Louisiana State Employees Retirement System Buys Shares of 12,800 Universal Display Corporation $OLED

Louisiana State Employees Retirement System bought a new stake in shares of Universal Display Corporation (NASDAQ:OLED) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,800 shares of the semiconductor company’s stock, valued at approximately $1,173,000.

Several other large investors also recently modified their holdings of OLED. JPMorgan Chase & Co. increased its holdings in Universal Display by 3.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 472,363 shares of the semiconductor company’s stock worth $67,846,000 after acquiring an additional 14,356 shares during the last quarter. Aquatic Capital Management LLC lifted its stake in shares of Universal Display by 891.6% during the 3rd quarter. Aquatic Capital Management LLC now owns 28,588 shares of the semiconductor company’s stock valued at $4,106,000 after buying an additional 25,705 shares in the last quarter. AI Squared Management Ltd bought a new position in Universal Display in the 3rd quarter worth approximately $5,515,000. Systematic Financial Management LP boosted its holdings in Universal Display by 40.2% in the 4th quarter. Systematic Financial Management LP now owns 196,515 shares of the semiconductor company’s stock worth $22,949,000 after buying an additional 56,320 shares during the period. Finally, Cinctive Capital Management LP purchased a new position in Universal Display in the 3rd quarter valued at approximately $3,419,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on OLED shares. Zacks Research cut shares of Universal Display from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. The Goldman Sachs Group set a $135.00 price objective on Universal Display in a research note on Tuesday, April 21st. Needham & Company LLC cut their target price on Universal Display from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Universal Display in a report on Thursday, June 18th. Finally, Oppenheimer decreased their price target on Universal Display from $160.00 to $130.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $130.60.

Universal Display Stock Performance

Shares of OLED stock opened at $78.70 on Friday. The company has a market capitalization of $3.68 billion, a PE ratio of 17.57 and a beta of 1.54. Universal Display Corporation has a 52-week low of $77.15 and a 52-week high of $162.36. The business’s fifty day moving average is $90.31 and its 200 day moving average is $102.67.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, April 30th. The semiconductor company reported $0.76 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.37). The business had revenue of $142.21 million for the quarter, compared to analysts’ expectations of $161.23 million. Universal Display had a return on equity of 12.34% and a net margin of 34.08%.Universal Display’s quarterly revenue was down 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.35 earnings per share. On average, sell-side analysts forecast that Universal Display Corporation will post 4.23 EPS for the current fiscal year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Tuesday, June 16th. Universal Display’s dividend payout ratio is 44.64%.

Universal Display 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.