California State Teachers Retirement System Has $4.81 Million Holdings in Universal Display Corporation $OLED

California State Teachers Retirement System grew its position in shares of Universal Display Corporation (NASDAQ:OLED) by 22.6% in the 1st quarter, HoldingsChannel reports. The fund owned 52,430 shares of the semiconductor company’s stock after buying an additional 9,665 shares during the period. California State Teachers Retirement System’s holdings in Universal Display were worth $4,806,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Systematic Financial Management LP lifted its position in shares of Universal Display by 40.2% during the fourth quarter. Systematic Financial Management LP now owns 196,515 shares of the semiconductor company’s stock valued at $22,949,000 after purchasing an additional 56,320 shares in the last quarter. Quantinno Capital Management LP grew its position in Universal Display by 776.6% in the 1st quarter. Quantinno Capital Management LP now owns 251,218 shares of the semiconductor company’s stock worth $23,027,000 after purchasing an additional 222,561 shares in the last quarter. Caxton Associates LLP increased its stake in Universal Display by 132.6% in the 1st quarter. Caxton Associates LLP now owns 43,818 shares of the semiconductor company’s stock valued at $4,016,000 after buying an additional 24,977 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Universal Display during the 1st quarter worth approximately $11,544,000. Finally, UBS Group AG lifted its position in shares of Universal Display by 100.8% during the 4th quarter. UBS Group AG now owns 646,787 shares of the semiconductor company’s stock worth $75,532,000 after buying an additional 324,677 shares in the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Stock Performance

Shares of OLED opened at $91.19 on Friday. The business has a 50-day moving average of $84.74 and a 200 day moving average of $95.91. Universal Display Corporation has a fifty-two week low of $76.42 and a fifty-two week high of $153.38. The firm has a market cap of $4.19 billion, a P/E ratio of 22.08 and a beta of 1.54.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $1.06 EPS for the quarter, beating the consensus estimate of $1.03 by $0.03. The business had revenue of $152.16 million for the quarter, compared to the consensus estimate of $157.54 million. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The company’s revenue was down 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 earnings per share. As a group, research analysts predict that Universal Display Corporation will post 4.18 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 16th. Universal Display’s payout ratio is currently 48.43%.

Analysts Set New Price Targets

Several research firms have recently issued reports on OLED. BTIG Research lowered Universal Display to a “neutral” rating in a report on Friday, July 31st. Weiss Ratings downgraded Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Zacks Research lowered Universal Display from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Needham & Company LLC lowered their target price on Universal Display from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Finally, Roth Capital set a $168.00 price target on shares of Universal Display in a report on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $116.33.

Universal Display Company 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.