Mengis Capital Management Inc. boosted its position in Universal Display Corporation (NASDAQ:OLED) by 16.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,050 shares of the semiconductor company’s stock after buying an additional 1,694 shares during the period. Mengis Capital Management Inc.’s holdings in Universal Display Corporation were worth $1,316,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Universal Display Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 3,403,157 shares of the semiconductor company’s stock worth $293,012,000 after buying an additional 141,268 shares during the period. BlackRock Inc. raised its position in shares of Universal Display Corporation by 82,293.2% in the first quarter. BlackRock Inc. now owns 2,817,024 shares of the semiconductor company’s stock worth $242,545,000 after buying an additional 2,813,605 shares during the period. Columbus Circle Investors raised its position in shares of Universal Display Corporation by 41.5% in the first quarter. Columbus Circle Investors now owns 884,208 shares of the semiconductor company’s stock worth $76,130,000 after buying an additional 259,267 shares during the period. State Street Corp raised its position in shares of Universal Display Corporation by 3.1% in the first quarter. State Street Corp now owns 788,727 shares of the semiconductor company’s stock worth $67,909,000 after buying an additional 23,770 shares during the period. Finally, TimesSquare Capital Management LLC purchased a new position in shares of Universal Display Corporation during the first quarter worth $34,440,000. Institutional investors own 67.49% of the company’s stock.
Shares of Universal Display Corporation (NASDAQ OLED) traded down 2.10% during midday trading on Friday, hitting $109.80. The company’s stock had a trading volume of 745,340 shares. The stock’s 50 day moving average is $116.47 and its 200-day moving average is $99.45. Universal Display Corporation has a 52-week low of $47.88 and a 52-week high of $130.65. The firm has a market cap of $5.16 billion, a P/E ratio of 63.65 and a beta of 1.05.
Universal Display Corporation (NASDAQ:OLED) last released its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.31. The firm had revenue of $102.50 million for the quarter, compared to analysts’ expectations of $84.81 million. Universal Display Corporation had a net margin of 31.15% and a return on equity of 14.90%. The business’s quarterly revenue was up 59.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.46 earnings per share. Equities analysts predict that Universal Display Corporation will post $2.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, September 30th. Stockholders of record on Friday, September 15th will be issued a $0.03 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.11%. Universal Display Corporation’s payout ratio is currently 6.94%.
A number of equities analysts have recently weighed in on OLED shares. Cowen and Company set a $140.00 target price on Universal Display Corporation and gave the stock a “buy” rating in a research note on Friday, August 4th. Goldman Sachs Group, Inc. (The) increased their target price on Universal Display Corporation from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, May 8th. Cross Research upgraded Universal Display Corporation from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research note on Friday, May 5th. Zacks Investment Research upgraded Universal Display Corporation from a “hold” rating to a “strong-buy” rating and set a $136.00 price objective on the stock in a research note on Thursday, August 10th. Finally, BidaskClub upgraded Universal Display Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $118.00.
In related news, insider Julia J. Brown sold 10,000 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 162,932 shares in the company, valued at $20,366,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leonard Becker sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $114.24, for a total transaction of $428,400.00. Following the completion of the transaction, the director now owns 13,750 shares of the company’s stock, valued at $1,570,800. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,750 shares of company stock worth $3,919,940. Insiders own 5.70% of the company’s stock.
About Universal Display Corporation
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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