Public Employees Retirement System of Ohio Acquires Shares of 12,669 Universal Display Corporation $OLED

Public Employees Retirement System of Ohio bought a new position in shares of Universal Display Corporation (NASDAQ:OLED) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 12,669 shares of the semiconductor company’s stock, valued at approximately $1,097,000.

Other large investors have also modified their holdings of the company. XXEC Inc. acquired a new stake in shares of Universal Display in the 2nd quarter valued at approximately $63,716,000. Corient Private Wealth LP acquired a new position in Universal Display during the second quarter worth $590,000. Bank of America Corp DE purchased a new position in Universal Display in the second quarter worth $14,592,000. Caisse de depot et placement du Quebec purchased a new position in Universal Display in the second quarter worth $615,000. Finally, Man Group plc acquired a new stake in Universal Display in the second quarter valued at $13,883,000. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Stock Performance

OLED opened at $82.30 on Wednesday. The business’s fifty day moving average is $83.41 and its two-hundred day moving average is $90.45. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 19.93 and a beta of 1.56. Universal Display Corporation has a one year low of $76.42 and a one year high of $153.38.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.03. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The company had revenue of $152.16 million for the quarter, compared to analyst estimates of $157.54 million. During the same quarter in the prior year, the company earned $1.41 earnings per share. Universal Display’s revenue was down 11.4% compared to the same quarter last year. On average, analysts predict that Universal Display Corporation will post 4.17 EPS for the current fiscal year.

Universal Display Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, September 16th. Universal Display’s dividend payout ratio is presently 48.43%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Citigroup decreased their target price on shares of Universal Display from $100.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. Susquehanna cut their price target on shares of Universal Display from $110.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, July 31st. Oppenheimer reiterated an “outperform” rating and issued a $120.00 price objective (down from $130.00) on shares of Universal Display in a research note on Friday, July 31st. Zacks Research raised shares of Universal Display from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Finally, BTIG Research lowered shares of Universal Display to a “neutral” rating in a research report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $116.33.

About Universal Display

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.