8,215 Shares in Universal Display Corporation $OLED Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• The Virginia Retirement Systems acquired 8,215 shares of Universal Display Corporation for approximately $1.27 million in the second quarter.
• Universal Display reported a quarterly EPS of $1.41, surpassing analysts' expectations by $0.23, and an 8.4% increase in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.45 per share, with a yield of 1.2% and a payout ratio of 35.16%.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Universal Display Corporation (NASDAQ:OLED - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,215 shares of the semiconductor company's stock, valued at approximately $1,269,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Empirical Asset Management LLC increased its stake in Universal Display by 26.7% in the second quarter. Empirical Asset Management LLC now owns 4,463 shares of the semiconductor company's stock valued at $689,000 after purchasing an additional 941 shares during the last quarter. Pettinga Financial Advisors LLC purchased a new position in Universal Display in the second quarter valued at approximately $206,000. TD Asset Management Inc purchased a new position in Universal Display in the second quarter valued at approximately $1,421,000. Envestnet Portfolio Solutions Inc. increased its stake in Universal Display by 55.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,147 shares of the semiconductor company's stock valued at $1,722,000 after purchasing an additional 3,960 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in Universal Display in the second quarter valued at approximately $205,000. Hedge funds and other institutional investors own 78.19% of the company's stock.

Universal Display Stock Performance

Universal Display stock opened at $145.97 on Thursday. The stock's 50 day moving average price is $142.73 and its 200 day moving average price is $143.01. The firm has a market capitalization of $6.94 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 4.39 and a beta of 1.55. Universal Display Corporation has a one year low of $103.70 and a one year high of $214.57.

Universal Display (NASDAQ:OLED - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.23. Universal Display had a return on equity of 15.82% and a net margin of 36.95%.The company had revenue of $171.79 million for the quarter, compared to the consensus estimate of $161.58 million. During the same period in the previous year, the business earned $1.10 EPS. Universal Display's revenue for the quarter was up 8.4% compared to the same quarter last year. Universal Display has set its FY 2025 guidance at EPS. On average, analysts forecast that Universal Display Corporation will post 4.71 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a dividend of $0.45 per share. The ex-dividend date was Tuesday, September 16th. This represents a $1.80 annualized dividend and a yield of 1.2%. Universal Display's payout ratio is currently 35.16%.

Analyst Ratings Changes

Several brokerages have commented on OLED. Weiss Ratings reiterated a "hold (c)" rating on shares of Universal Display in a research note on Wednesday, October 8th. Zacks Research downgraded Universal Display from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Five investment 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, Universal Display currently has an average rating of "Moderate Buy" and a consensus target price of $190.43.

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.

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