First Trust Bank Ltd. Lowers stake in Universal Display Corporation (OLED)

Universal Display Corporation (OLED) : First Trust Bank Ltd. reduced its stake in Universal Display Corporation by 35.9% during the most recent quarter end. The investment management company now holds a total of 100,000 shares of Universal Display Corporation which is valued at $5,966,000 after selling 56,000 shares in Universal Display Corporation , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Universal Display Corporation makes up approximately 10.25% of First Trust Bank Ltd.’s portfolio.

Other Hedge Funds, Including , Citadel Advisors reduced its stake in OLED by selling 39,491 shares or 71.19% in the most recent quarter. The Hedge Fund company now holds 15,978 shares of OLED which is valued at $953,247.Eam Investors reduced its stake in OLED by selling 6,144 shares or 10.19% in the most recent quarter. The Hedge Fund company now holds 54,163 shares of OLED which is valued at $3,500,013. Universal Display Corporation makes up approx 0.49% of Eam Investors’s portfolio. Dekabank Deutsche Girozentrale sold out all of its stake in OLED during the most recent quarter. The investment firm sold 10,200 shares of OLED which is valued $659,124. Meeder Asset Management Inc added OLED to its portfolio by purchasing 785 company shares during the most recent quarter which is valued at $53,827.

Universal Display Corporation opened for trading at $59.19 and hit $60.06 on the upside on Monday, eventually ending the session at $59.63, with a gain of 0.74% or 0.44 points. The heightened volatility saw the trading volume jump to 5,05,921 shares. Company has a market cap of $2,800 M.

On the company’s financial health, Universal Display Corporation reported $0.46 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $0.51. The company had revenue of $64.40 million for the quarter, compared to analysts expectations of $69.51 million. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS.

Many Wall Street Analysts have commented on Universal Display Corporation. Universal Display Corporation was Downgraded by Needham to ” Hold” on Aug 5, 2016. Company shares were Reiterated by Needham on May 25, 2016 to “Buy”, Firm has raised the Price Target to $ 69 from a previous price target of $62 .Universal Display Corporation was Upgraded by Goldman to ” Buy” on May 23, 2016.

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.

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