ProShare Advisors LLC grew its stake in shares of Universal Display Co. (NASDAQ:OLED) by 10.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,322 shares of the semiconductor company’s stock after acquiring an additional 959 shares during the period. ProShare Advisors LLC’s holdings in Universal Display were worth $2,295,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. Usca Ria LLC lifted its position in shares of Universal Display by 0.9% during the second quarter. Usca Ria LLC now owns 6,455 shares of the semiconductor company’s stock worth $1,435,000 after acquiring an additional 55 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Universal Display by 14.4% during the second quarter. Parallel Advisors LLC now owns 461 shares of the semiconductor company’s stock worth $102,000 after acquiring an additional 58 shares in the last quarter. Rockbridge Investment Management LCC lifted its position in shares of Universal Display by 18.3% during the first quarter. Rockbridge Investment Management LCC now owns 421 shares of the semiconductor company’s stock worth $100,000 after acquiring an additional 65 shares in the last quarter. Commerce Bank lifted its position in shares of Universal Display by 5.1% during the second quarter. Commerce Bank now owns 1,454 shares of the semiconductor company’s stock worth $323,000 after acquiring an additional 70 shares in the last quarter. Finally, Berman Capital Advisors LLC lifted its position in shares of Universal Display by 242.9% during the second quarter. Berman Capital Advisors LLC now owns 120 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 69.16% of the company’s stock.
OLED has been the topic of several recent research reports. Cowen restated an “outperform” rating and set a $285.00 target price on shares of Universal Display in a research report on Tuesday, October 5th. Oppenheimer reiterated a “market perform” rating and issued a $275.00 price objective on shares of Universal Display in a research report on Tuesday, October 5th. Zacks Investment Research upgraded Universal Display from a “sell” rating to a “hold” rating and set a $176.00 price objective on the stock in a research report on Wednesday, October 6th. Finally, Roth Capital increased their price objective on Universal Display from $250.00 to $258.00 and gave the stock a “buy” rating in a research report on Friday, August 6th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Universal Display currently has an average rating of “Hold” and an average target price of $255.22.
Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, August 5th. The semiconductor company reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.12. The business had revenue of $129.66 million for the quarter, compared to analysts’ expectations of $122.38 million. Universal Display had a return on equity of 19.98% and a net margin of 35.73%. As a group, equities research analysts predict that Universal Display Co. will post 4.05 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 30th. Investors of record on Thursday, September 16th were paid a $0.20 dividend. The ex-dividend date was Wednesday, September 15th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Universal Display’s dividend payout ratio is presently 28.57%.
About Universal Display
Universal Display Corp. engages in research, development, and commercialization of organic light emitting diode (OLED) technologies, and materials. It also develops and licenses proprietary OLED technologies to manufacturers of products for display applications, such as cell phones; portable media devices; tablets; laptop computers and televisions; and specialty and general lighting products.
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