Teacher Retirement System of Texas Sells 5,289 Shares of Universal Display Co. (NASDAQ:OLED)

Teacher Retirement System of Texas lessened its stake in shares of Universal Display Co. (NASDAQ:OLED - Free Report) by 33.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,570 shares of the semiconductor company's stock after selling 5,289 shares during the quarter. Teacher Retirement System of Texas' holdings in Universal Display were worth $2,022,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Universal Display in the fourth quarter valued at approximately $25,000. Principal Securities Inc. purchased a new stake in shares of Universal Display in the fourth quarter valued at $34,000. Orion Capital Management LLC acquired a new position in Universal Display in the third quarter valued at $31,000. Rise Advisors LLC purchased a new position in Universal Display during the fourth quarter worth about $57,000. Finally, SRS Capital Advisors Inc. increased its stake in shares of Universal Display by 282.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 310 shares of the semiconductor company's stock valued at $59,000 after acquiring an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company's stock.

Insider Transactions at Universal Display

In other news, EVP Julia J. Brown sold 10,358 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $175.00, for a total transaction of $1,812,650.00. Following the completion of the sale, the executive vice president now owns 56,624 shares in the company, valued at approximately $9,909,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Julia J. Brown sold 10,358 shares of Universal Display stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $175.00, for a total value of $1,812,650.00. Following the transaction, the executive vice president now directly owns 56,624 shares of the company's stock, valued at $9,909,200. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Mauro Premutico sold 8,202 shares of the company's stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the completion of the sale, the senior vice president now owns 28,743 shares of the company's stock, valued at approximately $5,082,337.26. The disclosure for this sale can be found here. Company insiders own 1.90% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on OLED shares. TD Cowen increased their price objective on shares of Universal Display from $165.00 to $210.00 and gave the stock an "outperform" rating in a research report on Friday, February 23rd. Citigroup restated a "neutral" rating and issued a $180.00 target price (up from $161.00) on shares of Universal Display in a research note on Friday, January 19th. Needham & Company LLC restated a "buy" rating and set a $198.00 target price on shares of Universal Display in a research note on Friday, May 3rd. Finally, Oppenheimer restated an "outperform" rating and set a $200.00 price objective (down previously from $210.00) on shares of Universal Display in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $199.86.

Universal Display Trading Down 0.3 %

OLED traded down $0.53 during trading hours on Friday, hitting $173.14. The company's stock had a trading volume of 148,028 shares, compared to its average volume of 286,520. The company has a 50-day simple moving average of $163.74 and a 200 day simple moving average of $170.31. The firm has a market capitalization of $8.21 billion, a PE ratio of 37.75, a PEG ratio of 1.91 and a beta of 1.44. Universal Display Co. has a fifty-two week low of $133.67 and a fifty-two week high of $194.84.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.14. The company had revenue of $165.26 million for the quarter, compared to analyst estimates of $150.75 million. Universal Display had a return on equity of 15.57% and a net margin of 36.00%. The company's quarterly revenue was up 26.7% compared to the same quarter last year. During the same period last year, the company earned $0.83 earnings per share. Research analysts expect that Universal Display Co. will post 4.73 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Friday, June 14th. Universal Display's dividend payout ratio (DPR) is presently 34.78%.

Universal Display Company Profile

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.