State of New Jersey Common Pension Fund D Decreases Stock Position in Universal Display Co. (NASDAQ:OLED)

State of New Jersey Common Pension Fund D reduced its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,630 shares of the semiconductor company’s stock after selling 384 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Universal Display were worth $3,281,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. raised its holdings in shares of Universal Display by 11.9% in the third quarter. Crossmark Global Holdings Inc. now owns 3,300 shares of the semiconductor company’s stock worth $693,000 after acquiring an additional 350 shares during the last quarter. Montanaro Asset Management Ltd raised its stake in Universal Display by 217.4% in the 3rd quarter. Montanaro Asset Management Ltd now owns 63,260 shares of the semiconductor company’s stock valued at $13,278,000 after purchasing an additional 43,330 shares during the last quarter. Axxcess Wealth Management LLC purchased a new position in Universal Display in the 3rd quarter valued at about $300,000. Sigma Planning Corp boosted its stake in shares of Universal Display by 496.6% during the 3rd quarter. Sigma Planning Corp now owns 9,226 shares of the semiconductor company’s stock worth $1,936,000 after purchasing an additional 11,552 shares during the last quarter. Finally, Atria Investments Inc grew its holdings in shares of Universal Display by 766.2% during the third quarter. Atria Investments Inc now owns 12,863 shares of the semiconductor company’s stock worth $2,700,000 after buying an additional 11,378 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on OLED shares. Roth Mkm upped their price objective on shares of Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. TD Cowen decreased their price objective on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Oppenheimer dropped their price objective on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Needham & Company LLC decreased their target price on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, Susquehanna upped their price target on shares of Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $215.63.

Universal Display Trading Down 1.4 %

Shares of NASDAQ OLED opened at $172.55 on Wednesday. The stock has a fifty day moving average price of $199.91 and a 200 day moving average price of $195.77. The company has a market cap of $8.19 billion, a P/E ratio of 34.65, a P/E/G ratio of 1.93 and a beta of 1.43. Universal Display Co. has a 12-month low of $148.75 and a 12-month high of $237.00.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.19 by $0.21. The firm had revenue of $161.63 million for the quarter, compared to analyst estimates of $165.28 million. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. Universal Display’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 EPS. On average, sell-side analysts forecast that Universal Display Co. will post 4.79 EPS for the current fiscal year.

Universal Display Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Tuesday, December 17th. Universal Display’s dividend payout ratio (DPR) is 32.13%.

Insiders Place Their Bets

In other Universal Display news, Director Lawrence Lacerte bought 742 shares of the stock in a transaction dated Monday, November 4th. The stock was bought at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the purchase, the director now directly owns 122,372 shares of the company’s stock, valued at approximately $22,135,871.08. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is currently owned by company insiders.

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.