New York State Common Retirement Fund Purchases 16,517 Shares of Universal Display Corporation $OLED

New York State Common Retirement Fund grew its position in Universal Display Corporation (NASDAQ:OLED) by 73.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,014 shares of the semiconductor company’s stock after purchasing an additional 16,517 shares during the period. New York State Common Retirement Fund owned about 0.08% of Universal Display worth $5,604,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Universal Display during the 2nd quarter worth approximately $124,480,000. Primecap Management Co. CA grew its holdings in shares of Universal Display by 20.7% in the second quarter. Primecap Management Co. CA now owns 2,215,308 shares of the semiconductor company’s stock valued at $342,176,000 after acquiring an additional 379,586 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new stake in shares of Universal Display during the third quarter valued at approximately $32,962,000. Rafferty Asset Management LLC lifted its holdings in Universal Display by 63.2% during the second quarter. Rafferty Asset Management LLC now owns 574,161 shares of the semiconductor company’s stock worth $88,685,000 after acquiring an additional 222,327 shares during the period. Finally, Tredje AP fonden purchased a new position in Universal Display in the second quarter worth $30,519,000. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Universal Display Stock Down 4.6%

Shares of NASDAQ:OLED opened at $113.05 on Friday. The firm has a market capitalization of $5.37 billion, a PE ratio of 24.36, a P/E/G ratio of 3.33 and a beta of 1.63. The company has a 50-day moving average price of $119.44 and a two-hundred day moving average price of $132.42. Universal Display Corporation has a twelve month low of $103.70 and a twelve month high of $164.29.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.27). The business had revenue of $139.61 million during the quarter, compared to the consensus estimate of $165.56 million. Universal Display had a net margin of 34.65% and a return on equity of 14.10%. The business’s revenue for the quarter was down 13.6% on a year-over-year basis. During the same period last year, the firm earned $1.40 EPS. Analysts anticipate that Universal Display Corporation will post 4.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on OLED shares. Weiss Ratings restated a “hold (c-)” rating on shares of Universal Display in a research note on Wednesday, December 24th. Citigroup reduced their price target on shares of Universal Display from $150.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, January 27th. Zacks Research lowered shares of Universal Display from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 target price on shares of Universal Display in a research note on Monday, December 22nd. Finally, Wall Street Zen raised shares of Universal Display from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $163.25.

Universal Display Profile

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.