California Public Employees Retirement System Sells 4,158 Shares of Universal Display Co. (NASDAQ:OLED)

California Public Employees Retirement System trimmed its stake in shares of Universal Display Co. (NASDAQ:OLED - Free Report) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 89,380 shares of the semiconductor company's stock after selling 4,158 shares during the period. California Public Employees Retirement System owned approximately 0.19% of Universal Display worth $13,067,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of OLED. Brown Brothers Harriman & Co. grew its position in Universal Display by 280.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company's stock valued at $31,000 after purchasing an additional 154 shares in the last quarter. Blue Trust Inc. increased its position in 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 acquiring an additional 209 shares during the period. Farther Finance Advisors LLC increased its position in Universal Display by 761.1% during the fourth quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company's stock worth $45,000 after acquiring an additional 274 shares during the period. Geneos Wealth Management Inc. increased its position in Universal Display by 185.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 357 shares of the semiconductor company's stock worth $52,000 after acquiring an additional 232 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in Universal Display by 2,005.9% in the 4th quarter. Jones Financial Companies Lllp now owns 358 shares of the semiconductor company's stock valued at $52,000 after buying an additional 341 shares during the period. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on OLED shares. StockNews.com upgraded shares of Universal Display from a "sell" rating to a "hold" rating in a research report on Friday, March 21st. Oppenheimer decreased their price target on shares of Universal Display from $220.00 to $200.00 and set an "outperform" rating for the company in a research note on Thursday, January 2nd. The Goldman Sachs Group decreased their price target on shares of Universal Display from $234.00 to $203.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Citigroup reduced their target price on shares of Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a research note on Monday, February 10th. Finally, Roth Mkm boosted their price target on shares of Universal Display from $207.00 to $213.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $190.43.

Universal Display Price Performance

NASDAQ:OLED traded down $13.93 during trading hours on Thursday, hitting $111.25. The company had a trading volume of 184,766 shares, compared to its average volume of 538,342. The company has a market capitalization of $5.28 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The stock has a 50-day moving average price of $144.19 and a 200 day moving average price of $162.47. Universal Display Co. has a 52 week low of $103.70 and a 52 week high of $237.00.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.08 by $0.14. The company had revenue of $162.29 million for the quarter, compared to analysts' expectations of $152.75 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. Analysts anticipate that Universal Display Co. will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.45 dividend. This is a positive change from Universal Display's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.80 dividend on an annualized basis and a yield of 1.62%. Universal Display's payout ratio is 38.71%.

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.