3,568 Shares in Universal Display Co. (NASDAQ:OLED) Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund bought a new position in shares of Universal Display Co. (NASDAQ:OLED) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,568 shares of the semiconductor company’s stock, valued at approximately $682,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Universal Display by 0.5% during the third quarter. Vanguard Group Inc. now owns 4,511,145 shares of the semiconductor company’s stock worth $708,205,000 after buying an additional 23,944 shares during the last quarter. FMR LLC boosted its position in Universal Display by 10.6% during the third quarter. FMR LLC now owns 1,398,961 shares of the semiconductor company’s stock worth $219,623,000 after purchasing an additional 134,000 shares during the period. Jennison Associates LLC boosted its position in Universal Display by 0.4% during the fourth quarter. Jennison Associates LLC now owns 903,068 shares of the semiconductor company’s stock worth $172,721,000 after purchasing an additional 3,397 shares during the period. Vontobel Holding Ltd. boosted its position in Universal Display by 6.4% during the fourth quarter. Vontobel Holding Ltd. now owns 309,804 shares of the semiconductor company’s stock worth $59,253,000 after purchasing an additional 18,582 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Universal Display by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 308,522 shares of the semiconductor company’s stock worth $48,435,000 after purchasing an additional 3,780 shares during the period. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Universal Display Stock Performance

Shares of Universal Display stock opened at $162.02 on Tuesday. The stock has a market cap of $7.69 billion, a PE ratio of 38.21, a PEG ratio of 1.72 and a beta of 1.45. The firm has a 50-day moving average of $165.10 and a 200-day moving average of $169.17. Universal Display Co. has a 52-week low of $125.98 and a 52-week high of $194.84.

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

Universal Display Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Thursday, March 14th. This is an increase from Universal Display’s previous quarterly dividend of $0.35. Universal Display’s payout ratio is 37.74%.

About Universal Display

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.