Insight Capital Research & Management Inc. decreased its holdings in Universal Display Corporation (NASDAQ:OLED) by 54.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,821 shares of the semiconductor company’s stock after selling 6,974 shares during the quarter. Insight Capital Research & Management Inc.’s holdings in Universal Display were worth $750,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in the stock. Neuberger Berman Group LLC lifted its stake in Universal Display by 17.8% in the third quarter. Neuberger Berman Group LLC now owns 714,223 shares of the semiconductor company’s stock worth $92,028,000 after acquiring an additional 107,751 shares during the period. Griffin Asset Management Inc. lifted its position in Universal Display by 725.2% during the third quarter. Griffin Asset Management Inc. now owns 41,262 shares of the semiconductor company’s stock valued at $5,317,000 after buying an additional 36,262 shares during the period. California Public Employees Retirement System lifted its position in Universal Display by 4.3% during the third quarter. California Public Employees Retirement System now owns 76,562 shares of the semiconductor company’s stock valued at $9,865,000 after buying an additional 3,162 shares during the period. Janney Montgomery Scott LLC lifted its position in Universal Display by 31.5% during the third quarter. Janney Montgomery Scott LLC now owns 3,903 shares of the semiconductor company’s stock valued at $503,000 after buying an additional 936 shares during the period. Finally, Affinity Wealth Management purchased a new position in Universal Display during the third quarter valued at $495,000. 65.03% of the stock is owned by institutional investors.
In other news, Director Rosemarie B. Greco sold 1,250 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $168.63, for a total transaction of $210,787.50. Following the completion of the transaction, the director now directly owns 12,800 shares in the company, valued at $2,158,464. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sidney D. Rosenblatt sold 50,240 shares of the firm’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $135.02, for a total value of $6,783,404.80. The disclosure for this sale can be found here. Insiders have sold 196,974 shares of company stock valued at $30,133,174 over the last 90 days. Corporate insiders own 5.20% of the company’s stock.
Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.19. Universal Display had a return on equity of 16.67% and a net margin of 32.92%. The firm had revenue of $61.70 million during the quarter, compared to the consensus estimate of $47.35 million. During the same period last year, the company earned ($0.03) earnings per share. The company’s revenue was up 104.3% on a year-over-year basis. equities analysts forecast that Universal Display Corporation will post 2.33 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.07%. Universal Display’s payout ratio is presently 5.88%.
Several equities analysts have commented on the company. Zacks Investment Research lowered Universal Display from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Evercore ISI assumed coverage on Universal Display in a research report on Thursday, November 30th. They set an “outperform” rating and a $225.00 price objective for the company. Cowen set a $140.00 price objective on Universal Display and gave the company a “buy” rating in a research report on Wednesday, October 11th. Needham & Company LLC reissued a “hold” rating on shares of Universal Display in a research report on Friday, November 3rd. Finally, Susquehanna Bancshares reissued a “positive” rating and set a $150.00 price objective on shares of Universal Display in a research report on Tuesday, September 5th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Universal Display presently has an average rating of “Hold” and a consensus price target of $155.30.
WARNING: “Universal Display Corporation (OLED) Shares Sold by Insight Capital Research & Management Inc.” was originally published by Community Financial News and is the property of of Community Financial News. If you are reading this story on another domain, it was copied illegally and republished in violation of US & international trademark & copyright laws. The legal version of this story can be read at https://www.com-unik.info/2017/12/13/universal-display-corporation-oled-shares-sold-by-insight-capital-research-management-inc.html.
Universal Display Company Profile
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.
Receive News & Ratings for Universal Display Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Display and related companies with MarketBeat.com's FREE daily email newsletter.