Universal Display Corporation $OLED Shares Bought by Primecap Management Co. CA

Primecap Management Co. CA boosted its stake in shares of Universal Display Corporation (NASDAQ:OLED) by 1.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,258,378 shares of the semiconductor company’s stock after purchasing an additional 43,070 shares during the period. Primecap Management Co. CA owned approximately 4.75% of Universal Display worth $324,371,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Universal Display by 10.0% in the 3rd quarter. Vanguard Group Inc. now owns 5,069,107 shares of the semiconductor company’s stock valued at $728,076,000 after buying an additional 460,792 shares during the period. Norges Bank acquired a new stake in Universal Display during the second quarter worth about $124,480,000. First Trust Advisors LP raised its position in Universal Display by 14.9% during the second quarter. First Trust Advisors LP now owns 699,412 shares of the semiconductor company’s stock valued at $108,031,000 after acquiring an additional 90,766 shares in the last quarter. Greenhouse Funds LLLP lifted its holdings in Universal Display by 14.4% in the second quarter. Greenhouse Funds LLLP now owns 644,146 shares of the semiconductor company’s stock valued at $99,495,000 after acquiring an additional 81,025 shares during the period. Finally, Rafferty Asset Management LLC lifted its holdings in Universal Display by 63.2% in the second quarter. Rafferty Asset Management LLC now owns 574,161 shares of the semiconductor company’s stock valued at $88,685,000 after acquiring an additional 222,327 shares during the period. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Analysts Set New Price Targets

OLED has been the topic of a number of analyst reports. Zacks Research cut shares of Universal Display from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Needham & Company LLC lowered their price target on shares of Universal Display from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Citigroup dropped their price target on shares of Universal Display from $150.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 27th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Universal Display in a report on Wednesday, December 24th. Finally, Roth Mkm reissued a “buy” rating and set a $180.00 target price on shares of Universal Display in a research note on Friday, February 20th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $151.67.

Universal Display Stock Performance

Shares of NASDAQ OLED opened at $106.06 on Thursday. The firm has a fifty day moving average of $119.03 and a 200 day moving average of $129.67. The firm has a market cap of $5.00 billion, a PE ratio of 20.92, a PEG ratio of 8.19 and a beta of 1.63. Universal Display Corporation has a one year low of $99.65 and a one year high of $164.29.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, February 19th. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.11. The business had revenue of $172.93 million for the quarter, compared to analyst estimates of $173.35 million. Universal Display had a net margin of 37.21% and a return on equity of 14.07%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.22 earnings per share. On average, equities analysts predict that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, March 17th. This is a positive change from Universal Display’s previous quarterly dividend of $0.45. Universal Display’s payout ratio is presently 35.50%.

About Universal Display

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.