VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 36,915 Universal Display Corporation $OLED

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Universal Display Corporation (NASDAQ:OLED) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,915 shares of the semiconductor company’s stock, valued at approximately $3,196,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.08% of Universal Display as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of OLED. XXEC Inc. purchased a new stake in Universal Display in the second quarter valued at approximately $2,508,286,000. BlackRock Inc. purchased a new position in Universal Display during the 2nd quarter worth approximately $373,931,000. California State Teachers Retirement System raised its position in Universal Display by 8,176.2% during the 2nd quarter. California State Teachers Retirement System now owns 4,339,198 shares of the semiconductor company’s stock worth $375,731,000 after buying an additional 4,286,768 shares during the last quarter. Primecap Management Co. CA acquired a new stake in Universal Display during the 2nd quarter valued at approximately $190,136,000. Finally, Norges Bank acquired a new stake in Universal Display during the 4th quarter valued at approximately $92,756,000. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Universal Display Price Performance

Shares of NASDAQ OLED opened at $81.16 on Friday. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 19.65 and a beta of 1.56. The firm’s 50 day simple moving average is $83.40 and its 200-day simple moving average is $90.03. Universal Display Corporation has a 12 month low of $76.42 and a 12 month high of $153.38.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.03. The firm had revenue of $152.16 million during the quarter, compared to analysts’ expectations of $157.54 million. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The business’s revenue was down 11.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.41 EPS. Analysts anticipate that Universal Display Corporation will post 4.17 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a $0.50 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. Universal Display’s dividend payout ratio is 48.43%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Zacks Research upgraded shares of Universal Display from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Oppenheimer restated an “outperform” rating and set a $120.00 target price (down from $130.00) on shares of Universal Display in a research report on Friday, July 31st. Susquehanna lowered their price target on shares of Universal Display from $110.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Weiss Ratings downgraded Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Finally, Needham & Company LLC reduced their price objective on Universal Display from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Universal Display currently has an average rating of “Hold” and a consensus target price of $116.33.

About Universal Display

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.