State of Alaska Department of Revenue Has $1.06 Million Stake in Universal Display Co. (NASDAQ:OLED)

State of Alaska Department of Revenue lifted its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 7.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,072 shares of the semiconductor company’s stock after purchasing an additional 345 shares during the period. State of Alaska Department of Revenue’s holdings in Universal Display were worth $1,064,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of OLED. Red Spruce Capital LLC grew its stake in Universal Display by 0.7% in the second quarter. Red Spruce Capital LLC now owns 11,146 shares of the semiconductor company’s stock valued at $2,343,000 after acquiring an additional 76 shares during the period. CIBC Asset Management Inc grew its holdings in Universal Display by 7.6% during the second quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company’s stock valued at $284,000 after purchasing an additional 96 shares during the period. UMB Bank n.a. increased its holdings in Universal Display by 42.1% in the 3rd quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock worth $68,000 after acquiring an additional 96 shares during the last quarter. Bahl & Gaynor Inc. increased its stake in shares of Universal Display by 0.5% in the first quarter. Bahl & Gaynor Inc. now owns 18,645 shares of the semiconductor company’s stock worth $3,141,000 after purchasing an additional 101 shares in the last quarter. Finally, Inspire Investing LLC raised its holdings in Universal Display by 5.4% during the 1st quarter. Inspire Investing LLC now owns 2,107 shares of the semiconductor company’s stock valued at $355,000 after acquiring an additional 108 shares during the period. 78.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OLED has been the subject of a number of recent analyst reports. Oppenheimer reduced their target price on Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Roth Mkm boosted their price target on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a report on Friday, August 2nd. The Goldman Sachs Group upped their price objective on shares of Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Needham & Company LLC lowered their target price on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Susquehanna lifted their price target on shares of Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $215.63.

Universal Display Price Performance

Universal Display stock opened at $179.68 on Tuesday. Universal Display Co. has a one year low of $144.85 and a one year high of $237.00. The business’s fifty day moving average is $201.32 and its 200 day moving average is $194.52. The stock has a market capitalization of $8.53 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 1.93 and a beta of 1.43.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data 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 net margin of 36.98% and a return on equity of 15.75%. The firm had revenue of $161.63 million during the quarter, compared to analysts’ expectations of $165.28 million. During the same period in the previous year, the company earned $1.08 earnings per share. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. As a group, sell-side analysts expect that Universal Display Co. will post 4.81 EPS for the current fiscal year.

Universal Display Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Tuesday, December 17th. Universal Display’s dividend payout ratio (DPR) is presently 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.