Universal Display Co. (NASDAQ:OLED) Shares Purchased by American Trust

Posted by Defense World Staff on Sep 15th, 2023

American Trust boosted its holdings in Universal Display Co. (NASDAQ:OLED – Free Report) by 48.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,051 shares of the semiconductor company’s stock after acquiring an additional 993 shares during the period. American Trust’s holdings in Universal Display were worth $473,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in OLED. US Bancorp DE lifted its holdings in Universal Display by 44.7% in the first quarter. US Bancorp DE now owns 2,947 shares of the semiconductor company’s stock valued at $492,000 after acquiring an additional 911 shares during the last quarter. HighTower Advisors LLC raised its position in Universal Display by 2.0% in the first quarter. HighTower Advisors LLC now owns 9,647 shares of the semiconductor company’s stock valued at $1,610,000 after purchasing an additional 189 shares during the period. BlackRock Inc. raised its position in Universal Display by 2.8% in the first quarter. BlackRock Inc. now owns 4,309,400 shares of the semiconductor company’s stock valued at $719,455,000 after purchasing an additional 117,055 shares during the period. Great West Life Assurance Co. Can raised its position in Universal Display by 8.4% in the first quarter. Great West Life Assurance Co. Can now owns 24,038 shares of the semiconductor company’s stock valued at $4,121,000 after purchasing an additional 1,860 shares during the period. Finally, Yousif Capital Management LLC raised its position in Universal Display by 1.1% in the first quarter. Yousif Capital Management LLC now owns 22,569 shares of the semiconductor company’s stock valued at $3,768,000 after purchasing an additional 239 shares during the period. 75.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 directly owns 33,220 shares of the company’s stock, valued at approximately $5,354,067.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Richard C. Elias sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $157.68, for a total value of $315,360.00. Following the completion of the sale, the director now directly owns 5,767 shares of the company’s stock, valued at approximately $909,340.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Mauro Premutico sold 9,351 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were 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 directly owns 33,220 shares of the company’s stock, valued at $5,354,067.40. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Universal Display Stock Performance

OLED opened at $160.70 on Friday. Universal Display Co. has a one year low of $89.41 and a one year high of $166.57. The company has a market cap of $7.61 billion, a P/E ratio of 36.94, a PEG ratio of 2.65 and a beta of 1.29. The business’s 50-day simple moving average is $151.52 and its 200-day simple moving average is $146.12.

Universal Display (NASDAQ:OLED – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.29. Universal Display had a return on equity of 16.24% and a net margin of 34.31%. The business had revenue of $146.57 million for the quarter, compared to the consensus estimate of $128.60 million. During the same quarter in the prior year, the business posted $0.87 EPS. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts predict that Universal Display Co. will post 3.96 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.87%. Universal Display’s payout ratio is currently 32.18%.

Wall Street Analyst Weigh In

OLED has been the topic of a number of research analyst reports. Bank of America boosted their target price on Universal Display from $145.00 to $165.00 and gave the company a “neutral” rating in a research report on Friday, August 4th. The Goldman Sachs Group increased their price objective on Universal Display from $168.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, August 4th. TD Cowen boosted their target price on Universal Display from $150.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. StockNews.com started coverage on Universal Display in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Citigroup upped their price target on Universal Display from $150.00 to $182.00 and gave the stock a “buy” rating in a report on Tuesday, August 8th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Universal Display presently has a consensus rating of “Moderate Buy” and an average price target of $167.22.

Get Our Latest Stock Analysis on OLED

About Universal Display

(Free Report)

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.