Retirement Systems of Alabama Increases Position in Universal Display Co. (NASDAQ:OLED)

Retirement Systems of Alabama raised its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,467 shares of the semiconductor company’s stock after buying an additional 180 shares during the period. Retirement Systems of Alabama owned about 0.18% of Universal Display worth $16,155,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of OLED. Commonwealth Equity Services LLC boosted its position in shares of Universal Display by 7.6% during the third quarter. Commonwealth Equity Services LLC now owns 15,697 shares of the semiconductor company’s stock valued at $2,464,000 after buying an additional 1,107 shares during the period. Cambridge Investment Research Advisors Inc. boosted 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 purchasing an additional 162 shares during the period. Xponance Inc. boosted its holdings in shares of Universal Display by 3.7% in the third quarter. Xponance Inc. now owns 7,838 shares of the semiconductor company’s stock valued at $1,230,000 after purchasing an additional 280 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Universal Display by 1.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 21,316 shares of the semiconductor company’s stock valued at $3,346,000 after purchasing an additional 282 shares during the period. Finally, Stratos Wealth Partners LTD. purchased a new stake in shares of Universal Display in the third quarter valued at approximately $340,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. TD Cowen boosted their price target on Universal Display from $165.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Citigroup reiterated a “neutral” rating and issued a $180.00 price target (up previously from $161.00) on shares of Universal Display in a report on Friday, January 19th. Needham & Company LLC reiterated a “buy” rating and issued a $198.00 price target on shares of Universal Display in a report on Tuesday, March 26th. Finally, Oppenheimer restated an “outperform” rating and set a $200.00 target price (down previously from $210.00) on shares of Universal Display in a report on Friday, February 23rd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $199.86.

Universal Display Stock Down 2.5 %

Universal Display stock opened at $157.98 on Wednesday. The business has a fifty day moving average of $165.10 and a two-hundred day moving average of $169.17. The firm has a market cap of $7.49 billion, a P/E ratio of 37.26, a P/E/G ratio of 1.76 and a beta of 1.45. Universal Display Co. has a twelve month low of $125.98 and a twelve month high of $194.84.

Universal Display (NASDAQ:OLED) last issued 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 for 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%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 earnings per share. Equities analysts expect that Universal Display Co. will post 4.72 earnings per share for the current year.

Universal Display Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase 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 1.01%. Universal Display’s dividend payout ratio is presently 37.74%.

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.