California Public Employees Retirement System Lowers Holdings in Universal Display Co. (NASDAQ:OLED)

California Public Employees Retirement System decreased its position in Universal Display Co. (NASDAQ:OLED) by 4.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 89,380 shares of the semiconductor company’s stock after selling 4,158 shares during the quarter. California Public Employees Retirement System’s holdings in Universal Display were worth $13,067,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of OLED. CIBC Asset Management Inc boosted its position in shares of Universal Display by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,473 shares of the semiconductor company’s stock valued at $215,000 after buying an additional 73 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Universal Display by 0.7% during the 4th quarter. Arizona State Retirement System now owns 13,065 shares of the semiconductor company’s stock valued at $1,910,000 after acquiring an additional 88 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Universal Display by 0.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,091 shares of the semiconductor company’s stock worth $1,475,000 after acquiring an additional 90 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of Universal Display by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the semiconductor company’s stock valued at $1,798,000 after purchasing an additional 100 shares during the last quarter. Finally, OLD National Bancorp IN lifted its position in Universal Display by 4.3% during the fourth quarter. OLD National Bancorp IN now owns 2,527 shares of the semiconductor company’s stock valued at $369,000 after purchasing an additional 104 shares during the period. 78.19% of the stock is currently owned by institutional investors.

Universal Display Trading Down 3.5 %

NASDAQ OLED opened at $113.42 on Friday. Universal Display Co. has a 12 month low of $109.66 and a 12 month high of $237.00. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 1.61 and a beta of 1.40. The company’s 50 day moving average is $147.52 and its two-hundred day moving average is $165.44.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.08 by $0.14. The firm had revenue of $162.29 million for the quarter, compared to the consensus estimate of $152.75 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. Sell-side analysts forecast that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.45 per share. The ex-dividend date was Monday, March 17th. This represents a $1.80 annualized dividend and a dividend yield of 1.59%. This is a boost from Universal Display’s previous quarterly dividend of $0.40. Universal Display’s dividend payout ratio (DPR) is currently 38.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Susquehanna decreased their target price on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Oppenheimer reduced their price objective on Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, January 2nd. StockNews.com raised shares of Universal Display from a “sell” rating to a “hold” rating in a research report on Friday, March 21st. Roth Mkm raised their price objective on shares of Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Citigroup reduced their target price on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $190.43.

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.