Louisiana State Employees Retirement System decreased its stake in Universal Display Co. (NASDAQ:OLED) by 4.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,900 shares of the semiconductor company’s stock after selling 500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Universal Display were worth $2,176,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of OLED. Meridian Wealth Management LLC purchased a new position in Universal Display during the 1st quarter valued at $31,000. Weaver Consulting Group bought a new position in shares of Universal Display in the 1st quarter worth $39,000. Regal Investment Advisors LLC purchased a new position in Universal Display during the 1st quarter worth $50,000. Pearl River Capital LLC grew its stake in Universal Display by 251.4% during the 1st quarter. Pearl River Capital LLC now owns 390 shares of the semiconductor company’s stock worth $60,000 after buying an additional 279 shares during the last quarter. Finally, CI Investments Inc. purchased a new position in Universal Display during the 4th quarter worth $65,000. Institutional investors own 75.86% of the company’s stock.
OLED stock opened at $210.73 on Friday. Universal Display Co. has a 12-month low of $78.78 and a 12-month high of $215.97. The stock has a market cap of $9.95 billion, a P/E ratio of 169.94, a price-to-earnings-growth ratio of 2.93 and a beta of 1.55. The business has a 50 day moving average of $188.27.
Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.40. The company had revenue of $87.80 million for the quarter, compared to analyst estimates of $64.59 million. Universal Display had a net margin of 28.93% and a return on equity of 12.35%. The business’s quarterly revenue was up 101.4% on a year-over-year basis. During the same period last year, the business posted $0.13 EPS. On average, research analysts predict that Universal Display Co. will post 2.44 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.19%. The ex-dividend date was Thursday, June 13th. Universal Display’s dividend payout ratio is 32.26%.
In other Universal Display news, insider Julia J. Brown sold 25,477 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $200.00, for a total transaction of $5,095,400.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Sidney D. Rosenblatt sold 33,930 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $182.23, for a total transaction of $6,183,063.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,227 shares of company stock valued at $24,676,468. Corporate insiders own 3.70% of the company’s stock.
OLED has been the topic of several research analyst reports. Susquehanna Bancshares reiterated a “neutral” rating and set a $180.00 price target on shares of Universal Display in a research note on Monday, April 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price target (up previously from $200.00) on shares of Universal Display in a report on Friday, July 12th. Zacks Investment Research lowered GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. Oppenheimer raised their price target on Costco Wholesale from $270.00 to $295.00 in a research report on Wednesday, July 10th. Finally, Citigroup restated a “buy” rating on shares of Healthequity in a research note on Friday, May 10th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $176.87.
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 flat panel displays and solid-state lighting applications. As of February 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.
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