New York State Common Retirement Fund increased its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 0.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,100 shares of the semiconductor company’s stock after purchasing an additional 500 shares during the quarter. New York State Common Retirement Fund’s holdings in Universal Display were worth $15,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in OLED. BlackRock Inc. lifted its holdings in shares of Universal Display by 108.6% during the fourth quarter. BlackRock Inc. now owns 3,754,887 shares of the semiconductor company’s stock valued at $351,345,000 after purchasing an additional 1,954,515 shares in the last quarter. Norges Bank bought a new position in shares of Universal Display during the fourth quarter valued at $40,599,000. Bank of New York Mellon Corp lifted its holdings in shares of Universal Display by 178.8% during the fourth quarter. Bank of New York Mellon Corp now owns 455,871 shares of the semiconductor company’s stock valued at $42,656,000 after purchasing an additional 292,382 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Universal Display by 7,230.1% during the fourth quarter. Principal Financial Group Inc. now owns 182,374 shares of the semiconductor company’s stock valued at $17,065,000 after purchasing an additional 179,886 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Universal Display by 160.2% during the fourth quarter. Deutsche Bank AG now owns 276,313 shares of the semiconductor company’s stock valued at $25,852,000 after purchasing an additional 170,117 shares in the last quarter. 75.98% of the stock is currently owned by hedge funds and other institutional investors.

Universal Display stock opened at $146.93 on Friday. The firm has a market cap of $7.05 billion, a P/E ratio of 84.38, a PEG ratio of 2.04 and a beta of 1.41. Universal Display Co. has a one year low of $78.75 and a one year high of $190.00.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.40. The company had revenue of $87.80 million during the quarter, compared to analysts’ expectations of $64.59 million. Universal Display had a return on equity of 12.35% and a net margin of 28.93%. Universal Display’s revenue for the quarter was up 101.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 earnings per share. As a group, equities analysts forecast that Universal Display Co. will post 2.44 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend is Thursday, June 13th. Universal Display’s dividend payout ratio (DPR) is presently 32.26%.

OLED has been the topic of a number of research analyst reports. Deutsche Bank upped their price target on Universal Display to $140.00 in a report on Friday, February 22nd. Roth Capital set a $194.00 price target on Universal Display and gave the company a “buy” rating in a report on Friday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 price target (up from $140.00) on shares of Universal Display in a report on Friday, May 3rd. Zacks Investment Research raised Universal Display from a “hold” rating to a “buy” rating and set a $174.00 price target on the stock in a report on Tuesday, March 26th. Finally, ValuEngine raised Universal Display from a “hold” rating to a “buy” rating in a report on Saturday, February 23rd. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $160.44.

In other Universal Display news, Director Rosemarie B. Greco sold 4,425 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $171.13, for a total value of $757,250.25. Following the completion of the sale, the director now owns 6,793 shares in the company, valued at $1,162,486.09. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Janice K. Mahon sold 20,819 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $170.24, for a total value of $3,544,226.56. Following the completion of the sale, the vice president now owns 37,039 shares of the company’s stock, valued at approximately $6,305,519.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,533 shares of company stock valued at $8,541,217. 3.70% of the stock is owned by company insiders.

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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 flat panel displays and solid-state lighting applications. As of February 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.

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Institutional Ownership by Quarter for Universal Display (NASDAQ:OLED)

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