Universal Display Corporation $OLED Shares Bought by Vestor Capital LLC

Vestor Capital LLC grew its holdings in Universal Display Corporation (NASDAQ:OLED – Free Report) by 3,420.6% during the third quarter, HoldingsChannel.com reports. The fund owned 13,695 shares of the semiconductor company’s stock after purchasing an additional 13,306 shares during the quarter. Vestor Capital LLC’s holdings in Universal Display were worth $1,055,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. XXEC Inc. acquired a new position in shares of Universal Display during the 2nd quarter valued at $2,508,286,000. BlackRock Inc. purchased a new position in Universal Display in the second quarter valued at about $373,931,000. Primecap Management Co. CA acquired a new position in shares of Universal Display during the second quarter worth about $190,136,000. Canada Pension Plan Investment Board acquired a new position in shares of Universal Display during the second quarter worth about $31,796,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Universal Display during the second quarter worth about $27,721,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Stock Performance

Shares of NASDAQ OLED opened at $90.01 on Tuesday. Universal Display Corporation has a 1 year low of $70.77 and a 1 year high of $134.60. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 18.26 and a beta of 1.51. The stock’s 50-day simple moving average is $81.14 and its 200-day simple moving average is $91.30.

Universal Display (NASDAQ:OLED – Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The semiconductor company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.10. The firm had revenue of $160.43 million during the quarter, compared to the consensus estimate of $162.72 million. Universal Display had a return on equity of 12.20% and a net margin of 36.74%. Universal Display’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.92 earnings per share. As a group, research analysts predict that Universal Display Corporation will post 4.43 EPS for the current year.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 17th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, December 17th. Universal Display’s dividend payout ratio is presently 40.57%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on OLED. BTIG Research lowered Universal Display to a “neutral” rating in a research note on Friday, July 31st. Susquehanna raised their target price on Universal Display from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, October 29th. Zacks Research raised Universal Display from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Universal Display in a report on Monday, October 26th. Finally, Oppenheimer lowered their price objective on shares of Universal Display from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, October 29th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $114.00.

Read Our Latest Research Report on OLED

About Universal Display

(Free Report)

Universal Display Corporation develops and commercializes technologies and materials used in organic light-emitting diode (OLED) displays and lighting. Its business focuses on licensing its OLED-related intellectual property and selling proprietary OLED materials to manufacturers and other industry participants.

The company is known for its phosphorescent OLED technology, marketed as UniversalPHOLED, which enables OLED devices to produce light efficiently. Its offerings include phosphorescent emitter materials and related technologies, supported by ongoing research and development.

Further Reading

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

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