State of Alaska Department of Revenue Buys 135 Shares of Universal Display Corporation (NASDAQ:OLED)

State of Alaska Department of Revenue raised its stake in Universal Display Corporation (NASDAQ:OLED) by 2.7% in the 1st quarter, HoldingsChannel reports. The firm owned 5,172 shares of the semiconductor company’s stock after acquiring an additional 135 shares during the quarter. State of Alaska Department of Revenue’s holdings in Universal Display were worth $721,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OLED. Vanguard Group Inc. grew its holdings in shares of Universal Display by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 4,784,099 shares of the semiconductor company’s stock valued at $699,435,000 after buying an additional 67,590 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Universal Display by 2.8% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,536,513 shares of the semiconductor company’s stock valued at $370,838,000 after buying an additional 69,043 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Universal Display by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 901,315 shares of the semiconductor company’s stock valued at $131,806,000 after buying an additional 101,963 shares during the last quarter. Norges Bank acquired a new position in shares of Universal Display during the fourth quarter valued at about $95,924,000. Finally, Greenhouse Funds LLLP grew its holdings in shares of Universal Display by 11.2% during the fourth quarter. Greenhouse Funds LLLP now owns 583,603 shares of the semiconductor company’s stock valued at $85,323,000 after buying an additional 58,775 shares during the last quarter. 78.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $170.00 price objective on shares of Universal Display in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $190.43.

Universal Display Stock Performance

Shares of OLED stock opened at $156.27 on Friday. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of 32.49, a P/E/G ratio of 1.69 and a beta of 1.50. Universal Display Corporation has a 52 week low of $103.70 and a 52 week high of $237.00. The firm’s 50-day simple moving average is $145.74 and its two-hundred day simple moving average is $144.99.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, May 1st. The semiconductor company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.07 by $0.28. The business had revenue of $166.28 million for the quarter, compared to analyst estimates of $154.76 million. Universal Display had a net margin of 35.40% and a return on equity of 15.35%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.19 earnings per share. Analysts forecast that Universal Display Corporation will post 4.71 earnings per share for the current year.

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.15%. The ex-dividend date is Monday, June 16th. Universal Display’s dividend payout ratio is 37.42%.

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.