Vestcor Inc Invests $519,000 in Universal Display Co. (NASDAQ:OLED)

Vestcor Inc acquired a new position in shares of Universal Display Co. (NASDAQ:OLED) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,547 shares of the semiconductor company’s stock, valued at approximately $519,000.

Other large investors also recently modified their holdings of the company. Assetmark Inc. acquired a new stake in shares of Universal Display during the third quarter worth $29,000. Brooklyn Investment Group acquired a new stake in shares of Universal Display during the third quarter worth $30,000. True Wealth Design LLC bought a new position in Universal Display during the third quarter worth $36,000. Blue Trust Inc. boosted its stake 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 in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake 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 in the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Trading Up 1.7 %

Universal Display stock opened at $150.35 on Monday. Universal Display Co. has a 1-year low of $140.17 and a 1-year high of $237.00. The firm has a market capitalization of $7.14 billion, a price-to-earnings ratio of 32.33, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. The firm’s fifty day moving average price is $148.95 and its two-hundred day moving average price is $170.55.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.14. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The company had revenue of $162.29 million for the quarter, compared to analyst estimates of $152.75 million. On average, research analysts forecast that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.45 per share. This is a positive change from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Monday, March 17th. Universal Display’s dividend payout ratio (DPR) is presently 38.71%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Roth Mkm increased their target price on shares of Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. The Goldman Sachs Group cut their target price on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. StockNews.com lowered shares of Universal Display from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. Needham & Company LLC cut their target price on shares of Universal Display from $215.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Finally, Citigroup dropped their price objective on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $190.43.

About Universal Display

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.