VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Universal Display Corporation $OLED

by · The Cerbat Gem

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Universal Display Corporation (NASDAQ:OLED – Free Report) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 36,915 shares of the semiconductor company’s stock, valued at approximately $3,196,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. XXEC Inc. purchased a new position in Universal Display during the second quarter valued at $2,508,286,000. California State Teachers Retirement System increased its stake in shares of Universal Display by 8,176.2% during the second quarter. California State Teachers Retirement System now owns 4,339,198 shares of the semiconductor company’s stock worth $375,731,000 after purchasing an additional 4,286,768 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Universal Display during the 2nd quarter worth about $373,931,000. Primecap Management Co. CA acquired a new position in shares of Universal Display during the 2nd quarter worth about $190,136,000. Finally, State Street Corp lifted its stake in Universal Display by 4.3% in the 4th quarter. State Street Corp now owns 1,694,779 shares of the semiconductor company’s stock valued at $197,916,000 after buying an additional 69,163 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on OLED shares. Weiss Ratings lowered Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Citigroup reduced their price objective on Universal Display from $100.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. Susquehanna lowered their target price on shares of Universal Display from $110.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. Zacks Research raised shares of Universal Display from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $120.00 target price (down from $130.00) on shares of Universal Display in a report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $116.33.

Check Out Our Latest Stock Analysis on OLED

Universal Display Stock Performance

NASDAQ:OLED opened at $81.16 on Friday. The stock has a market capitalization of $3.73 billion, a P/E ratio of 19.65 and a beta of 1.56. The company has a 50 day moving average price of $83.40 and a 200 day moving average price of $90.03. Universal Display Corporation has a fifty-two week low of $76.42 and a fifty-two week high of $153.38.

Universal Display (NASDAQ:OLED – Get Free Report) last announced its earnings results on Thursday, July 30th. The semiconductor company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.03. The company had revenue of $152.16 million during the quarter, compared to analysts’ expectations of $157.54 million. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.Universal Display’s revenue for the quarter was down 11.4% on a year-over-year basis. During the same period last year, the business posted $1.41 EPS. Research analysts forecast that Universal Display Corporation will post 4.17 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.5%. The ex-dividend date is Wednesday, September 16th. Universal Display’s payout ratio is 48.43%.

Universal Display Profile

(Free Report)

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.

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