California Public Employees Retirement System Grows Stock Holdings in Universal Display Co. (NASDAQ:OLED)

California Public Employees Retirement System lifted its stake in shares of Universal Display Co. (NASDAQ:OLED) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 85,309 shares of the semiconductor company’s stock after acquiring an additional 1,139 shares during the quarter. California Public Employees Retirement System owned approximately 0.18% of Universal Display worth $16,316,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of OLED. Commonwealth Equity Services LLC raised its position in Universal Display by 7.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 15,697 shares of the semiconductor company’s stock valued at $2,464,000 after purchasing an additional 1,107 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Universal Display by 2.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 8,190 shares of the semiconductor company’s stock valued at $1,286,000 after acquiring an additional 162 shares in the last quarter. Xponance Inc. lifted its stake in Universal Display by 3.7% in the third quarter. Xponance Inc. now owns 7,838 shares of the semiconductor company’s stock worth $1,230,000 after acquiring an additional 280 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in Universal Display by 1.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 21,316 shares of the semiconductor company’s stock worth $3,346,000 after acquiring an additional 282 shares in the last quarter. Finally, Stratos Wealth Partners LTD. bought a new position in Universal Display during the 3rd quarter worth about $340,000. Institutional investors own 78.19% of the company’s stock.

Universal Display Stock Up 2.3 %

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

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

Universal Display Increases Dividend

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

Wall Street Analysts Forecast Growth

OLED has been the topic of a number of recent research reports. Citigroup reiterated a “neutral” rating and set a $180.00 price objective (up from $161.00) on shares of Universal Display in a research note on Friday, January 19th. TD Cowen upped their price objective on Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $198.00 target price on shares of Universal Display in a research note on Tuesday, March 26th. Finally, Oppenheimer reiterated 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $199.86.

Universal Display Company 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.