Louisiana State Employees Retirement System Cuts Stock Holdings in Universal Display Co. (NASDAQ:OLED)

Louisiana State Employees Retirement System trimmed its stake in shares of Universal Display Co. (NASDAQ:OLED) by 0.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 12,200 shares of the semiconductor company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Universal Display were worth $2,561,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. ORG Partners LLC bought a new position in Universal Display during the first quarter valued at $27,000. V Square Quantitative Management LLC bought a new position in Universal Display during the third quarter valued at $31,000. Geneos Wealth Management Inc. lifted its position in Universal Display by 210.7% during the first quarter. Geneos Wealth Management Inc. now owns 233 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 158 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Universal Display during the second quarter valued at $44,000. Finally, Tortoise Investment Management LLC bought a new position in Universal Display during the second quarter valued at $47,000. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Price Performance

Shares of OLED opened at $204.16 on Tuesday. Universal Display Co. has a 1-year low of $133.67 and a 1-year high of $237.00. The company has a 50-day moving average of $201.10 and a 200 day moving average of $193.45. The firm has a market capitalization of $9.69 billion, a price-to-earnings ratio of 44.38, a PEG ratio of 2.16 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The company had revenue of $158.50 million for the quarter, compared to the consensus estimate of $159.46 million. During the same quarter in the previous year, the business earned $1.04 EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities analysts anticipate that Universal Display Co. will post 4.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

OLED has been the subject of several research reports. Oppenheimer increased their price objective on shares of Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, July 3rd. Needham & Company LLC increased their price objective on shares of Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Roth Mkm increased their price objective on shares of Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. The Goldman Sachs Group raised their target price on shares of Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, TD Cowen raised their target price on shares of Universal Display from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $225.88.

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.