Universal Display Corporation $OLED Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lessened its stake in Universal Display Corporation (NASDAQ:OLED) by 30.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,837 shares of the semiconductor company’s stock after selling 31,650 shares during the period. Kornitzer Capital Management Inc. KS owned 0.16% of Universal Display worth $6,768,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in Universal Display by 3.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 472,363 shares of the semiconductor company’s stock valued at $67,846,000 after purchasing an additional 14,356 shares in the last quarter. Aquatic Capital Management LLC increased its position in shares of Universal Display by 891.6% during the 3rd quarter. Aquatic Capital Management LLC now owns 28,588 shares of the semiconductor company’s stock valued at $4,106,000 after purchasing an additional 25,705 shares during the period. Systematic Financial Management LP raised its stake in shares of Universal Display by 40.2% in the 4th quarter. Systematic Financial Management LP now owns 196,515 shares of the semiconductor company’s stock worth $22,949,000 after buying an additional 56,320 shares in the last quarter. Cinctive Capital Management LP bought a new stake in shares of Universal Display in the 3rd quarter worth $3,419,000. Finally, Polar Asset Management Partners Inc. lifted its holdings in shares of Universal Display by 21.4% in the third quarter. Polar Asset Management Partners Inc. now owns 186,792 shares of the semiconductor company’s stock valued at $26,829,000 after buying an additional 32,955 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Citigroup decreased their target price on Universal Display from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Zacks Research downgraded shares of Universal Display from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Roth Capital set a $168.00 price objective on shares of Universal Display in a research report on Friday, May 1st. Oppenheimer lowered their price objective on shares of Universal Display from $160.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Finally, The Goldman Sachs Group set a $135.00 target price on shares of Universal Display in a report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Universal Display has an average rating of “Hold” and a consensus target price of $130.60.

Universal Display Trading Up 1.1%

Shares of NASDAQ OLED traded up $0.89 during mid-day trading on Friday, reaching $81.04. The company had a trading volume of 843,164 shares, compared to its average volume of 726,191. The company has a 50-day moving average price of $88.88 and a two-hundred day moving average price of $101.39. The stock has a market cap of $3.79 billion, a PE ratio of 18.09 and a beta of 1.54. Universal Display Corporation has a 1-year low of $77.15 and a 1-year high of $156.46.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, April 30th. The semiconductor company reported $0.76 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.37). Universal Display had a net margin of 34.08% and a return on equity of 12.34%. The company had revenue of $142.21 million for the quarter, compared to analysts’ expectations of $161.23 million. During the same period in the prior year, the company earned $1.35 earnings per share. The company’s revenue for the quarter was down 14.5% on a year-over-year basis. On average, research analysts expect that Universal Display Corporation will post 4.23 EPS for the current year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.5%. The ex-dividend date was Tuesday, June 16th. Universal Display’s payout ratio is presently 44.64%.

About Universal Display

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.