Utah Retirement Systems increased its position in shares of Universal Display Co. (NASDAQ:OLED – Get Rating) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,820 shares of the semiconductor company’s stock after buying an additional 100 shares during the quarter. Utah Retirement Systems’ holdings in Universal Display were worth $738,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in OLED. Point72 Asset Management L.P. acquired a new position in Universal Display during the 3rd quarter worth approximately $23,973,000. Vanguard Group Inc. raised its stake in Universal Display by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 4,266,391 shares of the semiconductor company’s stock worth $712,274,000 after buying an additional 241,855 shares during the period. Renaissance Technologies LLC raised its stake in shares of Universal Display by 116.0% in the second quarter. Renaissance Technologies LLC now owns 346,073 shares of the semiconductor company’s stock worth $35,002,000 after purchasing an additional 185,834 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Universal Display in the third quarter worth approximately $16,847,000. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Universal Display by 14,581.1% in the second quarter. Cubist Systematic Strategies LLC now owns 135,947 shares of the semiconductor company’s stock worth $13,750,000 after purchasing an additional 135,021 shares during the last quarter. 73.43% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have recently commented on the company. Cowen increased their price objective on Universal Display from $130.00 to $148.00 and gave the stock an “outperform” rating in a research note on Friday, February 24th. Citigroup increased their price objective on Universal Display from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, February 27th. Susquehanna raised Universal Display from a “negative” rating to a “neutral” rating and increased their price objective for the stock from $82.00 to $135.00 in a research note on Thursday, January 19th. Oppenheimer increased their price objective on Universal Display from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, February 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Universal Display from $130.00 to $150.00 in a research report on Thursday, February 16th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Universal Display currently has an average rating of “Moderate Buy” and a consensus target price of $146.90.
Universal Display Trading Up 0.4 %
Universal Display (NASDAQ:OLED – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The semiconductor company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.43. Universal Display had a return on equity of 17.56% and a net margin of 34.07%. The business had revenue of $169.00 million during the quarter, compared to analyst estimates of $148.97 million. During the same period in the prior year, the company earned $0.96 earnings per share. Universal Display’s revenue was up 15.6% compared to the same quarter last year. As a group, equities research analysts predict that Universal Display Co. will post 3.76 earnings per share for the current year.
Universal Display Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.02%. This is a positive change from Universal Display’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, March 16th. Universal Display’s dividend payout ratio is 27.27%.
Universal Display Profile
Universal Display Corp. engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials. It also develops and licenses proprietary OLED technologies to manufacturers of products for display applications, such as cell phones, portable media devices, tablets, laptop computers and televisions, and specialty and general lighting products.
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