Teacher Retirement System of Texas Buys 536 Shares of Universal Display Corporation $OLED

Teacher Retirement System of Texas increased its stake in shares of Universal Display Corporation (NASDAQ:OLED) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,091 shares of the semiconductor company’s stock after purchasing an additional 536 shares during the quarter. Teacher Retirement System of Texas’ holdings in Universal Display were worth $1,713,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of OLED. Envestnet Asset Management Inc. boosted its stake in Universal Display by 44.2% in the first quarter. Envestnet Asset Management Inc. now owns 286,320 shares of the semiconductor company’s stock valued at $39,936,000 after acquiring an additional 87,801 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Universal Display in the first quarter worth $242,000. DAVENPORT & Co LLC acquired a new stake in Universal Display in the first quarter worth $377,000. Strs Ohio acquired a new stake in Universal Display in the first quarter worth $819,000. Finally, Intech Investment Management LLC raised its holdings in Universal Display by 174.3% in the first quarter. Intech Investment Management LLC now owns 94,803 shares of the semiconductor company’s stock worth $13,223,000 after purchasing an additional 60,238 shares during the period. 78.19% of the stock is owned by institutional investors.

Universal Display Stock Down 2.6%

Shares of NASDAQ:OLED opened at $142.09 on Wednesday. Universal Display Corporation has a 12 month low of $103.70 and a 12 month high of $189.58. The company’s fifty day simple moving average is $143.66 and its 200 day simple moving average is $145.71. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 4.38 and a beta of 1.55.

Analyst Upgrades and Downgrades

OLED has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Universal Display in a report on Wednesday, October 8th. Zacks Research upgraded shares of Universal Display from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $184.67.

About Universal Display

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.