M&T Bank Corp Decreases Holdings in Universal Display Co. (NASDAQ:OLED)

M&T Bank Corp lowered its position in Universal Display Co. (NASDAQ:OLEDFree Report) by 6.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,915 shares of the semiconductor company’s stock after selling 124 shares during the period. M&T Bank Corp’s holdings in Universal Display were worth $366,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of OLED. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Universal Display during the 4th quarter valued at about $29,797,000. Albar Capital Ltd boosted its stake in shares of Universal Display by 2,888.4% during the third quarter. Albar Capital Ltd now owns 157,728 shares of the semiconductor company’s stock valued at $24,762,000 after purchasing an additional 152,450 shares during the period. FMR LLC grew its holdings in shares of Universal Display by 10.6% in the third quarter. FMR LLC now owns 1,398,961 shares of the semiconductor company’s stock worth $219,623,000 after purchasing an additional 134,000 shares during the last quarter. Crestwood Advisors Group LLC purchased a new position in shares of Universal Display in the third quarter worth $20,936,000. Finally, Great Lakes Advisors LLC bought a new stake in Universal Display during the 3rd quarter valued at $14,016,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Insider Buying and Selling at Universal Display

In related news, EVP Julia J. Brown sold 10,358 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $175.00, for a total value of $1,812,650.00. Following the sale, the executive vice president now owns 56,624 shares in the company, valued at approximately $9,909,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Mauro Premutico sold 8,202 shares of Universal Display stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $176.82, for a total value of $1,450,277.64. Following the completion of the transaction, the senior vice president now owns 28,743 shares of the company’s stock, valued at approximately $5,082,337.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Julia J. Brown sold 10,358 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $175.00, for a total transaction of $1,812,650.00. Following the sale, the executive vice president now directly owns 56,624 shares in the company, valued at $9,909,200. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Universal Display Stock Performance

OLED stock opened at $175.46 on Thursday. The company has a market capitalization of $8.32 billion, a price-to-earnings ratio of 38.14, a price-to-earnings-growth ratio of 1.88 and a beta of 1.44. The business’s 50 day moving average price is $163.72 and its two-hundred day moving average price is $170.29. Universal Display Co. has a fifty-two week low of $133.67 and a fifty-two week high of $194.84.

Universal Display (NASDAQ:OLEDGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.14. The business had revenue of $165.26 million during the quarter, compared to the consensus estimate of $150.75 million. Universal Display had a return on equity of 15.57% and a net margin of 36.00%. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.83 earnings per share. Sell-side analysts forecast that Universal Display Co. will post 4.73 earnings per share for the current year.

Universal Display Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Friday, June 14th. Universal Display’s dividend payout ratio (DPR) is presently 34.78%.

Analyst Ratings Changes

A number of equities analysts have issued reports on OLED shares. Citigroup restated a “neutral” rating and issued a $180.00 price objective (up previously from $161.00) on shares of Universal Display in a research report on Friday, January 19th. TD Cowen boosted their price target on Universal Display from $165.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Oppenheimer reiterated an “outperform” rating and issued a $200.00 price objective (down previously from $210.00) on shares of Universal Display in a report on Friday, February 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $198.00 price objective on shares of Universal Display in a research report on Friday, May 3rd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $199.86.

Get Our Latest Research Report on OLED

Universal Display Company Profile

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

Recommended Stories

Want to see what other hedge funds are holding OLED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Display Co. (NASDAQ:OLEDFree Report).

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

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.