Public Employees Retirement Association of Colorado Has $989,000 Position in Universal Display Co. (NASDAQ:OLED)

Public Employees Retirement Association of Colorado reduced its stake in Universal Display Co. (NASDAQ:OLED) by 9.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,704 shares of the semiconductor company’s stock after selling 500 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Universal Display were worth $989,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OLED. Cape Investment Advisory Inc. boosted its holdings in Universal Display by 1,977.8% in the fourth quarter. Cape Investment Advisory Inc. now owns 187 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 178 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Universal Display by 13.5% during the fourth quarter. Hsbc Holdings PLC now owns 14,939 shares of the semiconductor company’s stock worth $2,861,000 after purchasing an additional 1,780 shares during the period. Stifel Financial Corp increased its stake in Universal Display by 1.3% during the 4th quarter. Stifel Financial Corp now owns 41,599 shares of the semiconductor company’s stock valued at $7,956,000 after purchasing an additional 554 shares in the last quarter. Allianz Asset Management GmbH increased its stake in Universal Display by 99.6% during the 4th quarter. Allianz Asset Management GmbH now owns 9,657 shares of the semiconductor company’s stock valued at $1,847,000 after purchasing an additional 4,818 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new position in shares of Universal Display during the fourth quarter valued at about $1,602,000. 78.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OLED. Needham & Company LLC upped their target price on shares of Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Oppenheimer upped their target price on shares of Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, July 3rd. TD Cowen upped 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. The Goldman Sachs Group upped 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, Susquehanna upped their target price on shares of Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Universal Display presently has an average rating of “Moderate Buy” and a consensus target price of $225.88.

Universal Display Stock Performance

NASDAQ:OLED opened at $214.35 on Wednesday. The firm has a market cap of $10.17 billion, a price-to-earnings ratio of 46.60, a price-to-earnings-growth ratio of 2.17 and a beta of 1.41. Universal Display Co. has a 52 week low of $133.67 and a 52 week high of $237.00. The firm has a 50-day moving average price of $197.82 and a two-hundred day moving average price of $186.43.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.04). The firm had revenue of $158.50 million during the quarter, compared to analysts’ expectations of $159.46 million. Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business posted $1.04 EPS. As a group, sell-side analysts forecast that Universal Display Co. will post 4.81 earnings per share for the current year.

Universal Display Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Monday, September 16th. Universal Display’s dividend payout ratio is currently 34.78%.

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.