Metropolitan Life Insurance Co NY Cuts Stake in Universal Display Co. (NASDAQ:OLED)

Metropolitan Life Insurance Co NY reduced its holdings in Universal Display Co. (NASDAQ:OLED) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,298 shares of the semiconductor company’s stock after selling 68 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in Universal Display were worth $2,185,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of OLED. EP Wealth Advisors LLC bought a new position in Universal Display in the 1st quarter valued at approximately $317,000. Meridian Wealth Management LLC bought a new position in Universal Display in the 1st quarter valued at approximately $31,000. Primecap Management Co. CA lifted its stake in Universal Display by 1.2% in the 1st quarter. Primecap Management Co. CA now owns 4,768,412 shares of the semiconductor company’s stock valued at $728,852,000 after purchasing an additional 55,493 shares during the last quarter. Neuburgh Advisers LLC lifted its stake in Universal Display by 22.2% in the 1st quarter. Neuburgh Advisers LLC now owns 8,228 shares of the semiconductor company’s stock valued at $1,258,000 after purchasing an additional 1,496 shares during the last quarter. Finally, Advisory Alpha LLC bought a new position in Universal Display in the 1st quarter valued at approximately $71,000. 75.96% of the stock is currently owned by institutional investors.

In other news, Director Rosemarie B. Greco sold 4,425 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $171.13, for a total value of $757,250.25. Following the completion of the sale, the director now directly owns 6,793 shares in the company, valued at approximately $1,162,486.09. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sidney D. Rosenblatt sold 33,930 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $182.23, for a total transaction of $6,183,063.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,750 shares of company stock valued at $19,581,068. Company insiders own 3.70% of the company’s stock.

OLED stock traded up $4.47 during mid-day trading on Friday, hitting $199.62. The company had a trading volume of 844,132 shares, compared to its average volume of 550,664. The firm’s fifty day moving average is $173.39. Universal Display Co. has a 12 month low of $78.78 and a 12 month high of $201.23. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 160.98, a PEG ratio of 2.72 and a beta of 1.55.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.40. Universal Display had a net margin of 28.93% and a return on equity of 12.35%. The business had revenue of $87.80 million during the quarter, compared to analysts’ expectations of $64.59 million. During the same quarter in the previous year, the company earned $0.13 EPS. The business’s quarterly revenue was up 101.4% compared to the same quarter last year. On average, sell-side analysts forecast that Universal Display Co. will post 2.44 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.10 dividend. The ex-dividend date was Thursday, June 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.20%. Universal Display’s payout ratio is 32.26%.

Several equities analysts have recently issued reports on OLED shares. Oppenheimer raised their price target on shares of Costco Wholesale from $270.00 to $295.00 in a research note on Wednesday. Citigroup reiterated a “buy” rating on shares of Healthequity in a research report on Friday, May 10th. Susquehanna Bancshares reiterated a “neutral” rating and set a $180.00 price objective on shares of Universal Display in a research report on Monday, April 29th. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price objective (up from $200.00) on shares of Universal Display in a research report on Friday. Finally, Roth Capital set a $194.00 price target on shares of Universal Display and gave the stock a “buy” rating in a report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $168.22.

Universal Display 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 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.

See Also: Intrinsic Value

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

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