Universal Display Corporation (OLED) : Kingdom Ridge Capital reduced its stake in Universal Display Corporation by 25.06% during the most recent quarter end. The investment management company now holds a total of 150,700 shares of Universal Display Corporation which is valued at $9,373,540 after selling 50,400 shares in Universal Display Corporation , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Universal Display Corporation makes up approximately 8.47% of Kingdom Ridge Capital’s portfolio.
Other Hedge Funds, Including , Wolverine Trading reduced its stake in OLED by selling 33,025 shares or 52.61% in the most recent quarter. The Hedge Fund company now holds 29,754 shares of OLED which is valued at $1,850,699. Universal Display Corporation makes up approx 0.11% of Wolverine Trading’s portfolio. Credit Agricole S A added OLED to its portfolio by purchasing 22,835 company shares during the most recent quarter which is valued at $1,284,469.California Public Employees Retirement System reduced its stake in OLED by selling 5,500 shares or 5.66% in the most recent quarter. The Hedge Fund company now holds 91,600 shares of OLED which is valued at $4,645,952. Universal Display Corporation makes up approx 0.01% of California Public Employees Retirement System’s portfolio.
Universal Display Corporation opened for trading at $58 and hit $59.3545 on the upside on Monday, eventually ending the session at $58.1, with a gain of 0.48% or 0.275 points. The heightened volatility saw the trading volume jump to 3,85,757 shares. Company has a market cap of $2,729 M.
On the company’s financial health, Universal Display Corporation reported $-0.03 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Nov 3, 2016. Analyst had a consensus of $-0.01. The company had revenue of $30.20 million for the quarter, compared to analysts expectations of $32.90 million. The company’s revenue was down -23.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.15 EPS.
Many Wall Street Analysts have commented on Universal Display Corporation. Gabelli & Co Upgraded Universal Display Corporation on Nov 4, 2016 to ” Buy”, Price Target of the shares are set at $68.Shares were Reiterated by Canaccord Genuity on Nov 4, 2016 to “Hold” and Lowered the Price Target to $ 49 from a previous price target of $51 .
Universal Display Corporation is engaged in the research development and commercialization of organic light emitting diode (OLED) technologies and materials for use in displays for wearables smartphones tablets and televisions as well as solid-state lighting applications. The Company’s flat panel displays are used for a variety of portable consumer electronics products such as cell phones portable media devices digital cameras tablets and laptop computers. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities and it provides technical assistance and support to these manufacturers. Its customers include LG Display Tohoku Pioneer and Konica Minolta among others.