New York State Common Retirement Fund Decreases Stake in Universal Display Co. (NASDAQ:OLED)

New York State Common Retirement Fund decreased its holdings in Universal Display Co. (NASDAQ:OLED) by 7.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 35,300 shares of the semiconductor company’s stock after selling 2,903 shares during the period. New York State Common Retirement Fund owned approximately 0.07% of Universal Display worth $6,751,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OLED. Vontobel Holding Ltd. grew its stake in shares of Universal Display by 6.4% in the fourth quarter. Vontobel Holding Ltd. now owns 309,804 shares of the semiconductor company’s stock valued at $59,253,000 after buying an additional 18,582 shares in the last quarter. FengHe Fund Management Pte. Ltd. purchased a new stake in shares of Universal Display during the fourth quarter valued at approximately $5,451,000. Sei Investments Co. lifted its position in shares of Universal Display by 54.5% during the third quarter. Sei Investments Co. now owns 80,538 shares of the semiconductor company’s stock worth $12,644,000 after purchasing an additional 28,415 shares in the last quarter. Barclays PLC boosted its stake in shares of Universal Display by 15.0% in the third quarter. Barclays PLC now owns 61,724 shares of the semiconductor company’s stock valued at $9,690,000 after purchasing an additional 8,041 shares during the period. Finally, XXEC Inc. acquired a new stake in Universal Display during the 3rd quarter valued at $471,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Price Performance

Shares of OLED opened at $170.82 on Friday. Universal Display Co. has a 12-month low of $131.00 and a 12-month high of $194.84. The business’s fifty day moving average price is $163.30 and its 200 day moving average price is $168.95. The stock has a market capitalization of $8.10 billion, a PE ratio of 37.13, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.05 by $0.14. The business had revenue of $165.26 million during the quarter, compared to analyst estimates of $150.75 million. Universal Display had a net margin of 36.00% and a return on equity of 15.84%. The company’s quarterly revenue was up 26.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.83 EPS. 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 business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.40 dividend. This is an increase from Universal Display’s previous quarterly dividend of $0.35. The ex-dividend date was Thursday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.94%. Universal Display’s dividend payout ratio (DPR) is 34.78%.

Analyst Upgrades and Downgrades

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

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.