Public Employees Retirement System of Ohio Cuts Holdings in Universal Display Co. (NASDAQ:OLED)

Public Employees Retirement System of Ohio reduced its holdings in Universal Display Co. (NASDAQ:OLED) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,112 shares of the semiconductor company’s stock after selling 840 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Universal Display were worth $3,592,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of OLED. Nisa Investment Advisors LLC lifted its holdings in Universal Display by 60.2% in the third 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 period. CIBC Asset Management Inc grew its position 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 worth $284,000 after buying an additional 96 shares during the period. UMB Bank n.a. increased its holdings in Universal Display by 42.1% in the third quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock valued at $68,000 after buying an additional 96 shares in the last quarter. Glenmede Trust Co. NA lifted its position in shares of Universal Display by 1.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 6,046 shares of the semiconductor company’s stock valued at $1,269,000 after acquiring an additional 97 shares during the period. Finally, Prospera Financial Services Inc boosted its stake in shares of Universal Display by 4.4% during the 3rd quarter. Prospera Financial Services Inc now owns 2,576 shares of the semiconductor company’s stock worth $542,000 after acquiring an additional 108 shares in the last quarter. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Universal Display Stock Up 1.1 %

Shares of NASDAQ:OLED opened at $162.80 on Monday. The company has a market capitalization of $7.73 billion, a P/E ratio of 32.69, a P/E/G ratio of 1.74 and a beta of 1.39. Universal Display Co. has a 52-week low of $148.75 and a 52-week high of $237.00. The stock’s fifty day simple moving average is $181.26 and its 200-day simple moving average is $194.34.

Universal Display (NASDAQ:OLED) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.21. The company had revenue of $161.63 million for the quarter, compared to analyst estimates of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.08 EPS. On average, sell-side analysts anticipate that Universal Display Co. will post 4.8 earnings per share for the current year.

Universal Display Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.40 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $1.60 annualized dividend and a yield of 0.98%. Universal Display’s dividend payout ratio (DPR) is presently 32.13%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on OLED shares. TD Cowen dropped their price objective on Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Oppenheimer dropped their price target on Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, Needham & Company LLC decreased their price objective on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Universal Display has a consensus rating of “Moderate Buy” and a consensus target price of $215.63.

Insiders Place Their Bets

In other Universal Display news, Director Lawrence Lacerte bought 742 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the purchase, the director now owns 122,372 shares of the company’s stock, valued at $22,135,871.08. This trade represents a 0.61 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Universal Display 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.