Vestor Capital LLC increased its position in shares of Universal Display Co. (NASDAQ:OLED – Free Report) by 60.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,209 shares of the semiconductor company’s stock after purchasing an additional 1,954 shares during the quarter. Vestor Capital LLC’s holdings in Universal Display were worth $59,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ieq Capital LLC acquired a new position in Universal Display during the first quarter worth $206,000. Pacer Advisors Inc. raised its holdings in shares of Universal Display by 164.2% in the second quarter. Pacer Advisors Inc. now owns 9,129 shares of the semiconductor company’s stock worth $1,316,000 after acquiring an additional 5,674 shares during the last quarter. Impax Asset Management Group plc raised its holdings in shares of Universal Display by 70.6% in the second quarter. Impax Asset Management Group plc now owns 4,694 shares of the semiconductor company’s stock worth $677,000 after acquiring an additional 1,943 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Universal Display by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 303,313 shares of the semiconductor company’s stock worth $47,053,000 after acquiring an additional 7,255 shares during the last quarter. Finally, Red Spruce Capital LLC raised its holdings in shares of Universal Display by 2.0% in the second quarter. Red Spruce Capital LLC now owns 9,886 shares of the semiconductor company’s stock worth $1,425,000 after acquiring an additional 190 shares during the last quarter. 75.92% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Universal Display
In other news, SVP Mauro Premutico sold 9,351 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $161.17, for a total value of $1,507,100.67. Following the completion of the sale, the senior vice president now owns 33,220 shares of the company’s stock, valued at $5,354,067.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.90% of the company’s stock.
Universal Display Trading Up 1.6 %
Universal Display Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, December 14th. Universal Display’s dividend payout ratio (DPR) is presently 32.48%.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on OLED shares. StockNews.com started coverage on Universal Display in a report on Thursday, October 5th. They issued a “hold” rating for the company. TD Cowen boosted their price target on Universal Display from $150.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. The Goldman Sachs Group lifted their price objective on Universal Display from $168.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Citigroup lifted their price objective on Universal Display from $150.00 to $182.00 and gave the company a “buy” rating in a research report on Tuesday, August 8th. Finally, Roth Mkm lowered their price objective on Universal Display from $196.00 to $176.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Universal Display presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.10.
Universal Display Company Profile
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. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.
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