Public Employees Retirement System of Ohio Sells 2,113 Shares of Universal Display Co. (NASDAQ:OLED)

Public Employees Retirement System of Ohio lessened its position in Universal Display Co. (NASDAQ:OLEDFree Report) by 9.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,202 shares of the semiconductor company’s stock after selling 2,113 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Universal Display were worth $3,015,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new stake in shares of Universal Display during the 3rd quarter valued at $31,000. Tyler Stone Wealth Management purchased a new stake in Universal Display in the second quarter worth about $43,000. Fifth Third Bancorp increased its stake 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 valued at $93,000 after purchasing an additional 109 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Universal Display by 25.4% during the third quarter. Lazard Asset Management LLC now owns 598 shares of the semiconductor company’s stock valued at $93,000 after purchasing an additional 121 shares during the last quarter. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of Universal Display in the 1st quarter worth approximately $93,000. 75.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Oppenheimer reissued an “outperform” rating and issued a $200.00 target price (down from $210.00) on shares of Universal Display in a report on Friday, February 23rd. TD Cowen lifted their target price on shares of Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Citigroup reiterated a “neutral” rating and issued a $180.00 target price (up previously from $161.00) on shares of Universal Display in a research note on Friday, January 19th. TheStreet upgraded shares of Universal Display from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Finally, Bank of America upgraded Universal Display from a “neutral” rating to a “buy” rating and increased their target price for the company from $160.00 to $250.00 in a research note on Monday, December 18th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.86.

View Our Latest Stock Analysis on Universal Display

Universal Display Trading Up 1.0 %

Shares of OLED opened at $166.17 on Friday. The firm has a fifty day simple moving average of $173.99 and a two-hundred day simple moving average of $168.64. The firm has a market cap of $7.87 billion, a PE ratio of 39.19, a P/E/G ratio of 1.76 and a beta of 1.45. Universal Display Co. has a 1-year low of $125.98 and a 1-year high of $194.84.

Universal Display (NASDAQ:OLEDGet Free Report) last announced its earnings results on Thursday, February 22nd. The semiconductor company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.11. The business had revenue of $158.32 million for the quarter, compared to analysts’ expectations of $161.08 million. Universal Display had a return on equity of 14.85% and a net margin of 35.22%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the firm posted $1.36 earnings per share. As a group, research analysts forecast that Universal Display Co. will post 4.72 EPS for the current fiscal year.

Universal Display Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.96%. This is a positive change from Universal Display’s previous quarterly dividend of $0.35. The ex-dividend date is Thursday, March 14th. Universal Display’s payout ratio is 37.74%.

Universal Display Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Universal Display (NASDAQ:OLED)

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