California Public Employees Retirement System Has $16.32 Million Stock Position in Universal Display Co. (NASDAQ:OLED)

California Public Employees Retirement System raised its position in Universal Display Co. (NASDAQ:OLED) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,309 shares of the semiconductor company’s stock after buying an additional 1,139 shares during the period. California Public Employees Retirement System’s holdings in Universal Display were worth $16,316,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Universal Display by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,511,145 shares of the semiconductor company’s stock worth $708,205,000 after buying an additional 23,944 shares in the last quarter. FMR LLC raised its stake in shares of Universal Display by 10.6% in the third quarter. FMR LLC now owns 1,398,961 shares of the semiconductor company’s stock worth $219,623,000 after acquiring an additional 134,000 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Universal Display by 0.4% during the fourth quarter. Jennison Associates LLC now owns 903,068 shares of the semiconductor company’s stock worth $172,721,000 after purchasing an additional 3,397 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of Universal Display by 6.4% during the fourth quarter. Vontobel Holding Ltd. now owns 309,804 shares of the semiconductor company’s stock valued at $59,253,000 after purchasing an additional 18,582 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Universal Display by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 308,522 shares of the semiconductor company’s stock valued at $48,435,000 after purchasing an additional 3,780 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Trading Up 2.3 %

NASDAQ OLED opened at $162.02 on Tuesday. Universal Display Co. has a 12 month low of $125.98 and a 12 month high of $194.84. The stock has a 50-day simple moving average of $165.10 and a 200 day simple moving average of $169.17. The company has a market capitalization of $7.69 billion, a PE ratio of 38.21, a P/E/G ratio of 1.72 and a beta of 1.45.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, February 22nd. The semiconductor company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.11. Universal Display had a return on equity of 14.85% and a net margin of 35.22%. The company had revenue of $158.32 million during the quarter, compared to analysts’ expectations of $161.08 million. During the same period in the prior year, the business posted $1.36 EPS. Universal Display’s revenue was down 6.3% on a year-over-year basis. As a group, sell-side analysts predict that Universal Display Co. will post 4.72 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.99%. This is a boost from Universal Display’s previous quarterly dividend of $0.35. The ex-dividend date was Thursday, March 14th. Universal Display’s dividend payout ratio (DPR) is currently 37.74%.

Analyst Ratings Changes

OLED has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $198.00 price objective on shares of Universal Display in a research report on Tuesday, March 26th. TD Cowen raised their price target on Universal Display from $165.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Citigroup reiterated a “neutral” rating and issued a $180.00 price objective (up from $161.00) on shares of Universal Display in a research report on Friday, January 19th. Finally, Oppenheimer restated an “outperform” rating and set a $200.00 target price (down from $210.00) on shares of Universal Display in a research report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $199.86.

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.