Vestcor Inc Makes New Investment in Universal Display Co. (NASDAQ:OLED)

Vestcor Inc purchased a new position in shares of Universal Display Co. (NASDAQ:OLED - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,547 shares of the semiconductor company's stock, valued at approximately $519,000.

A number of other large investors also recently modified their holdings of OLED. Assetmark Inc. acquired a new position in shares of Universal Display during the third quarter worth approximately $29,000. Empowered Funds LLC increased its position in shares of Universal Display by 21.2% during the third quarter. Empowered Funds LLC now owns 1,833 shares of the semiconductor company's stock valued at $385,000 after purchasing an additional 320 shares during the period. Natixis Advisors LLC increased its position in shares of Universal Display by 20.4% during the third quarter. Natixis Advisors LLC now owns 14,477 shares of the semiconductor company's stock valued at $3,039,000 after purchasing an additional 2,456 shares during the period. Chesapeake Capital Corp IL increased its position in shares of Universal Display by 27.9% during the third quarter. Chesapeake Capital Corp IL now owns 2,498 shares of the semiconductor company's stock valued at $514,000 after purchasing an additional 545 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in shares of Universal Display by 0.4% during the third quarter. Thrivent Financial for Lutherans now owns 139,015 shares of the semiconductor company's stock valued at $29,180,000 after purchasing an additional 605 shares during the period. 78.19% of the stock is currently owned by institutional investors and hedge funds.

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Universal Display Stock Performance

Universal Display stock traded down $2.98 on Thursday, reaching $151.38. The company's stock had a trading volume of 456,936 shares, compared to its average volume of 482,057. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 1.61 and a beta of 1.40. Universal Display Co. has a twelve month low of $140.17 and a twelve month high of $237.00. The business's fifty day moving average price is $149.09 and its 200 day moving average price is $169.93.

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

Universal Display Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.45 per share. This is a boost from Universal Display's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Monday, March 17th. Universal Display's payout ratio is currently 38.71%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on OLED shares. StockNews.com cut Universal Display from a "hold" rating to a "sell" rating in a research report on Friday, March 7th. Susquehanna lowered their price objective on Universal Display from $165.00 to $160.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Roth Mkm boosted their price objective on Universal Display from $207.00 to $213.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Needham & Company LLC lowered their price objective on Universal Display from $215.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Finally, Citigroup lowered their price target on Universal Display from $200.00 to $162.00 and set a "neutral" rating on the stock in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $190.43.

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.