Arizona State Retirement System Boosts Stock Holdings in Universal Display Co. (NASDAQ:OLED)

Arizona State Retirement System raised its stake in Universal Display Co. (NASDAQ:OLED) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,065 shares of the semiconductor company’s stock after acquiring an additional 88 shares during the period. Arizona State Retirement System’s holdings in Universal Display were worth $1,910,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Assetmark Inc. purchased a new position in shares of Universal Display during the third quarter valued at about $29,000. Brooklyn Investment Group purchased a new position in Universal Display during the 3rd quarter valued at approximately $30,000. True Wealth Design LLC bought a new stake in Universal Display in the 3rd quarter worth approximately $36,000. Blue Trust Inc. increased its stake in Universal Display by 401.9% in the 4th quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 209 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Universal Display by 185.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 357 shares of the semiconductor company’s stock worth $52,000 after acquiring an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on OLED. Citigroup cut their target price on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Needham & Company LLC dropped their price objective on shares of Universal Display from $215.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Oppenheimer decreased their target price on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, January 2nd. Roth Mkm lifted their price target on Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, StockNews.com downgraded Universal Display from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Universal Display presently has an average rating of “Moderate Buy” and a consensus target price of $190.43.

Universal Display Trading Down 4.0 %

OLED stock opened at $149.65 on Wednesday. Universal Display Co. has a 12 month low of $140.17 and a 12 month high of $237.00. The stock has a market cap of $7.10 billion, a PE ratio of 32.18, a P/E/G ratio of 1.61 and a beta of 1.40. The company has a 50-day moving average price of $148.96 and a 200 day moving average price of $171.39.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.14. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The business had revenue of $162.29 million during the quarter, compared to analyst estimates of $152.75 million. Sell-side analysts forecast that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.45 dividend. This is a positive change from Universal Display’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.80 dividend on an annualized basis and a yield of 1.20%. Universal Display’s dividend payout ratio (DPR) is presently 38.71%.

Universal Display 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.