Retirement Systems of Alabama Decreases Stake in Universal Display Co. (NASDAQ:OLED)

Retirement Systems of Alabama trimmed its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 83,505 shares of the semiconductor company’s stock after selling 263 shares during the quarter. Retirement Systems of Alabama owned 0.18% of Universal Display worth $17,528,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Primecap Management Co. CA increased its holdings in Universal Display by 0.4% during the 2nd quarter. Primecap Management Co. CA now owns 1,895,017 shares of the semiconductor company’s stock worth $398,427,000 after purchasing an additional 7,435 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Universal Display by 1.9% during the third quarter. Geode Capital Management LLC now owns 799,352 shares of the semiconductor company’s stock worth $167,825,000 after buying an additional 15,015 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Universal Display in the second quarter worth $127,668,000. Van ECK Associates Corp raised its holdings in Universal Display by 27.2% in the third quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company’s stock valued at $101,914,000 after acquiring an additional 108,394 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Universal Display by 27.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company’s stock valued at $98,725,000 after acquiring an additional 100,809 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Insider Activity at Universal Display

In related news, Director Lawrence Lacerte purchased 742 shares of Universal Display stock in a transaction dated Monday, November 4th. The stock was bought at an average cost of $180.89 per share, with a total value of $134,220.38. Following the purchase, the director now owns 122,372 shares in the company, valued at approximately $22,135,871.08. The trade was a 0.61 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on OLED. Oppenheimer cut their target price on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. TD Cowen reduced their target price on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Needham & Company LLC decreased their target price on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $215.63.

Universal Display Trading Up 1.1 %

OLED opened at $162.80 on Friday. The business’s 50 day moving average is $181.26 and its 200-day moving average is $194.21. The stock has a market cap of $7.73 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 1.74 and a beta of 1.39. Universal Display Co. has a twelve month low of $148.75 and a twelve month high of $237.00.

Universal Display (NASDAQ:OLED) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.21. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The firm had revenue of $161.63 million for the quarter, compared to the consensus estimate of $165.28 million. During the same quarter in the previous year, the business earned $1.08 EPS. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. As a group, analysts forecast that Universal Display Co. will post 4.8 EPS for the current year.

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Tuesday, December 17th. Universal Display’s payout ratio is currently 32.13%.

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.