Primecap Management Co. CA Sells 104,407 Shares of Universal Display Co. (NASDAQ:OLED)

Primecap Management Co. CA lowered its holdings in Universal Display Co. (NASDAQ:OLED) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,912,282 shares of the semiconductor company’s stock after selling 104,407 shares during the quarter. Primecap Management Co. CA owned 4.04% of Universal Display worth $365,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of OLED. Vanguard Group Inc. lifted its position in shares of Universal Display by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,511,145 shares of the semiconductor company’s stock valued at $708,205,000 after buying an additional 23,944 shares in the last quarter. FMR LLC raised its stake in shares of Universal Display by 10.6% in the third quarter. FMR LLC now owns 1,398,961 shares of the semiconductor company’s stock valued at $219,623,000 after acquiring an additional 134,000 shares during the period. Jennison Associates LLC lifted its holdings in shares of Universal Display by 0.4% in the 4th quarter. Jennison Associates LLC now owns 903,068 shares of the semiconductor company’s stock worth $172,721,000 after acquiring an additional 3,397 shares during the last quarter. Norges Bank purchased a new position in shares of Universal Display during the 4th quarter worth about $101,088,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Universal Display by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 315,465 shares of the semiconductor company’s stock valued at $60,336,000 after buying an additional 6,943 shares during the last quarter. Institutional investors own 78.19% of the company’s stock.

Insider Transactions at Universal Display

In other Universal Display news, SVP Mauro Premutico sold 8,202 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $176.82, for a total value of $1,450,277.64. Following the completion of the transaction, the senior vice president now owns 28,743 shares in the company, valued at $5,082,337.26. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Julia J. Brown sold 10,358 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $175.00, for a total value of $1,812,650.00. Following the completion of the sale, the executive vice president now owns 56,624 shares of the company’s stock, valued at approximately $9,909,200. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Mauro Premutico sold 8,202 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the transaction, the senior vice president now directly owns 28,743 shares in the company, valued at $5,082,337.26. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Universal Display Stock Performance

NASDAQ OLED traded up $2.23 during trading hours on Friday, reaching $176.59. The stock had a trading volume of 266,853 shares, compared to its average volume of 282,625. Universal Display Co. has a 52-week low of $133.67 and a 52-week high of $194.84. The stock has a fifty day moving average of $165.02 and a 200 day moving average of $171.70. The stock has a market cap of $8.38 billion, a P/E ratio of 38.39, a price-to-earnings-growth ratio of 1.92 and a beta of 1.44.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.05 by $0.14. The business had revenue of $165.26 million for the quarter, compared to the consensus estimate of $150.75 million. Universal Display had a net margin of 36.00% and a return on equity of 15.57%. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 EPS. On average, equities research analysts forecast that Universal Display Co. will post 4.73 EPS for the current year.

Universal Display Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Friday, June 14th. Universal Display’s dividend payout ratio (DPR) is 34.78%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on OLED shares. Oppenheimer reissued an “outperform” rating and set a $200.00 price objective (down from $210.00) on shares of Universal Display in a report on Friday, February 23rd. TD Cowen raised their price target on Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $198.00 price target on shares of Universal Display in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $199.86.

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.