Public Employees Retirement System of Ohio Buys New Stake in Universal Display Corporation $OLED

Key Points

• Public Employees Retirement System of Ohio purchased 12,669 shares of Universal Display worth approximately $1.1 million, while institutional investors collectively own 78.19% of the company.
• Analyst sentiment is mixed, with the stock carrying an overall “Hold” rating and an average price target of $116.33; several firms recently lowered targets or downgraded the shares.
• Universal Display beat quarterly EPS estimates ($1.06 versus $1.03), but revenue fell 11.4% year over year to $152.16 million. The company also declared a quarterly dividend of $0.50 per share, representing a 2.4% annualized yield.

Public Employees Retirement System of Ohio purchased a new stake in Universal Display Corporation (NASDAQ:OLED - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 12,669 shares of the semiconductor company's stock, valued at approximately $1,097,000.

Several other large investors also recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC purchased a new position in shares of Universal Display during the third quarter worth about $33,000. RHL Group LLC purchased a new stake in shares of Universal Display in the 4th quarter valued at about $60,000. Canada Pension Plan Investment Board acquired a new stake in shares of Universal Display in the 2nd quarter valued at about $62,000. UMB Bank n.a. boosted its position in shares of Universal Display by 28.3% in the 4th quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company's stock valued at $64,000 after purchasing an additional 121 shares during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new position in Universal Display during the 4th quarter worth approximately $75,000. Institutional investors and hedge funds own 78.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on OLED shares. Weiss Ratings cut Universal Display from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, July 28th. Oppenheimer reiterated an "outperform" rating and issued a $120.00 price target (down from $130.00) on shares of Universal Display in a research report on Friday, July 31st. Zacks Research upgraded shares of Universal Display from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 13th. Susquehanna lowered their price objective on shares of Universal Display from $110.00 to $90.00 and set a "neutral" rating on the stock in a research report on Friday, July 31st. Finally, BTIG Research lowered shares of Universal Display to a "neutral" rating in a research note on Friday, July 31st. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $116.33.

Universal Display Trading Down 0.0%

Universal Display stock opened at $82.30 on Wednesday. The stock has a 50 day moving average of $83.41 and a two-hundred day moving average of $90.45. Universal Display Corporation has a twelve month low of $76.42 and a twelve month high of $153.38. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 19.93 and a beta of 1.56.

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

Universal Display Announces Dividend

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

Universal Display Company Profile

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.

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