In a recent disclosure with the Securities and Exchange Commission (SEC), SG Americas Securities Llc announced that it has substantially reduced its position in Universal Display Co. (NASDAQ:OLED) during the first quarter of this year. The institutional investor sold approximately 55.2% of its holdings, amounting to 20,862 shares, thus shrinking its stake in the semiconductor company. At the end of the first quarter, SG Americas Securities LLC owned 16,912 shares of Universal Display stock, valued at $2,624,000.
Universal Display recently reported its earnings results for the quarter ended May 3rd. The company surpassed analysts’ expectations by reporting earnings per share (EPS) of $0.83, outperforming the consensus estimate of $0.82 by a slight margin of $0.01. This positive earnings report is likely to have contributed to investor confidence in Universal Display.
Looking at key financial indicators, Universal Display displayed a respectable return on equity (ROE) of 16.15% as well as a healthy net margin of 33.51%. However, compared to the same period in the prior year, quarterly revenue declined by 13.3%, totaling $130.47 million instead of analysts’ projected figure of $135.19 million.
The sale mentioned above was made by Director Lawrence Lacerte on May 9th when he disposed of 15,000 shares at an average price of $136.73 each, resulting in a total transaction value of $2,050,950. Presently owning 125,472 shares in Universal Display directly after this sale was finalized, Lacerte’s stake has an estimated worth of around $17,155,786.
This transaction was disclosed through official documentation filed with the SEC and accessible via their website or through the attached hyperlink. Additionally, Director Lawrence Lacerte conducted another transaction involving selling another block of 15,000 shares on the same day at the same average price. Following this second sale, Lacerte’s ownership of Universal Display shares reached 125,472 and was valued at approximately $17,155,786.
Furthermore, Executive Vice President Julia J. Brown also sold some of her stock holdings. On June 6th, she sold 1,764 shares at an average price of $150.14 per share, yielding a total value of $264,846.96. Following this transaction, Brown now holds 63,268 shares in Universal Display with a value of $9,499,057.
It is worth noting that company insiders currently own 1.90% of Universal Display’s stock. Insider selling can sometimes indicate a lack of confidence in the company’s future prospects or may be driven by personal financial needs.
As we approach the mid-point of 2023, analysts predict that Universal Display Co. will achieve an earnings per share (EPS) figure of 3.85 for the current year.
These recent developments involving SG Americas Securities LLC trimming their position in Universal Display Co., Director Lawrence Lacerte’s sales activity and Executive Vice President Julia J. Brown’s transaction have drawn attention from investors and market analysts alike. The intricacies surrounding these moves may hint at potential shifts in shareholder sentiment or perhaps reflect individual financial decisions made by company executives.
Investors are advised to closely monitor any further disclosures from Universal Display as well as market trends impacting the semiconductor industry to make informed investment decisions in line with their investment strategies and risk appetite.
In conclusion, while adjustments and sales activities occur within institutional investors and among company insiders like Lawrence Lacerte and Julia J. Brown for various reasons – it is essential for stakeholders to keep a keen eye on these developments to better understand their implications for companies such as Universal Display Co.
Institutional Investors Show Confidence in Universal Display with Increased Holdings
July 21, 2023 – Institutional Investors Continue to Modify Holdings in Universal Display
In recent months, there has been a significant increase in the holdings of Universal Display by various institutional investors. This surge in interest signifies a growing confidence in the company’s potential and its ability to deliver strong returns on investments.
US Bancorp DE, for instance, raised its holdings in Universal Display by an impressive 44.7% during the first quarter of this year. This move demonstrates US Bancorp DE’s belief in the semiconductor company’s future prospects and its willingness to increase its stake accordingly. With an additional 911 shares added to their portfolio, US Bancorp DE now owns a total of 2,947 shares worth $492,000.
HighTower Advisors LLC also showed confidence in Universal Display by raising its holdings by 2% during the same period. The firm acquired an additional 189 shares, bringing their total ownership to 9,647 shares valued at $1,610,000. The decision made by HighTower Advisors LLC reflects their trust in Universal Display’s solid financial standing and growth potential.
BlackRock Inc., one of the largest asset management firms globally, raised its holdings in Universal Display by 2.8%. With an additional purchase of 117,055 shares during the first quarter, BlackRock Inc.’s ownership now stands at a whopping 4,309,400 shares worth $719,455,000. This significant increase signifies BlackRock Inc.’s belief that Universal Display will continue to be a valuable asset and generate substantial returns for shareholders.
Great West Life Assurance Co. Can also joined the ranks of institutions increasing their position in Universal Display with an 8.4% rise during the first quarter. The firm acquired an additional 1,860 shares and now owns a total of 24,038 shares valued at $4,121,000.
Finally, Yousif Capital Management LLC marginally increased its position in Universal Display by 1.1% during the first quarter. This move adds 239 shares to their portfolio, bringing the total to 22,569 shares worth $3,768,000.
Overall, institutional investors currently own approximately 74.93% of Universal Display’s stock. This level of ownership highlights the trust and confidence that major investment firms have in the semiconductor company.
On Friday, July 21st, NASDAQ OLED opened at $141.17 per share. The business has experienced a fifty-day moving average price of $144.70 and a two-hundred-day moving average price of $139.16.
Universal Display Co.’s impressive performance is reflected in its market capitalization of $6.68 billion, making it a prominent player within the industry. The company boasts a reasonable PE ratio of 33.77 and a PEG ratio of 2.41, indicating potential for future growth.
It’s worth noting that Universal Display’s stock has observed fluctuations between its fifty-two week low of $89.41 and its fifty-two week high of $157.50.
In related news, Director Lawrence Lacerte sold 15,000 shares on Tuesday, May 9th at an average price of $136.73 per share, amounting to a total value of $2,050,950.00. Following this transaction, Lawrence Lacerte now directly owns 125,472 shares valued at $17,155,786.56.
The recent sale was disclosed through a document filed with the Securities & Exchange Commission (SEC), which is accessible via the SEC website.
Additionally, EVP Julia J Brown sold 1,764 shares on Tuesday June 6th at an average price of $150.14 per share for a total value of $264,846.96.
As for recent dividends declared by Universal Display Co., stockholders as of Friday, June 16th received a quarterly dividend payment of $0.35 per share on Friday, June 30th. This represents an annualized dividend of $1.40 and a dividend yield of 0.99%. The ex-dividend date for this particular dividend was Thursday, June 15th.
Analysts from StockNews.com have recently begun coverage of Universal Display with a “hold” rating designation. On the other hand, Oppenheimer increased its target price on Universal Display from $160.00 to $180.00 in a research report published on Tuesday, April 18th.
With two analysts issuing hold ratings and six giving buy ratings to the company, Universal Display is perceived favorably by industry experts. According to Bloomberg.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $150.44.
The modified holdings by institutional investors along with positive analyst opinions indicate that Universal Display’s future prospects are bright. Investors can expect continued growth and potential returns within the semiconductor industry as the company maintains its position as a market leader.
The post SG Americas Securities LLC Trims Position in Universal Display Co. as Director and Executive Vice President Sell Shares appeared first on Best Stocks.
