Peapack Gladstone Financial Corp Has $643,000 Holdings in Universal Display Co. (NASDAQ:OLED)

Peapack Gladstone Financial Corp raised its stake in shares of Universal Display Co. (NASDAQ:OLEDFree Report) by 1.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,367 shares of the semiconductor company’s stock after purchasing an additional 60 shares during the period. Peapack Gladstone Financial Corp’s holdings in Universal Display were worth $643,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its position in shares of Universal Display by 4.5% during the third quarter. Victory Capital Management Inc. now owns 7,771 shares of the semiconductor company’s stock valued at $1,220,000 after purchasing an additional 337 shares in the last quarter. New York Life Investment Management LLC boosted its position in Universal Display by 112.4% in the third quarter. New York Life Investment Management LLC now owns 4,655 shares of the semiconductor company’s stock worth $731,000 after purchasing an additional 2,463 shares during the last quarter. Amalgamated Bank increased its position in shares of Universal Display by 4.4% during the 3rd quarter. Amalgamated Bank now owns 31,472 shares of the semiconductor company’s stock valued at $4,941,000 after purchasing an additional 1,314 shares during the last quarter. Swiss National Bank raised its stake in shares of Universal Display by 1.1% during the 3rd quarter. Swiss National Bank now owns 98,800 shares of the semiconductor company’s stock worth $15,511,000 after purchasing an additional 1,100 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Universal Display by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 308,522 shares of the semiconductor company’s stock worth $48,435,000 after buying an additional 3,780 shares during the last quarter. 78.19% of the stock is owned by institutional investors.

Universal Display Price Performance

Universal Display stock opened at $182.39 on Friday. The firm has a market capitalization of $8.65 billion, a P/E ratio of 39.65, a PEG ratio of 1.97 and a beta of 1.47. Universal Display Co. has a one year low of $133.67 and a one year high of $194.84. The business has a fifty day moving average price of $167.28 and a 200-day moving average price of $172.94.

Universal Display (NASDAQ:OLEDGet Free Report) last issued its earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.05 by $0.14. Universal Display had a return on equity of 15.57% and a net margin of 36.00%. The business had revenue of $165.26 million during the quarter, compared to the consensus estimate of $150.75 million. During the same quarter last year, the company earned $0.83 EPS. The firm’s revenue was up 26.7% compared to the same quarter last year. Sell-side analysts expect that Universal Display Co. will post 4.75 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.88%. Universal Display’s payout ratio is currently 34.78%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 price objective (down previously from $210.00) on shares of Universal Display in a research report on Friday, February 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $198.00 price objective on shares of Universal Display in a research note on Friday, May 3rd. Finally, TD Cowen boosted their target price on Universal Display from $165.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Universal Display presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.86.

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

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

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