Public Employees Retirement System of Ohio grew its position in Universal Display Co. (NASDAQ:OLED) by 106.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,438 shares of the semiconductor company’s stock after acquiring an additional 13,089 shares during the quarter. Public Employees Retirement System of Ohio owned 0.05% of Universal Display worth $4,784,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in OLED. TCI Wealth Advisors Inc. raised its holdings in shares of Universal Display by 1,458.3% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 187 shares of the semiconductor company’s stock worth $35,000 after buying an additional 175 shares in the last quarter. Capital Investment Advisory Services LLC raised its holdings in shares of Universal Display by 94.0% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 194 shares of the semiconductor company’s stock worth $40,000 after buying an additional 94 shares in the last quarter. Meridian Wealth Management LLC acquired a new position in shares of Universal Display in the 1st quarter worth approximately $31,000. Weaver Consulting Group acquired a new position in shares of Universal Display in the 1st quarter worth approximately $39,000. Finally, Regal Investment Advisors LLC acquired a new position in shares of Universal Display in the 1st quarter worth approximately $50,000. Institutional investors own 69.34% of the company’s stock.

A number of brokerages have recently issued reports on OLED. Oppenheimer cut Universal Display from an “outperform” rating to a “market perform” rating and set a $190.50 target price for the company. in a report on Wednesday, July 10th. They noted that the move was a valuation call. Citigroup increased their target price on Universal Display from $180.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Roth Capital increased their target price on Universal Display from $172.00 to $206.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Berenberg Bank began coverage on Universal Display in a report on Wednesday, July 24th. They issued a “hold” rating and a $192.00 target price for the company. Finally, BidaskClub cut Universal Display from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Universal Display currently has an average rating of “Hold” and an average target price of $183.29.

In other news, insider Steven V. Abramson sold 30,000 shares of Universal Display stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $179.64, for a total value of $5,389,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Julia J. Brown sold 25,477 shares of Universal Display stock in a transaction on Friday, July 12th. The shares were sold at an average price of $200.00, for a total value of $5,095,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 194,907 shares of company stock valued at $39,103,772 over the last ninety days. Insiders own 3.70% of the company’s stock.

OLED stock traded up $1.24 during midday trading on Friday, reaching $184.73. 10,106 shares of the company’s stock traded hands, compared to its average volume of 594,457. The company has a 50-day simple moving average of $209.64 and a two-hundred day simple moving average of $178.29. Universal Display Co. has a 1-year low of $78.78 and a 1-year high of $230.32. The company has a market cap of $8.96 billion, a price-to-earnings ratio of 148.98, a PEG ratio of 2.36 and a beta of 1.53.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.46. Universal Display had a return on equity of 16.52% and a net margin of 33.08%. The firm had revenue of $118.17 million during the quarter, compared to analysts’ expectations of $79.26 million. During the same period last year, the firm posted $0.23 EPS. The business’s revenue was up 110.5% on a year-over-year basis. On average, sell-side analysts anticipate that Universal Display Co. will post 2.68 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.22%. Universal Display’s dividend payout ratio is 32.26%.

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 flat panel displays and solid-state lighting applications. As of February 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.

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Institutional Ownership by Quarter for Universal Display (NASDAQ:OLED)

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