New York State Common Retirement Fund Sells 1,500 Shares of Universal Display Co. (NASDAQ:OLED)

New York State Common Retirement Fund cut its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 5.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,997 shares of the semiconductor company’s stock after selling 1,500 shares during the period. New York State Common Retirement Fund’s holdings in Universal Display were worth $3,508,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OLED. Assetmark Inc. bought a new position in shares of Universal Display in the 3rd quarter valued at $29,000. Brooklyn Investment Group bought a new position in shares of Universal Display in the 3rd quarter valued at $30,000. Nisa Investment Advisors LLC lifted its stake in shares of Universal Display by 60.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 65 shares during the last quarter. True Wealth Design LLC bought a new position in shares of Universal Display in the 3rd quarter valued at $36,000. Finally, Blue Trust Inc. lifted its stake in shares of Universal Display by 401.9% in the 4th quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 209 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors.

Universal Display Stock Up 1.7 %

NASDAQ OLED opened at $153.62 on Friday. The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of 33.04, a PEG ratio of 1.61 and a beta of 1.39. Universal Display Co. has a twelve month low of $140.17 and a twelve month high of $237.00. The stock has a fifty day simple moving average of $148.76 and a 200 day simple moving average of $173.39.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.14. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The firm had revenue of $162.29 million during the quarter, compared to the consensus estimate of $152.75 million. Research analysts expect that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.45 per share. This is an increase from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Monday, March 17th. Universal Display’s dividend payout ratio (DPR) is presently 38.71%.

Analyst Upgrades and Downgrades

OLED has been the subject of a number of research reports. Roth Mkm increased their price target on Universal Display from $207.00 to $213.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Susquehanna dropped their price target on Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. The Goldman Sachs Group dropped their price target on Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Oppenheimer decreased their price objective on Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, January 2nd. Finally, Citigroup decreased their price objective on Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Universal Display presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.43.

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 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.