Illinois Municipal Retirement Fund Buys Shares of 3,568 Universal Display Co. (NASDAQ:OLED)

Illinois Municipal Retirement Fund bought a new stake in shares of Universal Display Co. (NASDAQ:OLED) in the fourth quarter, Holdings Channel reports. The fund bought 3,568 shares of the semiconductor company’s stock, valued at approximately $682,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Commonwealth Equity Services LLC grew its holdings in shares of Universal Display by 7.6% during the third quarter. Commonwealth Equity Services LLC now owns 15,697 shares of the semiconductor company’s stock worth $2,464,000 after purchasing an additional 1,107 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Universal Display by 2.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 8,190 shares of the semiconductor company’s stock worth $1,286,000 after purchasing an additional 162 shares in the last quarter. Xponance Inc. grew its holdings in shares of Universal Display by 3.7% during the third quarter. Xponance Inc. now owns 7,838 shares of the semiconductor company’s stock worth $1,230,000 after purchasing an additional 280 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Universal Display by 1.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 21,316 shares of the semiconductor company’s stock worth $3,346,000 after purchasing an additional 282 shares in the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Universal Display during the third quarter worth about $340,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Price Performance

NASDAQ:OLED opened at $162.02 on Tuesday. Universal Display Co. has a 1-year low of $125.98 and a 1-year high of $194.84. The business has a 50 day moving average of $165.10 and a 200 day moving average of $169.17. The company has a market capitalization of $7.69 billion, a price-to-earnings ratio of 38.21, a PEG ratio of 1.72 and a beta of 1.45.

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

Universal Display Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.60 annualized dividend and a yield of 0.99%. This is an increase from Universal Display’s previous quarterly dividend of $0.35. Universal Display’s payout ratio is presently 37.74%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $198.00 price objective on shares of Universal Display in a report on Tuesday, March 26th. Citigroup reissued a “neutral” rating and set a $180.00 price objective (up previously from $161.00) on shares of Universal Display in a report on Friday, January 19th. Oppenheimer restated an “outperform” rating and issued a $200.00 target price (down previously from $210.00) on shares of Universal Display in a research report on Friday, February 23rd. Finally, TD Cowen boosted their target price on Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Universal Display presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.86.

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 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.