State of Tennessee Department of Treasury Acquires 3,499 Shares of Universal Display Co. (NASDAQ:OLED)

State of Tennessee Department of Treasury increased its position in shares of Universal Display Co. (NASDAQ:OLED - Free Report) by 24.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,784 shares of the semiconductor company's stock after buying an additional 3,499 shares during the quarter. State of Tennessee Department of Treasury's holdings in Universal Display were worth $2,600,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. CIBC Asset Management Inc increased its holdings in shares of Universal Display by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,473 shares of the semiconductor company's stock worth $215,000 after acquiring an additional 73 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Universal Display by 5.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,615 shares of the semiconductor company's stock valued at $245,000 after acquiring an additional 85 shares during the last quarter. Arizona State Retirement System grew its position in Universal Display by 0.7% in the fourth quarter. Arizona State Retirement System now owns 13,065 shares of the semiconductor company's stock valued at $1,910,000 after acquiring an additional 88 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Universal Display by 0.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 10,091 shares of the semiconductor company's stock worth $1,475,000 after purchasing an additional 90 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Universal Display by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the semiconductor company's stock worth $1,798,000 after buying an additional 100 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OLED. Roth Mkm raised their target price on Universal Display from $207.00 to $213.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. The Goldman Sachs Group decreased their target price on Universal Display from $234.00 to $203.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Citigroup lowered their price objective on Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a research note on Monday, February 10th. Susquehanna dropped their price target on Universal Display from $165.00 to $160.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Finally, StockNews.com upgraded Universal Display from a "sell" rating to a "hold" rating in a research note on Friday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Universal Display currently has an average rating of "Moderate Buy" and a consensus target price of $190.43.

Universal Display Stock Performance

Universal Display stock traded up $2.82 during mid-day trading on Friday, hitting $144.02. 1,307,008 shares of the company traded hands, compared to its average volume of 576,225. Universal Display Co. has a one year low of $103.70 and a one year high of $237.00. The stock has a fifty day moving average price of $135.55 and a 200-day moving average price of $152.26. The stock has a market cap of $6.85 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 1.61 and a beta of 1.46.

Universal Display (NASDAQ:OLED - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.07 by $0.28. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The firm had revenue of $166.28 million for the quarter, compared to the consensus estimate of $154.76 million. During the same period last year, the firm posted $1.19 earnings per share. The business's revenue was up .6% compared to the same quarter last year. Sell-side analysts predict that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, June 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.25%. Universal Display's payout ratio is 37.42%.

Universal Display 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.