Universal Display were worth $2,000,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sigma Planning Corp increased its position in shares of Universal Display by 9.1% in the second quarter. Sigma Planning Corp now owns 8,185 shares of the semiconductor company’s stock valued at $828,000 after buying an additional 686 shares in the last quarter. Banco Santander S.A. purchased a new stake in shares of Universal Display in the second quarter valued at approximately $491,000. Trexquant Investment LP increased its position in shares of Universal Display by 716.2% in the second quarter. Trexquant Investment LP now owns 13,476 shares of the semiconductor company’s stock valued at $1,363,000 after buying an additional 11,825 shares in the last quarter. Endurance Wealth Management Inc. increased its position in shares of Universal Display by 1.7% in the third quarter. Endurance Wealth Management Inc. now owns 134,671 shares of the semiconductor company’s stock valued at $12,707,000 after buying an additional 2,263 shares in the last quarter. Finally, Texas Permanent School Fund increased its position in shares of Universal Display by 2.1% in the second quarter. Texas Permanent School Fund now owns 31,395 shares of the semiconductor company’s stock valued at $3,175,000 after buying an additional 658 shares in the last quarter. 73.43% of the stock is currently owned by hedge funds and other institutional investors.

Universal Display Stock Performance

NASDAQ OLED opened at $127.97 on Friday. The stock’s fifty day moving average is $113.20 and its two-hundred day moving average is $108.97. The firm has a market capitalization of $6.04 billion, a P/E ratio of 31.99, a price-to-earnings-growth ratio of 1.76 and a beta of 1.39. Universal Display Co. has a fifty-two week low of $89.41 and a fifty-two week high of $176.41.

Universal Display (NASDAQ:OLEDGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The semiconductor company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.22. The company had revenue of $160.56 million for the quarter, compared to analyst estimates of $144.79 million. Universal Display had a return on equity of 16.56% and a net margin of 32.13%. As a group, sell-side analysts forecast that Universal Display Co. will post 3.99 EPS for the current year.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Friday, December 16th were given a $0.30 dividend. The ex-dividend date was Thursday, December 15th. This represents a $1.20 dividend on an annualized basis and a yield of 0.94%. Universal Display’s dividend payout ratio is currently 30.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OLED. StockNews.com began coverage on Universal Display in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Needham & Company LLC lowered their price target on Universal Display from $140.00 to $128.00 and set a “buy” rating on the stock in a research note on Friday, November 4th. Oppenheimer lowered their price target on Universal Display from $150.00 to $135.00 in a research note on Friday, November 4th. Susquehanna raised Universal Display from a “negative” rating to a “neutral” rating and lifted their price target for the stock from $82.00 to $135.00 in a research note on Thursday. Finally, The Goldman Sachs Group lowered their price target on Universal Display from $185.00 to $158.00 and set a “buy” rating on the stock in a research note on Friday, November 4th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $139.10.

Universal Display Profile

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Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. It owns, exclusively licenses, or has sole rights to sublicense approximately 5,500 issued and pending patents worldwide.

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

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