30,000 Universal Display Corporation $OLED Shares Sold by General American Investors Co. Inc.

General American Investors Co. Inc. lessened its holdings in shares of Universal Display Corporation (NASDAQ:OLED) by 51.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,009 shares of the semiconductor company’s stock after selling 30,000 shares during the quarter. General American Investors Co. Inc. owned about 0.06% of Universal Display worth $2,158,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Heritage Family Offices LLP bought a new stake in Universal Display during the third quarter worth about $27,000. Commonwealth Equity Services LLC boosted its holdings in Universal Display by 48.8% in the third quarter. Commonwealth Equity Services LLC now owns 12,355 shares of the semiconductor company’s stock valued at $952,000 after acquiring an additional 4,050 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of Universal Display in the 3rd quarter valued at approximately $733,000. Covestor Ltd lifted its position in Universal Display by 55.0% during the 3rd quarter. Covestor Ltd now owns 1,694 shares of the semiconductor company’s stock valued at $131,000 after acquiring an additional 601 shares during the period. Finally, American Assets Inc. purchased a new stake in shares of Universal Display in the 3rd quarter worth approximately $616,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Stock Up 1.4%

Shares of OLED traded up $1.18 during trading hours on Friday, reaching $88.31. 560,771 shares of the company traded hands, compared to its average volume of 863,677. Universal Display Corporation has a 12-month low of $70.77 and a 12-month high of $134.60. The stock has a market capitalization of $3.98 billion, a P/E ratio of 17.91 and a beta of 1.51. The business has a fifty day moving average price of $81.00 and a 200-day moving average price of $91.44.

Universal Display (NASDAQ:OLED) last issued its earnings results on Wednesday, October 28th. The semiconductor company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.10. The firm had revenue of $160.43 million for the quarter, compared to the consensus estimate of $162.72 million. Universal Display had a return on equity of 12.20% and a net margin of 36.74%. The company’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 earnings per share. As a group, research analysts predict that Universal Display Corporation will post 4.43 EPS for the current fiscal year.

Universal Display Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 17th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, December 17th. Universal Display’s dividend payout ratio (DPR) is 40.57%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Citigroup cut shares of Universal Display from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $85.00 to $71.00 in a report on Thursday, October 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Universal Display in a research note on Monday, October 26th. BTIG Research cut shares of Universal Display to a “neutral” rating in a research note on Friday, July 31st. Susquehanna lifted their price objective on Universal Display from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, October 29th. Finally, Zacks Research raised shares of Universal Display from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $114.00.

Universal Display Company Profile

Universal Display Corporation (NASDAQ: OLED) develops and commercializes technologies and materials used in organic light-emitting diode (OLED) displays and lighting. The company’s portfolio includes phosphorescent OLED (PHOLED) materials, which are designed to improve display efficiency, along with OLED research, development and manufacturing technologies.

Universal Display supplies OLED emitter materials and related products to display manufacturers and licenses its intellectual property and technology.