State of Michigan Retirement System Sells 100 Shares of Universal Display Co. (NASDAQ:OLED)

State of Michigan Retirement System reduced its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,405 shares of the semiconductor company’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in Universal Display were worth $1,521,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Assetmark Inc. bought a new position in shares of Universal Display in the third quarter worth about $29,000. Brooklyn Investment Group acquired a new position in Universal Display during the 3rd quarter worth approximately $30,000. Nisa Investment Advisors LLC lifted its stake in Universal Display by 60.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 65 shares during the last quarter. True Wealth Design LLC acquired a new stake in Universal Display in the third quarter valued at approximately $36,000. Finally, Blue Trust Inc. grew its stake in shares of Universal Display by 401.9% during the fourth quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company’s stock worth $38,000 after buying an additional 209 shares during the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Price Performance

Shares of OLED stock opened at $159.74 on Friday. Universal Display Co. has a one year low of $140.17 and a one year high of $237.00. The business’s 50 day simple moving average is $148.72 and its 200 day simple moving average is $172.09. The stock has a market capitalization of $7.58 billion, a PE ratio of 34.35, a PEG ratio of 1.61 and a beta of 1.40.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.14. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The company had revenue of $162.29 million for the quarter, compared to analyst estimates of $152.75 million. As a group, research analysts expect that Universal Display Co. will post 4.71 earnings per share for the current year.

Universal Display Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.45 dividend. The ex-dividend date is Monday, March 17th. This is a positive change from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.13%. Universal Display’s dividend payout ratio (DPR) is 38.71%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on OLED shares. Oppenheimer cut their price objective on Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, January 2nd. Susquehanna cut their price target on Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Roth Mkm upped their price objective on Universal Display from $207.00 to $213.00 and gave the company a “buy” rating in a research note on Friday, February 21st. The Goldman Sachs Group cut their target price on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, Citigroup decreased their price target on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.