TIAA Trust National Association Buys New Position in Universal Display Co. (NASDAQ:OLED)

TIAA Trust National Association bought a new stake in shares of Universal Display Co. (NASDAQ:OLED) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,035 shares of the semiconductor company’s stock, valued at approximately $218,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in shares of Universal Display by 17.4% in the 4th quarter. Victory Capital Management Inc. now owns 9,124 shares of the semiconductor company’s stock worth $1,745,000 after buying an additional 1,353 shares in the last quarter. Natixis Advisors L.P. grew its holdings in Universal Display by 1.8% during the fourth quarter. Natixis Advisors L.P. now owns 12,501 shares of the semiconductor company’s stock worth $2,391,000 after acquiring an additional 218 shares during the period. Benjamin F. Edwards & Company Inc. bought a new stake in Universal Display in the fourth quarter worth about $25,000. Charles Schwab Investment Management Inc. raised its position in Universal Display by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 315,465 shares of the semiconductor company’s stock worth $60,336,000 after acquiring an additional 6,943 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in shares of Universal Display during the 4th quarter valued at about $34,000. 78.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OLED. Oppenheimer boosted 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. Needham & Company LLC upped their price target on Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Susquehanna raised their price objective on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Roth Mkm lifted their target price on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, TD Cowen upped their target price on Universal Display from $210.00 to $250.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $225.88.

Universal Display Stock Down 1.4 %

Shares of Universal Display stock opened at $184.62 on Friday. The stock has a market cap of $8.76 billion, a PE ratio of 40.13, a price-to-earnings-growth ratio of 1.99 and a beta of 1.41. Universal Display Co. has a 12 month low of $133.67 and a 12 month high of $237.00. The business has a fifty day simple moving average of $201.68 and a 200-day simple moving average of $183.71.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.04). The business had revenue of $158.50 million for 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 revenue was up 8.1% compared to the same quarter last year. During the same period last year, the firm earned $1.04 EPS. Analysts expect that Universal Display Co. will post 4.81 EPS for the current fiscal year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 annualized dividend and a yield of 0.87%. Universal Display’s dividend payout ratio is presently 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.