Universal Display Co. (NASDAQ:OLED) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS trimmed its holdings in Universal Display Co. (NASDAQ:OLED) by 4.2% in the third quarter, HoldingsChannel.com reports. The firm owned 94,887 shares of the semiconductor company’s stock after selling 4,120 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Universal Display were worth $19,917,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Private Advisor Group LLC grew its stake in Universal Display by 133.4% during the 1st quarter. Private Advisor Group LLC now owns 5,513 shares of the semiconductor company’s stock worth $929,000 after buying an additional 3,151 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Universal Display in the 1st quarter valued at $714,000. Geneos Wealth Management Inc. increased its stake in Universal Display by 210.7% in the first quarter. Geneos Wealth Management Inc. now owns 233 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 158 shares during the period. Texas Permanent School Fund Corp lifted its position in Universal Display by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 38,131 shares of the semiconductor company’s stock worth $6,423,000 after acquiring an additional 493 shares during the period. Finally, ORG Partners LLC purchased a new position in shares of Universal Display in the 1st quarter valued at approximately $27,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Price Performance

OLED traded up $1.77 during trading on Thursday, hitting $187.62. The company’s stock had a trading volume of 21,886 shares, compared to its average volume of 368,737. Universal Display Co. has a twelve month low of $148.18 and a twelve month high of $237.00. The stock has a market cap of $8.90 billion, a PE ratio of 37.32, a PEG ratio of 1.93 and a beta of 1.43. The firm’s 50 day moving average price is $200.90 and its 200-day moving average price is $194.86.

Universal Display (NASDAQ:OLED) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.21. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The business had revenue of $161.63 million for the quarter, compared to analyst estimates of $165.28 million. During the same quarter in the previous year, the business posted $1.08 EPS. The business’s quarterly revenue was up 14.6% on a year-over-year basis. Equities analysts anticipate that Universal Display Co. will post 4.79 earnings per share for the current year.

Universal Display Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, December 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.85%. Universal Display’s dividend payout ratio is currently 32.13%.

Insider Transactions at Universal Display

In other news, Director Lawrence Lacerte purchased 742 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average cost of $180.89 per share, with a total value of $134,220.38. Following the acquisition, the director now owns 122,372 shares in the company, valued at approximately $22,135,871.08. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on OLED. Roth Mkm lifted their price objective on shares of Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Oppenheimer lowered their price target on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. The Goldman Sachs Group raised their price objective on shares of Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. TD Cowen lowered their target price on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, Needham & Company LLC reduced their price target on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $215.63.

Universal Display Company Profile

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 in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.