Teacher Retirement System of Texas Sells 439 Shares of Universal Display Co. (NASDAQ:OLED)

Teacher Retirement System of Texas lowered its stake in Universal Display Co. (NASDAQ:OLED) by 4.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 8,671 shares of the semiconductor company’s stock after selling 439 shares during the period. Teacher Retirement System of Texas’ holdings in Universal Display were worth $1,268,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in shares of Universal Display by 1.9% in the third quarter. Geode Capital Management LLC now owns 799,352 shares of the semiconductor company’s stock valued at $167,825,000 after acquiring an additional 15,015 shares during the period. Jennison Associates LLC raised its stake in Universal Display by 58.2% in the 4th quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock worth $99,975,000 after purchasing an additional 251,557 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Universal Display by 10.7% in the 4th quarter. Bank of New York Mellon Corp now owns 437,592 shares of the semiconductor company’s stock worth $63,976,000 after purchasing an additional 42,218 shares in the last quarter. Southpoint Capital Advisors LP grew its position in shares of Universal Display by 46.0% during the 3rd quarter. Southpoint Capital Advisors LP now owns 365,000 shares of the semiconductor company’s stock worth $76,614,000 after purchasing an additional 115,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Universal Display by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 341,019 shares of the semiconductor company’s stock worth $49,857,000 after purchasing an additional 7,147 shares in the last quarter. 78.19% of the stock is owned by institutional investors.

Universal Display Trading Down 3.1 %

Shares of NASDAQ OLED opened at $145.17 on Friday. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 31.22, a PEG ratio of 1.61 and a beta of 1.40. Universal Display Co. has a 12 month low of $140.17 and a 12 month high of $237.00. The stock has a 50-day moving average price of $149.47 and a two-hundred day moving average price of $168.25.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping 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 business had revenue of $162.29 million during the quarter, compared to analysts’ expectations of $152.75 million. On average, sell-side analysts predict that Universal Display Co. will post 4.71 earnings per share for the current year.

Universal Display Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.24%. This is a boost from Universal Display’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, March 17th. Universal Display’s dividend payout ratio is presently 38.71%.

Analyst Ratings Changes

Several brokerages recently issued reports on OLED. Citigroup cut their price target on Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. The Goldman Sachs Group reduced their target price on Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. 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 upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a research note on Friday, March 21st. Finally, Roth Mkm boosted their target price on shares of Universal Display from $207.00 to $213.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $190.43.

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.