Teacher Retirement System of Texas Sells 439 Shares of Universal Display Co. (NASDAQ:OLED)

Teacher Retirement System of Texas trimmed its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 4.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,671 shares of the semiconductor company’s stock after selling 439 shares during the quarter. Teacher Retirement System of Texas’ holdings in Universal Display were worth $1,268,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new position in shares of Universal Display during the third quarter worth $30,000. True Wealth Design LLC acquired a new position in Universal Display during the 3rd quarter worth about $36,000. Blue Trust Inc. grew its position in shares of Universal Display by 401.9% in the 4th quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 209 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Universal Display by 761.1% in the fourth quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 274 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in shares of Universal Display by 185.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 357 shares of the semiconductor company’s stock worth $52,000 after acquiring an additional 232 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Stock Down 3.1 %

Shares of NASDAQ OLED opened at $145.17 on Friday. The firm has a market cap of $6.89 billion, a PE ratio of 31.22, a P/E/G ratio of 1.61 and a beta of 1.40. The company’s fifty day simple moving average is $149.47 and its 200 day simple moving average is $168.25. Universal Display Co. has a 12-month low of $140.17 and a 12-month high of $237.00.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.14. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The company had revenue of $162.29 million for the quarter, compared to analysts’ expectations of $152.75 million. On average, equities analysts predict that Universal Display Co. will post 4.71 earnings per share for the current year.

Universal Display Increases Dividend

The company also recently disclosed 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 represents a $1.80 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Monday, March 17th. This is a boost from Universal Display’s previous quarterly dividend of $0.40. Universal Display’s dividend payout ratio (DPR) is 38.71%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on OLED shares. Needham & Company LLC reduced their target price on Universal Display from $215.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Citigroup reduced their price objective on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Oppenheimer lowered their target price on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, January 2nd. The Goldman Sachs Group cut their price target on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, Roth Mkm lifted their price objective on Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $190.43.

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.