Universal Display Co. (NASDAQ:OLED) Holdings Increased by State of Michigan Retirement System

State of Michigan Retirement System grew its stake in shares of Universal Display Co. (NASDAQ:OLED) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,705 shares of the semiconductor company’s stock after buying an additional 300 shares during the quarter. State of Michigan Retirement System’s holdings in Universal Display were worth $1,803,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OLED. Norges Bank bought a new stake in shares of Universal Display during the 4th quarter worth about $101,088,000. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Universal Display during the 4th quarter worth about $29,797,000. TimesSquare Capital Management LLC raised its position in shares of Universal Display by 327.5% during the 4th quarter. TimesSquare Capital Management LLC now owns 198,899 shares of the semiconductor company’s stock worth $38,041,000 after buying an additional 152,374 shares in the last quarter. First Trust Advisors LP raised its position in shares of Universal Display by 20.7% during the 4th quarter. First Trust Advisors LP now owns 449,628 shares of the semiconductor company’s stock worth $85,996,000 after buying an additional 76,967 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Universal Display by 29.8% during the 4th quarter. Wellington Management Group LLP now owns 330,262 shares of the semiconductor company’s stock worth $63,166,000 after buying an additional 75,828 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Mauro Premutico sold 8,202 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the sale, the senior vice president now owns 28,743 shares in the company, valued at $5,082,337.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Mauro Premutico sold 8,202 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the transaction, the senior vice president now directly owns 28,743 shares of the company’s stock, valued at $5,082,337.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Julia J. Brown sold 10,358 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $175.00, for a total transaction of $1,812,650.00. Following the transaction, the executive vice president now directly owns 56,624 shares in the company, valued at $9,909,200. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on OLED shares. Needham & Company LLC boosted 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. 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $213.29.

Universal Display Price Performance

NASDAQ OLED opened at $217.98 on Friday. Universal Display Co. has a 12 month low of $133.67 and a 12 month high of $219.31. The company’s 50 day simple moving average is $185.88 and its 200 day simple moving average is $177.50. The company has a market capitalization of $10.34 billion, a P/E ratio of 47.39, a PEG ratio of 2.36 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.14. Universal Display had a net margin of 36.00% and a return on equity of 15.57%. The business had revenue of $165.26 million for the quarter, compared to analyst estimates of $150.75 million. During the same quarter in the previous year, the business earned $0.83 earnings per share. The firm’s revenue was up 26.7% compared to the same quarter last year. On average, analysts anticipate that Universal Display Co. will post 4.75 earnings per share for the current year.

Universal Display Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.73%. Universal Display’s dividend payout ratio is currently 34.78%.

Universal Display 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.