Universal Display Co. (NASDAQ:OLED) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its position in shares of Universal Display Co. (NASDAQ:OLED) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 84,467 shares of the semiconductor company’s stock after purchasing an additional 180 shares during the period. Retirement Systems of Alabama’s holdings in Universal Display were worth $16,155,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Treasurer of the State of North Carolina grew its holdings in shares of Universal Display by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 20,516 shares of the semiconductor company’s stock worth $3,221,000 after buying an additional 100 shares during the last quarter. CWM LLC grew its holdings in shares of Universal Display by 21.0% during the fourth quarter. CWM LLC now owns 606 shares of the semiconductor company’s stock worth $116,000 after buying an additional 105 shares during the last quarter. Bahl & Gaynor Inc. grew its holdings in shares of Universal Display by 0.6% during the third quarter. Bahl & Gaynor Inc. now owns 18,288 shares of the semiconductor company’s stock worth $2,871,000 after buying an additional 109 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Universal Display by 22.5% during the third quarter. Fifth Third Bancorp now owns 593 shares of the semiconductor company’s stock worth $93,000 after buying an additional 109 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Universal Display by 2.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 8,190 shares of the semiconductor company’s stock worth $1,286,000 after buying an additional 162 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Trading Down 2.5 %

Shares of OLED opened at $157.98 on Wednesday. Universal Display Co. has a twelve month low of $125.98 and a twelve month high of $194.84. The stock’s 50 day moving average is $165.10 and its two-hundred day moving average is $169.17. The firm has a market capitalization of $7.49 billion, a PE ratio of 37.26, a P/E/G ratio of 1.76 and a beta of 1.45.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, February 22nd. The semiconductor company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.11. Universal Display had a net margin of 35.22% and a return on equity of 14.85%. The company had revenue of $158.32 million during the quarter, compared to the consensus estimate of $161.08 million. During the same period last year, the firm earned $1.36 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, sell-side analysts predict that Universal Display Co. will post 4.72 EPS for the current year.

Universal Display Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.01%. This is an increase from Universal Display’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 14th. Universal Display’s dividend payout ratio (DPR) is presently 37.74%.

Wall Street Analyst Weigh In

OLED has been the topic of a number of research reports. Citigroup reissued a “neutral” rating and set a $180.00 price target (up previously from $161.00) on shares of Universal Display in a report on Friday, January 19th. Needham & Company LLC reissued a “buy” rating and set a $198.00 price target on shares of Universal Display in a report on Tuesday, March 26th. TD Cowen lifted their price objective on Universal Display from $165.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 price objective (down previously from $210.00) on shares of Universal Display in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Universal Display presently has a consensus rating of “Moderate Buy” and an average price target of $199.86.

Universal Display Company Profile

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.