Strs Ohio Sells 904 Shares of Universal Display Co. (NASDAQ:OLED)

Strs Ohio lowered its stake in Universal Display Co. (NASDAQ:OLED) by 9.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,467 shares of the semiconductor company’s stock after selling 904 shares during the quarter. Strs Ohio’s holdings in Universal Display were worth $1,619,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Orion Capital Management LLC purchased a new stake in shares of Universal Display during the third quarter worth about $31,000. Rise Advisors LLC purchased a new stake in shares of Universal Display during the 4th quarter worth approximately $57,000. Tyler Stone Wealth Management purchased a new stake in Universal Display during the second quarter valued at $43,000. Brown Brothers Harriman & Co. purchased a new position in Universal Display in the first quarter worth about $93,000. Finally, Fifth Third Bancorp boosted its stake in Universal Display by 22.5% during the third quarter. Fifth Third Bancorp now owns 593 shares of the semiconductor company’s stock worth $93,000 after buying an additional 109 shares during the period. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Trading Down 2.1 %

NASDAQ:OLED opened at $149.81 on Monday. The company’s 50-day moving average price is $168.17 and its 200-day moving average price is $169.33. Universal Display Co. has a twelve month low of $125.98 and a twelve month high of $194.84. The company has a market cap of $7.10 billion, a P/E ratio of 35.33, a P/E/G ratio of 1.63 and a beta of 1.45.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, February 22nd. The semiconductor company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.11. The company had revenue of $158.32 million for the quarter, compared to analyst estimates of $161.08 million. Universal Display had a net margin of 35.22% and a return on equity of 14.85%. Universal Display’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.36 EPS. On average, analysts expect that Universal Display Co. will post 4.72 earnings per share for the current year.

Universal Display Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.40 dividend. This is a positive change from Universal Display’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 1.07%. Universal Display’s dividend payout ratio (DPR) is presently 37.74%.

Analyst Ratings Changes

A number of analysts have weighed in on OLED shares. TD Cowen increased their target price on Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Oppenheimer restated an “outperform” rating and issued a $200.00 price target (down previously from $210.00) on shares of Universal Display in a report on Friday, February 23rd. Citigroup reiterated a “neutral” rating and issued a $180.00 target price (up previously from $161.00) on shares of Universal Display in a research note on Friday, January 19th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $198.00 price target on shares of Universal Display in a research note on Tuesday, March 26th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Universal Display presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.86.

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.