Virginia Retirement Systems ET AL increased its stake in Universal Display Co. (NASDAQ:OLED) by 19.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,300 shares of the semiconductor company’s stock after acquiring an additional 700 shares during the period. Virginia Retirement Systems ET AL’s holdings in Universal Display were worth $809,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OLED. Meridian Wealth Management LLC bought a new position in Universal Display during the 1st quarter valued at approximately $31,000. TCI Wealth Advisors Inc. raised its position in Universal Display by 1,458.3% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 187 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 175 shares during the last quarter. Weaver Consulting Group bought a new position in Universal Display during the 1st quarter valued at approximately $39,000. Regal Investment Advisors LLC bought a new position in Universal Display during the 1st quarter valued at approximately $50,000. Finally, Pearl River Capital LLC raised its position in Universal Display by 251.4% during the 1st quarter. Pearl River Capital LLC now owns 390 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 279 shares during the last quarter. 75.79% of the stock is owned by institutional investors and hedge funds.

Shares of Universal Display stock traded up $3.90 during midday trading on Tuesday, hitting $213.76. The company had a trading volume of 663 shares, compared to its average volume of 741,745. The firm has a market cap of $10.02 billion, a PE ratio of 172.75, a P/E/G ratio of 2.64 and a beta of 1.53. The firm has a 50 day moving average price of $201.44. Universal Display Co. has a 52-week low of $78.78 and a 52-week high of $218.28.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.46. The company had revenue of $118.17 million for the quarter, compared to the consensus estimate of $79.26 million. Universal Display had a return on equity of 16.52% and a net margin of 33.08%. The firm’s quarterly revenue was up 110.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 EPS. As a group, equities analysts predict that Universal Display Co. will post 2.68 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.10 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.19%. Universal Display’s payout ratio is currently 32.26%.

In other Universal Display news, Director C Keith Hartley sold 10,528 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $214.27, for a total transaction of $2,255,834.56. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Steven V. Abramson sold 30,000 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $179.64, for a total value of $5,389,200.00. The disclosure for this sale can be found here. Insiders sold a total of 177,801 shares of company stock worth $34,646,297 in the last 90 days. 3.70% of the stock is currently owned by company insiders.

A number of research analysts have weighed in on the company. Citigroup upped 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. Deutsche Bank upped their target price on Universal Display from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. BidaskClub upgraded Universal Display from a “buy” rating to a “strong-buy” rating in a report on Monday. Zacks Investment Research downgraded Universal Display from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 24th. Finally, Berenberg Bank assumed coverage on Universal Display in a report on Wednesday, July 24th. They set a “hold” rating and a $192.00 target price on the stock. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $182.46.

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 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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