Arizona State Retirement System Raises Holdings in Universal Display Co. (NASDAQ:OLED)

Arizona State Retirement System boosted its stake in Universal Display Co. (NASDAQ:OLED) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,065 shares of the semiconductor company’s stock after purchasing an additional 88 shares during the period. Arizona State Retirement System’s holdings in Universal Display were worth $1,910,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OLED. Jennison Associates LLC increased its stake in shares of Universal Display by 58.2% in the fourth quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock worth $99,975,000 after buying an additional 251,557 shares during the period. Citigroup Inc. grew its holdings in Universal Display by 1,387.6% in the 3rd quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company’s stock worth $54,936,000 after acquiring an additional 244,129 shares during the last quarter. Barclays PLC increased its position in shares of Universal Display by 753.8% in the third quarter. Barclays PLC now owns 212,518 shares of the semiconductor company’s stock valued at $44,608,000 after acquiring an additional 187,627 shares during the period. Southpoint Capital Advisors LP raised its stake in shares of Universal Display by 46.0% during the third quarter. Southpoint Capital Advisors LP now owns 365,000 shares of the semiconductor company’s stock valued at $76,614,000 after acquiring an additional 115,000 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Universal Display by 95.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 189,603 shares of the semiconductor company’s stock worth $27,720,000 after purchasing an additional 92,410 shares during the period. Institutional investors own 78.19% of the company’s stock.

Universal Display Price Performance

Shares of NASDAQ:OLED opened at $149.65 on Wednesday. The firm’s 50 day simple moving average is $148.96 and its two-hundred day simple moving average is $171.39. The company has a market capitalization of $7.10 billion, a P/E ratio of 32.18, a P/E/G ratio of 1.61 and a beta of 1.40. Universal Display Co. has a 1-year low of $140.17 and a 1-year high of $237.00.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.14. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The company had revenue of $162.29 million for the quarter, compared to analysts’ expectations of $152.75 million. On average, sell-side analysts anticipate that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, March 17th. This represents a $1.80 annualized dividend and a dividend yield of 1.20%. This is a boost from Universal Display’s previous quarterly dividend of $0.40. Universal Display’s dividend payout ratio (DPR) is currently 38.71%.

Analyst Ratings Changes

A number of brokerages recently issued reports on OLED. Needham & Company LLC reduced their price target on Universal Display from $215.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Citigroup reduced their target price on Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Oppenheimer dropped their price target on Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, January 2nd. StockNews.com downgraded shares of Universal Display from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Finally, Susquehanna decreased their price objective on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $190.43.

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.