Shelton Capital Management maintained its position in shares of Universal Display Corp. (NASDAQ:OLED) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,500 shares of the company’s stock at the end of the second quarter. Shelton Capital Management’s holdings in Universal Display Corp. were worth $712,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. KEYWISE CAPITAL MANAGEMENT Ltd bought a new position in Universal Display Corp. during the second quarter valued at about $35,337,000. Eagle Asset Management Inc. bought a new position in Universal Display Corp. during the second quarter valued at about $22,395,000. Quentec Asset Management LLC raised its position in Universal Display Corp. by 97.8% in the first quarter. Quentec Asset Management LLC now owns 309,458 shares of the company’s stock valued at $16,742,000 after buying an additional 153,000 shares in the last quarter. NN Investment Partners Holdings N.V. raised its position in Universal Display Corp. by 33.4% in the second quarter. NN Investment Partners Holdings N.V. now owns 500,491 shares of the company’s stock valued at $33,934,000 after buying an additional 125,319 shares in the last quarter. Finally, BlackRock Group LTD raised its position in Universal Display Corp. by 257.1% in the first quarter. BlackRock Group LTD now owns 89,238 shares of the company’s stock valued at $4,828,000 after buying an additional 64,245 shares in the last quarter. Institutional investors and hedge funds own 67.42% of the company’s stock.
Universal Display Corp. (NASDAQ:OLED) traded up 0.14% during trading on Friday, reaching $49.81. The company had a trading volume of 554,101 shares. The firm’s 50 day moving average price is $54.48 and its 200 day moving average price is $61.18. Universal Display Corp. has a 12-month low of $34.13 and a 12-month high of $74.39. The firm has a market capitalization of $2.34 billion, a PE ratio of 48.64 and a beta of 1.06.
Universal Display Corp. (NASDAQ:OLED) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.04. The firm earned $64.40 million during the quarter, compared to the consensus estimate of $68.68 million. Universal Display Corp. had a net margin of 24.96% and a return on equity of 10.15%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 earnings per share. Analysts anticipate that Universal Display Corp. will post $0.87 earnings per share for the current year.
Several research firms have issued reports on OLED. Needham & Company LLC lowered Universal Display Corp. from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Zacks Investment Research lowered Universal Display Corp. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 13th. Canaccord Genuity reiterated a “hold” rating and set a $52.00 price objective on shares of Universal Display Corp. in a research note on Sunday, August 7th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Universal Display Corp. in a research note on Monday, August 8th. Finally, TheStreet upgraded Universal Display Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Universal Display Corp. currently has a consensus rating of “Hold” and an average price target of $59.50.
In related news, Director Leonard Becker sold 5,000 shares of the business’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $61.11, for a total value of $305,550.00. Following the completion of the sale, the director now directly owns 19,650 shares in the company, valued at approximately $1,200,811.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.70% of the stock is owned by corporate insiders.
About Universal Display Corp.
Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in displays for wearables, smartphones, tablets and televisions, as well as solid-state lighting applications. The Company’s flat panel displays are used for various portable consumer electronics products, such as mobile phones, wearables, portable media devices, digital cameras, tablets and notebook computers.