First Trust Bank Ltd. buys $8.2 Million stake in Universal Display Corporation (OLED)

Universal Display Corporation (OLED) : First Trust Bank Ltd. scooped up 60,000 additional shares in Universal Display Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 156,000 shares of Universal Display Corporation which is valued at $8.2 Million.Universal Display Corporation makes up approximately 14.33% of First Trust Bank Ltd.’s portfolio.

Other Hedge Funds, Including , Geode Capital Management boosted its stake in OLED in the latest quarter, The investment management firm added 12,527 additional shares and now holds a total of 290,942 shares of Universal Display Corporation which is valued at $15.4 Million. Universal Display Corporation makes up approx 0.01% of Geode Capital Management’s portfolio.Group One Trading boosted its stake in OLED in the latest quarter, The investment management firm added 7,006 additional shares and now holds a total of 17,566 shares of Universal Display Corporation which is valued at $928,363. Universal Display Corporation makes up approx 0.10% of Group One Trading’s portfolio. Genesee Valley Trust Co sold out all of its stake in OLED during the most recent quarter. The investment firm sold 3,800 shares of OLED which is valued $200,830.Norges Bank reduced its stake in OLED by selling 675,953 shares or 51.6% in the most recent quarter. The Hedge Fund company now holds 634,013 shares of OLED which is valued at $33.5 Million. Universal Display Corporation makes up approx 0.02% of Norges Bank’s portfolio.Tdam Usa boosted its stake in OLED in the latest quarter, The investment management firm added 5,183 additional shares and now holds a total of 47,672 shares of Universal Display Corporation which is valued at $2.7 Million. Universal Display Corporation makes up approx 0.13% of Tdam Usa’s portfolio.

Universal Display Corporation opened for trading at $64.5 and hit $66.65 on the upside on Wednesday, eventually ending the session at $65.97, with a gain of 2.45% or 1.58 points. The heightened volatility saw the trading volume jump to 13,13,520 shares. Company has a market cap of $3,091 M.

On the company’s financial health, Universal Display Corporation reported $0.04 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 5, 2016. Analyst had a consensus of $-0.01. The company had revenue of $29.70 million for the quarter, compared to analysts expectations of $30.83 million. The company’s revenue was down -4.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.03 EPS.

Many Wall Street Analysts have commented on Universal Display Corporation. 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. Gabelli & Co Downgraded Universal Display Corporation on May 6, 2016 to ” Hold”, Price Target of the shares are set at $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.

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