Millennium Management LLC boosted its position in Universal Display Co. (NASDAQ:OLED) by 479.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 740,149 shares of the semiconductor company’s stock after acquiring an additional 612,476 shares during the quarter. Millennium Management LLC owned 1.57% of Universal Display worth $63,653,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Epoch Investment Partners Inc. increased its stake in Universal Display by 2.3% in the second quarter. Epoch Investment Partners Inc. now owns 3,518,398 shares of the semiconductor company’s stock valued at $302,583,000 after acquiring an additional 78,075 shares during the last quarter. BlackRock Inc. increased its stake in Universal Display by 17.6% in the first quarter. BlackRock Inc. now owns 1,985,898 shares of the semiconductor company’s stock valued at $200,576,000 after acquiring an additional 297,565 shares during the last quarter. Wells Fargo & Company MN boosted its position in Universal Display by 8.0% during the second quarter. Wells Fargo & Company MN now owns 703,597 shares of the semiconductor company’s stock valued at $60,509,000 after buying an additional 52,030 shares during the period. Frontier Capital Management Co. LLC boosted its position in Universal Display by 18.7% during the second quarter. Frontier Capital Management Co. LLC now owns 694,409 shares of the semiconductor company’s stock valued at $59,719,000 after buying an additional 109,468 shares during the period. Finally, Jennison Associates LLC boosted its position in Universal Display by 30.8% during the second quarter. Jennison Associates LLC now owns 600,099 shares of the semiconductor company’s stock valued at $51,609,000 after buying an additional 141,410 shares during the period. 72.57% of the stock is currently owned by institutional investors and hedge funds.

Universal Display stock opened at $120.25 on Tuesday. The stock has a market cap of $5.65 billion, a PE ratio of 76.37 and a beta of 1.73. Universal Display Co. has a 1-year low of $78.75 and a 1-year high of $209.00.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, August 9th. The semiconductor company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.08. The company had revenue of $56.15 million during the quarter, compared to analyst estimates of $49.64 million. Universal Display had a net margin of 22.76% and a return on equity of 11.59%. Universal Display’s revenue for the quarter was down 45.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. research analysts predict that Universal Display Co. will post 1.83 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Saturday, September 15th will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, September 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.20%. Universal Display’s dividend payout ratio is currently 9.88%.

OLED has been the subject of several analyst reports. Goldman Sachs Group set a $150.00 price target on shares of Universal Display and gave the company a “buy” rating in a research report on Tuesday, May 29th. Roth Capital initiated coverage on shares of Universal Display in a research report on Monday, May 21st. They set a “buy” rating and a $136.00 price target for the company. ValuEngine upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a research report on Tuesday, May 29th. BidaskClub upgraded shares of Universal Display from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 10th. Finally, Citigroup initiated coverage on shares of Universal Display in a research report on Tuesday, September 4th. They set a “buy” rating and a $153.00 price target for the company. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $172.82.

In other news, VP Mauro Premutico sold 10,044 shares of the stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $123.63, for a total transaction of $1,241,739.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lawrence Lacerte sold 15,000 shares of the stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $119.51, for a total transaction of $1,792,650.00. Following the sale, the director now owns 348,950 shares of the company’s stock, valued at $41,703,014.50. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Universal Display Company Profile

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in flat panel displays and solid-state lighting applications. As of February 22, 2018, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 4,500 issued and pending patents worldwide.

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

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