Universal Display Co. (NASDAQ:OLED) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its position in shares of Universal Display Co. (NASDAQ:OLED) by 2.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 15,630 shares of the semiconductor company’s stock after selling 384 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Universal Display were worth $3,281,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in OLED. Empowered Funds LLC acquired a new stake in shares of Universal Display during the first quarter worth $202,000. Inspire Investing LLC lifted its holdings in Universal Display by 5.4% in the first quarter. Inspire Investing LLC now owns 2,107 shares of the semiconductor company’s stock worth $355,000 after acquiring an additional 108 shares during the last quarter. US Bancorp DE boosted its stake in Universal Display by 32.8% in the first quarter. US Bancorp DE now owns 2,601 shares of the semiconductor company’s stock valued at $438,000 after acquiring an additional 643 shares during the period. Avantax Advisory Services Inc. grew its holdings in shares of Universal Display by 382.5% during the first quarter. Avantax Advisory Services Inc. now owns 5,298 shares of the semiconductor company’s stock valued at $892,000 after purchasing an additional 4,200 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Universal Display by 16.2% during the 1st quarter. ProShare Advisors LLC now owns 8,640 shares of the semiconductor company’s stock worth $1,455,000 after purchasing an additional 1,202 shares during the period. 78.19% of the stock is currently owned by institutional investors.

Insider Activity at Universal Display

In other Universal Display news, Director Lawrence Lacerte acquired 742 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average price of $180.89 per share, with a total value of $134,220.38. Following the completion of the transaction, the director now owns 122,372 shares in the company, valued at $22,135,871.08. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by company insiders.

Universal Display Price Performance

NASDAQ OLED opened at $172.55 on Wednesday. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 1.93 and a beta of 1.43. The company has a 50 day simple moving average of $199.91 and a 200-day simple moving average of $195.77. Universal Display Co. has a 52-week low of $148.75 and a 52-week high of $237.00.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 EPS 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 business had revenue of $161.63 million for the quarter, compared to analysts’ expectations of $165.28 million. During the same period in the previous year, the company posted $1.08 EPS. Universal Display’s revenue was up 14.6% on a year-over-year basis. On average, analysts predict that Universal Display Co. will post 4.79 EPS for the current year.

Universal Display Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.60 annualized dividend and a dividend yield of 0.93%. Universal Display’s dividend payout ratio is 32.13%.

Analysts Set New Price Targets

A number of brokerages recently commented on OLED. The Goldman Sachs Group upped their price objective on Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Needham & Company LLC reduced their target price on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Susquehanna boosted their price objective on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. TD Cowen decreased their target price on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, Roth Mkm boosted their price target on shares of Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $215.63.

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.